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MEDICAL
Merck rebounds from Vioxx loss
A day after plunging 27%, Merck regained some lost ground, rising 1% to 33.31. The drug maker was pummeled after it pulled its popular Vioxx arthritis drug over health concerns. Pfizer, which is expected to benefit from higher sales of its arthritis drugs, rose 1% to 30.97. Novartis, which also makes a Vioxx alternative, saw its shares climb 50 cents to 47.17.
ANS drops Cyberonics buyout bid
Cyberonics fell 8% to 18.85 after Advanced Neuromodulation Systems withdrew its unsolicited $524 mil buyout offer. ANS had said it was interested in expanding its neurological disorders product line by adding Cyberonics' epilepsy device. ANS acquired a 14.7% stake in Cyberonics in Aug., followed by a Sept. takeover bid. ANS rose 1.5% to 30.87%.
** Bristol-Myers Squibb and Otsuka Pharmaceutical's anti-psychotic drug Abilify got FDA approval for acute bipolar mania. The FDA ...