Affymetrix Inc., which makes the GeneChip system for genetic data analysis, said Monday its third-quarter revenue fell below expectations because of increased competition and weak industrial spending.

Among the stock activity stories for Friday, Oct. 10, from AP Financial News:

Biotech drugmaker Amgen Inc. said a federal court has enforced a preliminary injunction barring Roche from launching an anemia drug that would compete against its products.

Angiotech Pharmaceuticals said Friday its corporate partner Boston Scientific Corp. received approval for its Taxus Libert drug-coated stent, which had been delayed by federal regulators.

The state of Alabama has settled Medicaid drug pricing lawsuits it filed against prescription drug manufacturer Bristol-Myers Squibb and four other companies, a lawyer representing the state confirmed Friday.

Shares of Cigna Corp. fell further than those of other managed care companies Friday, as investors worried about investment exposure to a shaky stock market.

Boston Scientific Corp. said Friday the Food and Drug Administration approved its long-delayed follow-up to the drug-coated stent Taxus.

Health insurers remain well-capitalized and likely to dodge massive write-downs, even though stock market jitters have sent share prices plunging recently, an analyst said Friday.

Medicis Pharmaceutical Corp. said Friday federal health regulators approved new labeling about the long-term effectiveness of wrinkle-filling drug Restylane.

Drug development contractor PPD Inc. said Friday it no longer expects to receive a $25 million milestone payment in the fourth quarter from Japanese drugmaker Takeda Pharmaceuticals.

Drug developer AstraZeneca said Friday the Food and Drug Administration approved an extended-release version of the bipolar-disorder drug Seroquel.

Supply issues that have plagued the solar industry in recent periods will likely ebb in 2009, an analyst said Friday while cutting estimates due in part to the current credit crunch.

Johnson & Johnson, a Dow component and the world's most diverse maker of health care products, reports earnings for the third quarter on Tuesday morning. The following is a summary of key developments related to the period.

Analysts on Friday brushed off Biogen Idec Inc.'s decision to abandon development of an experimental arthritis drug, saying it had not even been included in models for future revenue.

Just a year ago, investors were swaggering as the stock market surged to an all-time high. Now, almost everyone on Wall Street and Main Street seems to be shuddering amid a frightening reversal of fortune that has erased $8.3 trillion in shareholder wealth in the past 366 days.