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MEDICAL
Teva to appeal Merck drug ruling
The Israeli firm plans to appeal a Thursday ruling blocking the generic drug maker from marketing a copycat of Merck's Fosamax once-weekly osteoporosis drug. A Delaware court found Teva Pharmaceutical Industries' proposed generic version would infringe on Merck's patent, which expires in 2018. Teva fell 2%; Merck rose 1%.
FDA OKs Biovail anti-depressant
The Canadian drug maker won approval for its once-daily Wellbutrin XL anti-depressant, which will be marketed by GlaxoSmithKline in the U.S. Glaxo's twice-daily Wellburtin often caused insomnia. XL is expected to be in pharmacies by mid-Sept. Biovail will get 25%-30% of total Wellbutrin sales, analysts said. Biovail rose 3%.
** Bristol-Myers is talking with Canadian regulators over the safety of its Serzone anti-depressant, but didn't say if it'll soon pull it from Canadian drug stores. It's been pulled from Europe, but not the U.S.
TRANSPORTATION