(Information on Pfizer's acquisition of King Pharmaceuticals and offshore oil drilling regulations updated in today's Hot Trends article.)

NEW YORK ( TheStreet) -- "King Pharmaceuticals" is a hot search topic today following the news that Pfizer ( PFE) has struck a $3.6 billion deal to acquire pain-reliever specialist King Pharmaceuticals ( KG).

>> King Pharmaceuticals, Pain Therapeutics: Biotech Winners

The agreement helped boost shares of Pain Therapeutics ( PTIE), an early-stage painkiller developer. Pain has teamed with King on the development of Pain's lead drug candidate Remoxy, which is currently in clinical trials.

The companies have a licensing agreement for Remoxy, a "strong painkiller" which, according to Pain's press reports, has a "unique formulation designed to reduce potential risks of unintended use." Pfizer is likely interested in King's research on and involvement with "abuse-resistant" pain drugs.

"Offshore oil rigs" is a heavily search phrase today after the news that the U.S. government lifted the moratorium on deepwater drilling today.

>>Energy Winners: Gulf of Mexico Oil Companies Alive and Well

The Obama administration put the restrictions in place following the disastrous BP ( BP) oil spill in the Gulf of Mexico.

Drilling companies must file for new permits before they can start drilling again. In order to be cleared for operations, companies must meet a set of safety requirements. The CEO of each company must comply with new regulations in efforts to reduce the chance of future accidents.

"Internet TV" is a hot search topic today as Google ( GOOG) prepares to launch its highly anticipated Internet TV service, Google TV, this fall.

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