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Dow dips more than 500 on worries about financials- The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector.
Congress scolds former AIG executives over crisis- Executives at American International Group Inc. hid the full range of its risky financial products from auditors as losses mounted, according to documents released Tuesday by a congressional panel examining the chain of events that forced the government to bail out the conglomerate.
Trailing Obama, McCain hopes to gain in debate- Leading in the polls, Barack Obama hopes to cement his standing while John McCain is trying to turn his fortunes around in their second presidential debate - with economic turmoil bordering on chaos suddenly serving as the backdrop.
- Barack Obama has his William Ayers connection. Now John McCain may have an Iran-Contra connection. In the 1980s, McCain served on the advisory board to the U.S. chapter of an international group linked to ultra-right-wing death squads in Central America.
- A U.S. military officer warned Pentagon officials that an American detainee was being driven nearly insane by months of punishing isolation and sensory deprivation in a U.S. military brig, according to documents obtained by the American Civil Liberties Union and provided to The Associated Press.
- Five Massachusetts men became the first divers to reach the wreck of a 19th-century steamship that sank in one of the most destructive storms in New England history, and say they saw an array of artifacts like dishes and mugs but no human remains.
- Don't give over-the-counter cold remedies to kids under 4, drug companies said Tuesday. What sniffling little ones need, doctors said, are plenty of fluids and lots of tender, loving care.
Nick Nolte breaks window to flee from burning home- Nick Nolte has escaped a fire that burned a Malibu home to the ground. The Los Angeles County Sheriff's Department says the actor slightly cut his hand when he broke a window and fled the home shortly after 11:30 a.m. Tuesday.
- A Kansas man whose girlfriend was physically stuck to the toilet in their home wins $20,000 in the state Lottery, for the second time this year. Kory McFarren cashed in his winning $2 Bonus Crossword ticket in Great Bend Monday.
Bonds says he's enjoying life away from baseball- Barry Bonds made a rare public appearance Tuesday and said he is enjoying life away from baseball. "I'm happy now that I have more time," Bonds told the crowd at the kickoff event of the Macy's Christmas tree lighting. "I've actually enjoyed myself immensely."
Abbott Opens New State-of-the-Art R&D Facility to Help Bring Medicines to Patients Faster
ABBOTT PARK, Ill.
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"The new formulation center is a clear example of Abbott's commitment to
advancing scientific innovation," said
The Formulation Development Center supports programs for both potent (drugs with highly active ingredients that require special handling) and non-potent oral compounds. This includes state-of-the-art capabilities for the safe formulation of potent compounds, such as cancer therapies, that are increasingly becoming more effective at low-dose levels.
Abbott's new facility is focused on transforming complex molecules from the laboratory into tablets and capsules that can be used in pre-clinical and clinical studies to determine safety and efficacy. Formulation is an important step in the research and development process, providing a crucial link between the laboratory and commercial manufacturing. Formulation and process work begins shortly after a candidate molecule is identified. Initial formulations are then refined as more information is gathered through the development process.
The center was specifically designed with cutting-edge equipment and improvements to advance the R&D process, including automated technologies that reduce the time for preparing, producing and refining pilot drug formulations. In addition, all of the equipment in the facility is aligned with the production equipment in Abbott's commercial manufacturing sites, which will allow for rapid scale-up of production as drug compounds move toward late-stage clinical trials and market availability for patients.
"We considered several locations for the new formulation center, but decided to strategically place the building in the midst of our other Abbott Park R&D facilities to provide easy access for our scientists, pharmacists and engineers," said Leonard.
Fast Facts for Abbott's New Formulation Development Center
-- Location: Abbott Park, Ill.
-- Size and structure: Two-story, 64,000-square-foot facility features a
flexible design with modular walls and ceilings that will allow for
rapid future expansion
-- Key Current Formulation Programs: Currently developing oral
formulations (capsule and tablet) for clinical studies involving new
compounds to treat cancer, hepatitis, pain and other areas
-- Investment: $53 million
-- Facility Initiated/Completed: Groundbreaking in June 2005; Completed in
January 2008
-- Personnel: Seventeen dedicated onsite employees; more than 40
additional staff regularly work in the facility
About Abbott
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs more than 68,000 people and markets its products in more than 130 countries.
Abbott's news releases and other information are available on the company's Web site at http://www.abbott.com.
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