Ligand Pharmaceuticals Inc. said Thursday it received a $2 million milestone payment from Merck & Co. as part of a research collaboration.

Congressional Democrats are seeking government investigations into recent price increases of brand-name prescription drugs, as Congress finalizes an overhaul of the healthcare system.

The Dow pared its gains in the final hour of trading after banking analyst Meredith Whitney said the recent market rally is not rooted in fundamentals and the U.S. economy is likely to fall back into a recession next year.

Federal health experts said Wednesday an updated version of Pfizer's best-selling anti-infection vaccine is safe and effective for infants and toddlers, despite company studies that failed to meet certain goals.

Stocks opened higher Monday, building on two weeks of gains, as a weak dollar boosted commodity stocks and a government report showed retail sales rose in October.

Even as drug makers promise to support Washington’s health care overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years, reports the New York Times.

Stocks opened higher Monday, building on two weeks of gains, as a weak dollar boosted commodity stocks and a government report showed retail sales rose in October.

Stock index futures are pointing to a higher open Monday after data showed that Japan's economy grew nearly twice as much as expected in the third quarter.

By Ellis Mnyandu

The results of a highly-anticipated head-to-head cholesterol drug study further calls into question the level of effectiveness of Merck's  blockbusters Zetia and Vytorin.

For top analysts from investment banks, including JPMorgan  and Credit Suisse , or some of their minions, the destination is a cardiology conference where on Monday morning medical researchers are expected to present a study with potentially significant implications for multibillion-dollar cholesterol medications from the drug giant Merck.

Drugmakers, Internet companies and nonprofits packed a hearing Thursday into what is a gray area for U.S. health regulators: how far social media can go in promoting drugs.

The new Merck becomes the world's second-biggest drugmaker overnight, and it's boasting a fat wallet to fund future deals.

Johnson & Johnson will eliminate about 6 percent to 7 percent of its global workforce, or some 7,000 to 8,000 positions, as the diversified healthcare company restructures and seeks cost savings, the company said Tuesday.

Stocks relinquished earlier gains Friday as investors began to lock in some profits after an earnings-fueled rally this week.