The big news from Johnson & Johnson occupied us for awhile, but now is a good time to catch up a bit on other developments. Here are a few that may go well with the stop at the water cooler or the cup of coffee you plan to have…

Celator Pharmaceuticals, a privately held biotech in Princeton, NJ, is exploring ways of combining drugs. In a chat with The Star-Ledger of New Jersey, the little company talks about its technology for determining the exact ratio at which combos perform at their peak. Its lead product, an early-stage colorectal cancer treatment, uses two previously approved cancer drugs in a formulation that ensures an optimum ratio is maintained. “That’s what I think separates us from everybody else,” boasts Andrew Janoff, Celator’s ceo and a co-founder of what used to be Liposome.

ImClone Systems disappointed this morning. The biotech, which is controlled by billionaire Carl Icahn, reported second-quarter profit fell 14 percent after US sales of its Erbitux cancer med declined more than expected, by 6.2 percent to $162.1 million. This follows a new deal with Bristol-Myers Squibb to increase research funding for Erbitux to expand its use beyond head and neck cancers and colon cancers. Meanwhile, ImClone hopes to name a new ceo next month.

In contrast to some rivals, Eli Lilly is using a do-it-yourself approach to entering biotech with in-house research favored over acquisitions. But the drugmaker hasn’t been able to convince Wall Street that it’s a major player. “Lilly is the No. 5 biotech company (by sales), but it doesn’t show up on people’s lists,” a frustrated John Lechleiter, Lilly’s president and chief operating officer, tells The Wall Street Journal (subscription required).

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