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RESEARCH

FDA, manufacturers partner on medical device research

The Food and Drug Administration said Monday it will collaborate with medical device manufacturers on a public-private partnership designed to speed up the development of new medical technology.

The agency said it hopes to offer guidance to the Medical Device Innovation Consortium, a new industry-backed group that aims to simplify the design and testing of medical devices.

FDA Commissioner Dr. Margaret Hamburg noted that many medical device companies are small businesses and don’t have the research budgets to find more effective ways of testing their products. She said the new group would pull information and ideas from industry, government and academia.

LENDING

Small-biz borrowing picked up in October

NEW YORK — Small-business owners borrowed more in October, a sign they might be getting more confident about hiring.

Lending to small companies rose 11 percent from September’s level, according to a survey released Monday by PayNet, which provides credit ratings on small businesses. Small-business lending has been erratic recently, dropping in September after increasing in July and August.

Several reports this week will show whether businesses stepped up their hiring during November. Among them: the Labor Department’s monthly employment report on Friday.

PHARMACEUTICALS

Pfizer laying off some sales representatives

NEW YORK — Drug maker Pfizer Inc. is starting another round of layoffs, targeting U.S. sales representatives who promote Pfizer primary care medicines to doctors.

The New York-based Viagra maker isn’t giving details on how many salespeople it employs, how many will leave or when that will happen. Individual salespeople haven’t been notified whether they’ll be furloughed.

FRAUD

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