GlaxoSmithKline Launches Hostile Takeover Bid for Human Genome Sciences
May 09 2012 11:17 AM EDT
GlaxoSmithKline Plc (NYSE: GSK) will begin a $2.6 billion hostile takeover bid for Human Genome Sciences (NASDAQ: HGSI), the company announced Wednesday.
Novartis Acquires Fougera In $1.5B Deal
May 02 2012 5:23 PM EDT
Swiss pharmaceutical company Novartis International AG / Sandoz (NYSE: NVS) announced Wednesday it would acquire Melville, N.Y.-based Fougera Pharmaceuticals for $1.5 billion in cash.The deal makes Sandoz, Novartis's generics drug division, the world's largest maker of generic dermatological drugs.
Stendra, Potential Viagra Alternative, Gets FDA Approval
April 30 2012 4:28 PM EDT
Stendra, the first new drug to enter the erectile dysfunction market in nearly a decade, aims to become the new Viagra alternative after receiving approval from the Food and Drug Administration.
Mergers, Acquisitions Increase: Sunoco, Delta, Payless Shoe
April 30 2012 2:32 PM EDT
Mergers and acquisitions are on the upstream as low interest rates, rising business and consumer confidence plus depressed prices for some assets have companies seeking buys that will allow them to expand or cut costs through synergy.
Xgeva: FDA Rejects Amgen's Application To Expand Use Of Drug
April 27 2012 10:50 AM EDT
U.S. health regulators rejected the application by Amgen Inc, the world's biggest biotechnology company, to expand the use of the drug Xgeva to delay the spread of tumors to the bone in patients suffering from advanced prostate cancer.
Moody's Warns That Supreme Court Ruling Against Health Care Mandate Would Crush Hospitals
April 24 2012 4:53 PM EDT
Hospitals would be crushed from the cost of caring for uninsured Americans if the U.S. Supreme Court overturns the health care reform mandate, which requires that most people obtain coverage, Moody's Investor Service said.
Watson Pharm Paying $5.92B For Swiss Drug Maker Actavis
April 24 2012 12:28 PM EDT
Watson Pharmaceuticals Inc. (NYSE: WPI) will announce on Wednesday the purchase of major Swiss competitor Actavis Group, according to media reports citing persons familiar with the negotiations.
Thomson Reuters Closes $1.25-Bln Deal Selling Health Care Unit To Veritas Capital
April 24 2012 10:58 AM EDT
Thomson Reuters Corp. (NYSE: TRI) announced Monday it has entered into an agreement to sell its Ann Arbor, Mich.-based health care unit to private equity firm Veritas Capital Management LLC for $1.25 billion. The sale is expected to close in the coming months pending regulatory approval.
George Rathmann: Amgen's Founding CEO Dies At 84
April 24 2012 10:05 AM EDT
George Rathmann, who helped build Amgen Inc from a start-up into the world's biggest biotechnology company as its founding CEO, died on Sunday, the firm said in a statement. He was 84.
Nestle May Sell Part Of Pfizer Nutrition After Purchase
April 23 2012 9:14 PM EDT
Swiss food group Nestle SA may sell 10 to 15 percent of the $11.9 billion baby food business it is buying from Pfizer Inc to address antitrust concerns, Bloomberg News reported Monday.
Common Cause Charges ALEC Members Cheated Taxpayers Of Millions In Lobbying Deductions
April 23 2012 1:35 PM EDT
The conservative American Legislative Exchange Council (ALEC), which receives funds from 140 U.S. companies, is breaking federal tax laws, Common Cause charged.
HeartWare Shares Up As FDA Safety Review Minimized
April 23 2012 10:29 AM EDT
U.S. medical device reviewers said HeartWare International Inc's blood pump seemed to help people with severe heart failure but raised concerns about device-associated clotting rates and stroke.
Nestle Buys Pfizer's Baby Food Business For $11.9 Billion
April 23 2012 10:17 AM EDT
Swiss food group Nestle is to buy drugmaker Pfizer's baby food business for $11.85 billion, beating out French rival Danone in the battle for dominance of fast-growing emerging markets.
GE Earnings Rise, Beating Estimates, As Industrial Business Benefits From New Orders
April 20 2012 11:13 AM EDT
General Electric Co. (NYSE:GE) reported first-quarter net income rose 3 percent as orders for its industrial products surged. Still, overall revenue dipped 8 percent.
McDonald Employee Marvin Washington Jr. Arrested For Spitting In Customer's Iced Tea
April 20 2012 5:10 AM EDT
A customer's worst nightmare came true when a South Carolina McDonald's employee allegedly spit into cups of iced tea that were returned by the customers since they were not sweet enough. The sickening event took place when a mother and a daughter visited McDonald's on Main Street over the weekend and picked up two iced teas from the drive-through, according to Associated Press.
EU OKs J&J $21B Buy Of Synthes, Pending Sale of DePuy Orthopaedics
April 19 2012 10:34 AM EDT
Johnson & Johnson secured approval for its $21.3 billion purchase of Synthes Inc. from the European Commission, Thursday, following an agreement to sell its DePuy Orthopaedics Trauma division in the face of possible antitrust concerns.
Abbott Lab Shares Up After Big 1Q Profit Increase
April 18 2012 8:45 AM EDT
Shares of Abbott Laboratories (NYSE: ABT) rose Wednesday after the health care products maker reported a 43 percent jump in first-quarter earnings on a higher sales in emerging markets and also raised its full-year earnings guidance.
Nestlé To Pay $9B For Pfizer's Infant-Nutrition Business: Report
April 17 2012 4:38 PM EDT
Nestlé SA is expected to pay at least $9 billion to U.S. drugmaker Pfizer Inc. for the U.S. drugmaker's infant-nutrition business, the Wall Street Journal reported Tuesday.
Parkinson's Disease Treatment: New Zealand Firm To Trial Pig Cells
April 17 2012 9:03 AM EDT
A New Zealand company plans to implant pig cells in the human brain in a clinical trial to treat Parkinson's disease and help improve movement and brain functions in patients.
Supreme Court Wrestles With Overtime Pay For Pharmaceutical Sales Reps
April 16 2012 8:07 PM EDT
The pharmaceutical industry is paying close attention to a case that could determine if about 90,000 sales representatives are entitled to overtime pay.