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INDIANAPOLIS — One month after announcing it would acquire a leader in molecular imaging development, Eli Lilly announced it has completed its acquisition of Avid Radiopharmaceuticals.

LONDON — An Anglo-Swedish drug maker said it is discontinuing further development of a drug that is designed to prevent a respiratory virus that infects the lungs and breathing passages.

AstraZeneca has requested the withdrawal of its pending biological license application for motavizumab from the Food and Drug Administration. Motavizumab is an investigational monoclonal antibody that could prevent serious respiratory syncytial virus disease.

AstraZeneca said it will incur a financial impairment charge of $445 million in fourth quarter 2010.

ABBOTT PARK, Ill. — Abbott has made a pact with a biopharmaceutical company to develop new cancer treatments by making small-molecule inhibitors.

Under the terms of the agreement, Abbott will provide EpiTherapeutics with an up-front payment and will receive funding of research activities conducted at EpiTherapeutics. The biopharmaceutical company also is eligible, under certain conditions, to receive milestone payments as well as potential royalties on future revenues.

NEW YORK — A judge recently blocked AstraZeneca from attempting to impede the development of generic versions of its popular cholesterol drug, according to published reports.

WASHINGTON — A healthcare accrediting organization is revising three products in its Pharmacy Quality Management suite of programs.

URAC said its pharmacy committee approved revisions to its mail service, specialty pharmacy, and workers' compensation and property and casualty for pharmacy benefit management accreditation programs. The products revised include:

• Mail-service pharmacy, version 2.0;

• Specialty pharmacy, version 2.0; and

PRINCETON, N.J. — A biopharmaceutical company exclusively will develop and commercialize oral formulations of a drug maker's insulins.

Emisphere will be paid $57.5 million in potential product development and sales milestone payments by Novo Nordisk — of which $5 million dollars will be payable upon signing — as well as royalties on sales. Further financial details of the agreement were not disclosed.

FORT WAYNE, Ind. — Manchester College has received a $35 million grant from the Lilly Endowment to launch a new school of pharmacy.

Manchester College, a college of 1,278 students affiliated with the Church of the Brethren and based in North Manchester, Ind., said the grant would allow it to develop its first doctoral program on a campus in the nearby city of Fort Wayne, Ind. The Lilly Endowment was founded in 1937 with stock in Indianapolis-based drug maker Eli Lilly.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals' former SVP and corporate controller has been appointed to the role of interim CFO.

Philip Loberg immediately replaces the drug maker's current CFO, Peggy Mulligan. The company has initiated a search to identify a permanent replacement.