It has been recently revealed that there has been the development of the most effective drug so far, treating prostate cancer. There has been a rise in the shares of the Medivation firm, ever since they have made this announcement. They have risen by 22%. It happens to be the largest increase in a day. Also, it is the double of what they had incurred on the 3rd of November last year.

It has been informed that a drug potential of treating Type 2 diabetes has got approval by the federal court on Friday. The drug manufacturers have been seeking approval from past many years.

GlaxoSmithKline has announced that they would be applying their chronic Obstructive Pulmonary Disease (COPD) drug "Relovair" for regulatory approval by the mid of 2012. They are expecting to launch the medicine in Europe as well, but for the purpose of asthma.

Anglo-American drugs giant GlaxoSmithKline said clinical trial has given them an assurance that their drug would be a great hit in the multibillion-dollar market of lung medicines.

Novartis's consumer health unit has decided to recall some of its products in the United States with an aim to serve the consumers in the market with an improved quality standard product.

The US Food and Drug Administration has invited Amgen to attend the Oncologic Drugs Advisory Committee (ODAC) meeting on February 8, 2012. There, it would also be decided whether its XGEVA should be allowed for the treatment of men suffering from castration-resistant prostate cancer (CRPC).

It has been recently revealed that the Drug Controller General of India has recently given a green signal to Glenmark Pharmaceuticals for going ahead with the phase III trials of the new drug for the treatment of diarrhea. The name of the drug is Crofelemer, and is being developed in order to be able to treat acute diarrhea conditions suffered by adults.