| Today's Top Story |  |  | | - FDA drug approvals hit 16-year high in 2012
The FDA approved 39 new drugs in 2012, the most since 1996, suggesting growth prospects for branded drugmakers that have been losing business to patent expirations. The approvals included potential blockbuster drugs such as Pfizer and Bristol-Myers Squibb's blood thinner Eliquis, but many are intended for smaller markets, including Vertex Pharmaceuticals' Kalydeco, which treats a particular form of cystic fibrosis. The Prescription Drug User Fee Act "provided critical resources for improving the quality and timeliness of premarket review of drugs," FDA spokeswoman Sandy Walsh said. Reuters (12/31), Bloomberg (1/1)       | | Health Care & Policy | | | | - Differences between branded drugs, generics may reduce adherence
 Differences in color and shape between branded drugs and their generic counterparts may be connected with prescription nonadherence, according to a controlled study published in the Archives of Internal Medicine. "Changes between generic products with different physical characteristics may cause confusion and result in reduced adherence or prescription error," researchers wrote. "Taking steps to permit (or even require) similarity in pill appearance among bioequivalent brand-name and generic drugs may offer another way to achieve better patient adherence to essential medication regimens." Medscape (free registration) (12/31) | Company & Financial News | | | | - Abbott spins off biopharmaceutical business
Abbott Laboratories has finalized the spinoff of its branded biopharmaceutical business into a publicly traded entity named AbbVie. The new firm will focus on developing a broad portfolio anchored by the blockbuster drug Humira, and it will start with more than 20 mid- to late-stage clinical programs in its pipeline. "AbbVie launches with an outstanding portfolio, a solid pipeline and enthusiastic people who will serve patients and deliver growth," AbbVie Chairman and CEO Richard A. Gonzalez said. Genetic Engineering & Biotechnology News (1/2), GenomeWeb Daily News (free registration) (1/2) - NanoViricides raises additional $2.5M from private equity investor
NanoViricides received an additional $2.5 million in financing from private equity company Seaside 88. "This financing is very important for the company as we advance our influenza drug candidate towards IND stage and future human clinical trials," NanoViricides President Anil Diwan said. Part of the proceeds will go toward the renovation of the firm's 18,000-square-foot manufacturing facility in Shelton, Conn. New Haven Register (Conn.) (12/31) - Access Genetics buys Quest Diagnostics unit
Access Genetics has acquired almost all of the assets of OralDNA Labs, a Tennessee-based unit of Quest Diagnostics that supplies testing services based on saliva samples. The deal, whose terms were not disclosed, is part of Quest's strategy to concentrate on its core business related to diagnostic data services for hospitals and doctors. GenomeWeb Daily News (free registration) (12/31)  | Dell has your IT wish list covered.
Desktops, laptops and accessories. Save up to 35% on the latest technology for your medical practice. Enable workforce productivity with the budget-friendly Latitude E5430. It offers easy management and integration into an E-Family docking environment. Shop Now. |
 | Food & Agriculture | | | | | Industrial & Environmental | | | | - "Fiscal cliff" deal would extend cellulosic, algal tax credits
The "fiscal cliff" deal passed by Congress includes tax-credit extensions for cellulosic biofuels as well as biodiesel and renewable diesel. The deal, which is expected to be signed by President Barack Obama, extends by one year the cellulosic producer tax credit and expands it to algae-based fuel. The cellulosic bonus depreciation, which allows biofuel companies to expense up to half of their eligible capital costs in their first year, was also given a one-year extension. BiofuelsDigest.com (1/2)  | |  | | The Buzz(CORPORATE ANNOUNCEMENTS)
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| News from BIO | | | | - Are you taking full advantage of your membership?
BIO's cost-savings program, BIO Business Solutions, is helping 2,700 companies nationwide save on the cost of essential products and services. Members of BIO and 43 state and regional biotech associations are eligible to receive preferential pricing and other benefits at no additional cost beyond their membership dues. VWR International, FedEx, Office Depot and Business Wire are just a few of the industry leading providers that offer special pricing through this members-only program. Learn more or enroll here.
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Commercial cultivation of biotech crops provides significant economic and environmental benefits and will bring even more benefits if allowed to flourish, write Henry Miller of Stanford University's Hoover Institution and Graham Brookes of PG Economics. To maximize the great potential of biotech crops, governments must create regulatory policies based on facts and not on "pathological science," they argue. 
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