Biotech businesses in California -- including those focused on drug development, medical devices and diagnostics -- raked in more than 40% of the $7.4 billion in biotech venture capital in 2006, according to a new PricewaterhouseCoopers report. The industry's steady growth could be hampered, however, as the federal government is likely to have increased involvement in oversight of drug safety and cost-effectiveness.
Several companies are investigating implanted electronic devices to help people fight obesity. The pacemaker-like devices affect a nerve linked to feelings of hunger and fullness and may be safer than surgery.
Eye-care products manufacturer Bausch & Lomb on Wednesday announced that it has chosen Gerald Ostrov to succeed Ronald Zarrella as chairman and chief executive. Ostrov previously headed Johnson & Johnson's vision care unit and worked for Ciba-Geigy AG.
Older women are less likely to have mammograms to detect breast cancer if their Medicare managed-care plans require co-payments, a new study in the New England Journal of Medicine found. Researchers said Medicare should consider the exemption of elderly women from mammogram co-payments given the exam's ability to spot the disease at earlier stages.
The U.K.'s National Institute for Health and Clinical Excellence is expected to publish next week its findings on whether drug-coated stents are cost effective. The agency has been a leader in evaluating new treatments for cost-effectiveness.