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Pittsburgh-based Mylan Laboratories Inc., the top maker of generic drugs in the U.S., said it will acquire Foster City-based Penederm Inc. for $205 million in stock, adding Penederm's line of skin-care drugs and products under development. Penederm shareholders will receive 0.68 of a Mylan common share for each of their shares. The transaction is valued at about $21.89 a share to Penederm shareholders.

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Woodland Hills-based Turbodyne Technologies Inc., a maker of antipollution devices for industrial and automotive applications, reported a net loss for the first quarter ended March 31 of $4 million, or 13 cents per share, compared with a loss of $2 million, or 12 cents, a year earlier.

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