‘Tis the middle of the week and that can only mean one thing - a lot to do. For instance, Pfizer will brief Wall Street on its progress, or lack thereof, but more on that later. For now, let’s all grab a cup of something hot, or a bottle of water if you prefer, and catch up on sundry developments. We hope your day goes well. And by the way, if you hear anything interesting, drop us a line…

Teva Pharmaceutical filed a lawsuit against the FDA seeking 180-day exclusivity for a generic version of Johnson & Johnson’s Risperdal schizophrenia drug. Risperdal, which has global annual sales of about $3.5 billion, is expected to lose US patent protection in late June and face immediate competition from one or more generic drugmakers, Reuters reports.

PDL BioPharma can’t find a buyer, and so the drugmaker will stop looking for a buyer. But it will look for a permanent ceo. Meanwhile, 260 jobs will be cut on top of layoffs that followed recent asset sales. “Although we garnered interest regarding certain of our pipeline programs, we did not receive a firm offer for the company as a whole or for our biotech R&D assets,” PDL chairman Karen Dawes says in a statement.

Barr Pharmaceuticals may adjust its earnings forecast following a patent victory that makes it possible to sell a generic version of Bayer’s Yasmin contraceptive pill. “Clearly, this is a positive development for the company, and we are evaluating what the potential impact could be on our earnings guidance for 2008,” ceo Bruce Downey tells The Wall Street Journal.