Preventative asthma drug approved

KENILWORTH, New Jersey – Troubled pharmaceutical Schering-Plough announced Thursday that the FDA had approved its asthma drug Asmanex as a preventative therapy in patients age 12 years or older. A 400-person trial indicated that a daily dose of Asmanex improved the lung function of asthmatics and reduced their dependence on “rescue medicines” such as inhalers. The product has already been approved in 40 countries but approval in the U.S. does the most to ease pressure on the company’s balance sheet. The company filed a net loss of $168 million with the SEC in 2004. Schering-Plough also announced on Monday that it hopes to triple sales in Japan by 2010.

Hepatitis B drug slated for April 8

NEW YORK – Bristol-Myers Squibb announced on Thursday that the oral antiviral therapy Baraclude was approved by the FDA. The drug makes it difficult for the Hepatitis B virus to replicate inside cells and could be on the market as soon as April 8 according to the company. Bristol’s shares rose $0.09 to $31.12 in recent trading.

IScience Surgical gets $15 million

REDWOOD CITY, California – Device company IScience Surgical said Thursday that it has received $15 million in Series C financing. The company is developing products to help eye doctors drain the eyes of glaucoma patients. Glaucoma is a group of eye problems resulting from damage to the optic nerve and accounts for 9 percent to 12 percent of all cases of blindness in the U.S according to the Glaucoma Research Foundation.