YouTube gets competition
Entertainment company, NBC Universal and media company News Corp have announced plans to launch an online video Web site that will offer premium video content from more than a dozen TV networks and two major film studios.

The companies will to join forces online partners like AOL, MSN, MySpace and Yahoo Inc., and includes large corporations that are already signing on as advertisers in the new venture.

Peter Chernin, president and chief operating officer of News Corp., said the deal is a "game changer for Internet video."

The new site is expected to be launched this summer and will include thousands of hours of full-length programming, movies and clips. AOL, MSN, MySpace and Yahoo will serve as the new site's initial distribution partners under the deal. Some of advertisers that have already signed up include Cadbury Schweppes, Cisco Systems Inc., Esurance, Intel Corp. and General Motors Corp.
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Pfizer loses Norvasc patent case
New York: A U.S. appeals court has overturned a patent decision given by a lower court, the U.S. District Court for the Northern District of Illinois court earlier which favored Pfizer Inc. in its bid to prevent Canadian drugmaker Apotex Inc. from launching a generic form of its blockbuster Norvasc blood-pressure drug.

Norvasc is Pfizer's second-biggest product, with global sales last year of $4.87 billion of which sales worth $2.5 billion werer in the US in 2006.

Shares of U.S. drugmaker Mylan Laboratories Inc. which has already won approval to sell generic forms of Norvasc in the United States were up 5 percent in midday trading.
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