Pharmaceutical

Covidien plans to spin off its pharmaceuticals division into a separate company. The independent division can better compete in the growing pain-management area, the company announced. The drugs division generates more than $2 billion in sales each year. Among its products are Exalgo, a 24- hour extended release opioid, and Pennsaid, a topical anti-inflammatory medication. The company's medical products business has annual sales of about $9.6 billion, according to the firm.

A new antibiotic designed to treat the diarrhea that accompanies Clostridium difficile won unanimous support from a government medical panel convened by the U.S. Food and Drug Administration.

President Barack Obama Tuesday fielded questions about healthcare reform at a tele-town hall meeting sponsored by AARP, a powerful seniors advocacy group. He discussed living wills, Medicare Part D, and when he can expect his own AARP card.