interesting news today:

BEIJING, China (AP) -- Taiwan's opposition leader and Chinese President Hu Jintao promised on Friday to work together to end hostilities between Taipei and Beijing, during the highest-level meeting between the two sides since they split amid civil war nearly six decades ago. The Taiwanese government criticized the talks, saying they would do nothing to improve frosty relations. In a ceremony televised live in China and Taiwan, Hu and Nationalist Party Chairman Lien Chan smiled and shook hands in the Great Hall of the People, the seat of China's legislature in central Beijing. Beijing and Taipei should focus on "peace, stability and development for the future," Hu told Lien. Lien responded: "We absolutely should avoid confrontation and collisions. What we want is conciliation. We want dialogue."

Lien's visit is the first by a Nationalist leader since the party, which once ruled all of China, fled the mainland following its defeat by the communists in 1949.


Eli Lilly (LLY:NYSE - commentary - research) and partner Amylin Pharmaceuticals (AMLN:Nasdaq - commentary - research) announced approval of a new diabetes drug that the companies say will be in pharmacies by June. The Food and Drug Administration approved the Byetta injection as an adjunctive therapy for type 2 diabetes for patients who have not been able to control blood sugar levels using common oral diabetes drugs. The FDA says the drug is also approvable as a stand-alone therapy. Byetta, chemically known as exenatide, is the first drug approved from the class of incretin mimetics drugs, which work by stimulating insulin secretion, lowering blood-sugar levels after meals and while fasting. The drug restores the insulin secretion response in the pancreas, which is lost in patients with type 2 diabetes.

Eli Lilly shares were recently down 9 cents, or 0.2%, to $57.91. Amylin shares sank $1.77, or 9.7%, to $16.41.



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