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FORT WAYNE, Ind. — Manchester College has received a $35 million grant from the Lilly Endowment to launch a new school of pharmacy.

Manchester College, a college of 1,278 students affiliated with the Church of the Brethren and based in North Manchester, Ind., said the grant would allow it to develop its first doctoral program on a campus in the nearby city of Fort Wayne, Ind. The Lilly Endowment was founded in 1937 with stock in Indianapolis-based drug maker Eli Lilly.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals' former SVP and corporate controller has been appointed to the role of interim CFO.

Philip Loberg immediately replaces the drug maker's current CFO, Peggy Mulligan. The company has initiated a search to identify a permanent replacement.

WILMINGTON, Del. — The Food and Drug Administration has turned down AstraZeneca’s regulatory approval application for a drug to treat heart disease, the drug maker said.

The agency sent AstraZeneca a complete response letter requesting additional analyses of data from a clinical study of Brilinta (ticagrelor), but did not request additional studies. The drug is designed to treat acute coronary syndromes.

A complete response letter means that the FDA has completed its review of a drug application, but issues remain that preclude final approval.

FRAZER, Pa. — Frank Baldino, the founder, chairman and CEO of Cephalon, has died, the company said.

Cephalon announced that Baldino, 57, had died Thursday evening while on medical leave, calling him a pioneer in the biotechnology industry and an inspirational leader who would be “sorely missed.” Baldino, who received his doctorate in pharmacology from Temple University, founded the company in 1987 after several years at E.I. duPont de Nemours & Co.

WAYNE, N.J. — The Food and Drug Administration has approved a new oral contraceptive developed by Bayer.

Safyral is a combination of Yasmin, also developed by Bayer, with 451 mcg levomefolate calcium, which is a B vitamin known as a folate. It is the second oral contraceptive from Bayer that features folate.

SILVER SPRING, Md. — Just a few months after a Food and Drug Administration advisory committee recommended limiting the use of a Genentech drug designed to treat breast cancer, the regulatory agency is looking to revoke the approval altogether.

MORRISTOWN, N.J. — A subsidiary of Watson Pharmaceuticals has entered a licensing agreement with a subsidiary of Hungarian drug maker Richter to develop and market a drug for uterine fibroids, the two companies said Thursday.

Watson Labs and PregLem said European studies had shown Esmya (ulipristal acetate) to be a safe and effective treatment for the disease, a benign tumor condition that affects between one-fifth and one-fourth of women of reproductive age worldwide. Watson expected to start phase-3 studies of the drug in the United States in 2011.

NEW YORK — A subsidiary of Pfizer has extended the expiration date of its tender offer to acquire all outstanding shares of common stock of King Pharmaceuticals.

Parker Tennessee's tender offer now is scheduled to expire Jan. 21, as certain conditions to the tender offer wouldn't have been satisfied by the previously scheduled expiration date — which was Dec. 17 — including the expiration or earlier termination of any waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.