BUSINESS BRIEFS.(TO THE POINT)

MEDICAL

J&J to buy out Merck 50% stake

Johnson & Johnson will acquire Merck's 50% interest in the drug companies' European joint venture, which markets "switch" drugs that start as prescription drugs and then move over the counter. J&J still plans to market Merck's blockbuster cholesterol drug Zocor in the U.K. later this year. And they'll maintain their JV in the U.S. and Canada, which features the Pepcid line of heartburn drugs. Terms weren't disclosed. Merck shares rose 1% and J&J's slipped slightly.

Pfizer wins suit vs. Dr. Reddy's

The drug company won an appeals court decision against India's Dr. Reddy's that gives it a temporary breather from generic competition to its top-selling hypertension drug Norvasc. The court overturned a lower court decision in Dec. '02 that said Dr. Reddy's had not infringed on Pfizer's patent, which expires in '07. Pfizer shares fell 1% to 36.65. Dr. Reddy's slid 13% to 25.45.

** Merck got an extra 6 months of marketing exclusivity for painkiller Vioxx. The FDA also approved using Vioxx for treating juvenile rheumatoid arthritis.

** Aeterna Laboratories lost 21 cents a share Canadian in Q4, 5% more than the year-ago quarter, thanks to a rise in expenses that offset a 75% rise in sales. The biotech firm expects to become cash flow positive in '04. ...