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MEDICAL
Drug firms to sell generic Prilosec
Andrx and Germany's Merck will let Schwarz Pharma sell a generic of AstraZeneca's $6 bil a year Prilosec heartburn drug in the U.S. A judge ruled Oct. 11 that only Schwarz didn't infringe AstraZeneca's patents. Andrx and Merck have exclusive rights to market a generic version for six months. They'll share profits with Schwarz. Andrx jumped 19%; AstraZeneca fell 6%.
Cigna profit falls, probed by SEC
The health insurer earned $1.49 a share in Q3 ex-charges, down 19% from a year ago. That was 2 cents above lowered views. Cigna dived 40% on Oct. 25 after warning it would miss Q3 and Q4 targets because of its failure to accurately predict health-care costs. Cigna also said the SEC opened an "informal inquiry," but didn't say why.
** Biovail got a tentative FDA OK for its zolpidem insomnia drug, sold in the U.S. as Ambien by Sanofi-Synthelabo. But the Canadian drug maker may not be able to launch zolpidem until Ambien's patent expires in '06.
TECHNOLOGY