News Recap for Friday 07-02-10

Below is a list of the companies that made news in the healthcare sector on Friday, July 2, 2010.

China Medical Technologies, Inc. (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic ("IVD") company, today announced that it will report its unaudited financial results for the first fiscal quarter ("1Q FY2010") ended June 30, 2010 before the U.S. market opens on August 16, 2010.

DK Sinopharma, Inc., formerly known as Virtual Closet, Inc. (OTC Bulletin Board: VIRZ) today announced that on June 30, 2010, the Company’s name change from Virtual Closet, Inc. to DK Sinopharma, Inc. took effect in the marketplace.

Eli Lilly and Company (NYSE:LLY) and Alnara Pharmaceuticals, Inc. today announced they have signed a definitive merger agreement whereby Lilly will acquire Alnara, a privately held biotechnology company developing protein therapeutics for the treatment of metabolic diseases.

Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), announced today that a second large, Phase III, international study showed that the combination of Avastin® (bevacizumab) and chemotherapy, followed by the continued use of Avastin alone, increased the time women with previously untreated ovarian cancer lived without the disease worsening (progression-free survival or PFS, the primary endpoint), compared to chemotherapy alone.

IBM (NYSE: IBM) and the University of Missouri today announced a life sciences research initiative using IBM high performance computing technologies to advance the school's bioinformatics research projects.

Illumina, Inc. (NASDAQ:ILMN) today announced that it has appointed Nicholas J. Naclerio, Ph.D., to the position of senior vice president, Corporate Development, reporting to Jay Flatley, president and chief executive officer.

Impax Laboratories, Inc. (NASDAQ: IPXL) today confirms that it has initiated a challenge of a patent listed by Genzyme Corporation in connection with RENVELA® (sevelamer carbonate for suspension), 2.4 g and 0.8 g.

Spectrum Pharmaceuticals, Inc. (NasdaqGM: SPPI), a commercial-stage biotechnology company with a focus in oncology and hematology, announced the results of its annual meeting of shareholders, which was held today at the Company's global corporate headquarters in Irvine, California.

Watson Pharmaceuticals, Inc. (NYSE:WPI) today completed the acquisition of the U.S. rights to Columbia Laboratories' CRINONE® and PROCHIEVE® progesterone gel product line and 11,200,000 shares of Columbia common stock.

Yongye International, Inc. (Nasdaq: YONG) a leading manufacturer, developer and distributor of "Shengmingsu" brand plant and animal nutrient products in China, today announced that the Company has successfully increased the annual production capacity of its existing plant nutrient production line from 10,000 tons to 15,000 tons.