The board of Czech generic drugs maker Zentiva N.V. said Friday it has recommended that its shareholders reject a takeover offer from French pharmaceuticals maker Sanofi-Aventis SA.

Shares of Gilead Sciences Inc. fell sharply Friday as Wall Street viewed the drug developer's latest earnings report as sign that the company could be shifting to a more subdued level of growth as its HIV treatments saturate the market.

Life sciences company MDS Inc. said Friday it will cut about 210 jobs at its MDS Pharma Services and MDS Analytical Technologies divisions to reduce costs, and write down the value of a Canadian facility.

Molecular diagnostics company Celera Corp. said Friday the Food and Drug Administration approved new system software used for HIV monitoring and treatment.

Among the premarket stories for Friday, July 18, from AP Financial News:

Teva Pharmaceutical will buy rival generic drug company Barr Pharmaceuticals in a move that will boost Teva’s dominance as the world’s biggest generic drugmaker.

The Food and Drug Administration has unveiled a plan for recruiting young staffers to replace the hundreds of scientists retiring from the agency.

Covidien Ltd. said its board declared a quarterly cash dividend of 16 cents.

Thousands of Californians who lost their health coverage after filing claims with their insurance companies are about to get their policies restored.

A jury refused to award damages Thursday to a couple who sued drug maker Johnson & Johnson for $1 billion, claiming its Children's Motrin nearly killed their daughter and left her legally blind.

Shares of biotechnology giant Genentech Inc. rose Thursday as a Citi analyst pointed to the sales potential for the cancer treatment Avastin as a reason to own the stock.

Shares of Baxter International rose to an all-time high Thursday after the company reported earnings that beat Wall Street expectations, due to higher sales of biotech drugs and vaccines.

Strong sales of biotech drugs and vaccines drove second-quarter profit up 26 percent for drugs and medical device maker Baxter International Inc., beating Wall Street estimates.

Among the earnings stories for Thursday, July 17, from AP Financial News:

Among the earnings stories for Thursday, July 17, from AP Financial News: