Abbott Laboratories (NYSE: ABT) recently announced that the company will purchase the pharmaceutical arm of Belgium’s Solvay Group for $6.5 billion. This deal expands both the company’s product range and the company’s presence in fast-growing emerging countries, helping defer the effect of patent expiries and compensate for sluggish growth in its traditional markets, such as the United States.

We also have the recent $442 million paid by Johnson & Johnson (NYSE: JNJ) for 18% of Crucell ADR (NASDAQ: CRXL). This will give Johnson & Johnson the development rights on a flu vaccine designed to protect against all future strains of the virus. This deal confirms the company’s move into vaccines, alongside drugs and consumer products.

These deals are further confirmation of the consolidation trend that is occurring right now in the global pharmaceutical industry.

One major factor driving the consolidation trend is the slowdown in sales of pharmaceuticals, particularly in the United

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Today, Nutra Pharma Corp., a biotechnology company that develops treatments for AMN, HIV and Multiple Sclerosis, announced the launch of an over-the-counter pain reliever, Cobroxin, for the treatment of Stage 2 chronic pain. Cobroxin is the first clinically approved OTC pain reliever for Stage 2 pain.

The drug, developed by Nutra Pharma’s subsidiary, ReceptoPharm, will be available as an oral spray. It is designed to treat lower back pain, migraines, neck aches, shoulder pain, cramps and neuralgia. It will also be available as a topical gel for treating repetitive stress, arthritis, and joint pain.

Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation, commented, “Cobroxin is a next generation pain reliever that addresses physician and consumer demand for a safer and less costly treatment for chronic pain. Cobroxin provides affordable and accessible pain relief for those without healthcare coverage, for those looking for a safer and effective treatment for pain,

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Red Hat’s Purchase; Toll Bros. NYC Worries; Dollar Rally; Unilever’s New CEO; Fed President Sees Room for Cut; Boeing’s Labor Woes Red Hat Inc. (RHT) yesterday (Thursday) announced it had purchased privately held software company Qumranet Inc. for $107 million in cash. The Raleigh-based software distrubutor expects the purchase to knock 5 to 6 cents off of its annual earnings per share, The Associated Press reported. Red Hat expects the deal to add $20 million in revenue by the next fiscal year. Homebuilder Toll Brothers Inc. (TOL) admitted to concerns about the New York City condo market, which has been one of the last holdouts of the current U.S. housing recession. “It has felt some of the storm that’s come to the residential real estate market in the country,” Chief Executive Bob ...