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Seattle Genetics reports narrower 2Q loss

Seattle Genetics Inc. said Wednesday that its financial losses narrowed in the second quarter because of higher revenue from licensing and collaborative agreements with Bayer and others drugmakers. Full story

FDA panel recommends over-the-counter use of Sanofi allergy drug

WASHINGTON (Reuters) - Sanofi SA's allergy drug Nasacort AQ is safe enough to be used without a prescription, a panel of advisors to the U.S. Food and Drug Administration ruled on Wednesday. Full story

Cubist surges following Optimer and Trius deals

Shares of Cubist Pharmaceuticals Inc. climbed to their highest price in 13 years Wednesday after the company said it will spend up to $1.6 billion to buy Optimer Pharmaceuticals and Trius Therapeutics. Full story

Allergan beats Wall Street estimates on drug sales

Cosmetic drug and device maker Allergan Inc. reported better-than-expected earnings Wednesday because of sales growth from Botox injections and eye care drugs. Full story

Actelion buys U.S.-based firm with cancer drug in development

ZURICH (Reuters) - Actelion said it will acquire Ceptaris, a privately held U.S.-based specialty pharmaceutical company developing a topical drug, Valchlor, to treat a form of cancer. Full story

Questcor shares touch life-high on strong growth in Acthar sales

(Reuters) - Shares of Questcor Pharmaceuticals Inc <QCOR.O> rose as much as 26 percent to a life-high on Wednesday, after strong sales growth for Acthar allayed concerns that reimbursement issues would restrict sales for newer uses of the drug. Full story

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Bayer Q2 profits jump on new drugs, lower charges

Pfizer to return $700,000 to Okla. health care

AstraZeneca buys rights to anaemia drug from FibroGen

Florida pain doctors convicted of money laundering

News Summary: Generic rivals hurt Merck's 2Q net

Amgen 2Q net dips on higher research, other costs

Aegerion rises on strong 2Q Juxtapid sales

EU Commission clears way for Bayer acne pill sales in France

Diabetes Drug May Increase Life Span

Aegerion raises revenue forecast; shares jump 26 percent

Video

  Study: Back pain treatment too aggressive for some

Americans are estimated to spend as much as $86 billion a year in search of back pain relief, but a new study suggests less can be more when it comes to treatment. TODAY’s Savannah Guthrie reports and sports medicine specialist Dr. Jordan Metzl discusses the study.

  Here's what's nuts about the MLB suspending Ryan Braun

Milwaukee Brewers outfielder Ryan Braun was suspended Monday by MLB after he admitted using performance enhancing drugs. Chris Hayes talks with Michael Brendan Dougherty, Editor of The Slurve, about the crackdown against performance enhancing drugs in baseball.

  Rossen Reports: Man fights insurer for life-saving drug

Kevin Dwyer and his sister Martha Weber both have the same strain of cystic fibrosis, the same insurance company, and the same doctor, who requested they each be given a potentially life-saving drug. But in a stunning twist, only Martha was approved. NBC’s Jeff Rossen reports.

  Relief on the way for women going through menopause

A newly approved drug could bring big relief to the millions of women experiencing the unpleasant effects of menopause, NBC’s Janet Shamlian reports.

  FDA approves new treatment for hot flashes

For women of a certain age, there could be a new answer to a troubling problem. The FDA has approved a medication for hot flashes that doesn't involve hormone therapy. NBC’s Janet Shamlian reports.

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