Novartis Halts Two Drug Development Programs

Swiss pharmaceutical company Novartis announced Tuesday that it had discontinued the development of two drugs -- the hepatitis C treatment Zalbin, and antifungal agent Mycograb. The company will take impairment charges of approximately $590 million in third quarter of 2010.

Bristol - Myers buyout of Medarex

Shares in Human Genome Sciences (HGSI) rocketed up on news that it had received promising results for its lupus drug. Suddenly, the successes -- and...