LONG BEACH, Calif., April 23- You've been on offense with your global stock portfolio for five years, running up the score in sectors like consumer discretionary and technology stocks that have outperformed the broad market. Jamie Doyle, co-manager of the Causeway Global Value Fund, is not ready to make a wholesale switch into defensive plays.» Read More
*Gilead Sciences rises in premarket after results. *Key earnings on tap; Apple, Facebook out after the close. *Gilead Sciences Inc rose 3.8 percent to $75.60 in heavy premarket trading a day after the drugmaker reported a sharp increase in its quarterly profit, helped by sales of its hepatitis C drug.
William Ackman, Pershing Square Capital Management, explains why he is helping Valeant buy Allergan.
J. Michael Pearson, Valeant Pharmaceuticals chairman & CEO, weighs in on news that Allergan has adopted a "poison pill" defense strategy. Also Pearson shares his thoughts on adding some of Allergan's notable cosmetic products like Botox and Restasis to its growing arsenal.
J. Michael Pearson, Valeant Pharmaceuticals chairman & CEO, explains why he decided to pursue Allergan and shares his R&D business model, with CNBC's Kate Kelly. This year we are launching 19 products in the United States, says Pearson.
William Ackman, Pershing Square Capital Management, explains why he decided to team up with Valeant Pharmaceuticals to make a play for Allergan.
Drugmakers eager to satisfy shareholders are wheeling, dealing, and in one case even making trades like a pro sports team looking to shake up its roster.
TOKYO— Shares were mixed in Asia on Wednesday, as weak data from China sapped upward momentum from an overnight rally on a flurry of deals in the pharmaceutical sector. Overnight, U.S. financial data and corporate earnings helped spur gains from deals by Switzerland's Novartis with Britain's GlaxoSmithKline PLC and the Eli Lilly& Co. of the U.S.
Swiss drugmaker Novartis AG on Tuesday said it's trading its vaccine business for GlaxoSmithKline Plc's cancer drug business and selling its veterinary drug business to Eli Lilly and Co. Meanwhile, Canadian drugmaker Valeant Pharmaceuticals International Inc. said it teamed up with activist investor Bill Ackman in a bid for Botox maker Allergan that could be worth about $45 billion.
April 22- At any given time, the acquisitive chief executive of Valeant Pharmaceuticals Inc is brokering multiple deal discussions and eyeing as many as 50 buying opportunities. Pearson's latest target, with help from activist investor Bill Ackman, is Allergan Inc, maker of anti-wrinkle treatment Botox.
CNBC's Patti Domm discusses the amount of merger activity happening this week with a big three-way deal in the drug industry, and the $46 billion bid by Valeant and activist Bill Ackman for Allergan.
NEW YORK— Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:. Harley-Davidson Inc., up $4.33 to $71.87. The Interpublic Group of Cos. Inc., up 49 cents to $17.36.
Despite higher sales, biotech drugmaker Amgen's first-quarter profit fell 25 percent as production and research costs rose sharply. The maker of injected osteoporosis treatment Prolia said Tuesday that net income was $1.07 billion, or $1.40 per share, down from $1.43 billion, or $1.88 per share, in 2013' s first quarter.
"Shark Tank" investor Kevin O'Leary discusses recent mergers between pharmaceutical companies.
CNBC's Meg Tirrell previews the earnings of biotech players Gilead and Amgen. Tirrell explains why investors will be focusing on Gilead's Sovaldi sales.
CNBC's Meg Tirrell; Herb Greenberg, CNBC contributor, and Arindam Nag, Mergermarket, discuss potential takeover targets in the pharmaceutical space.
*Netflix up after results, Facebook gains on upgrade. Healthcare, up 1.5 percent, was the best performing of the 10 major S&P sectors, as Allergan Inc jumped 15.8 percent to $164.48 a day after activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to bid for the company.
Barbara Ryan, CNBC contributor, shares an inside look at what's happening among the drug giants as billion dollar deals are announced and big player reshape the industry.
These companies have a lot of money and are signaling what they plan to do going forward, reports CNBC's Meg Tirrell on the mega deals in big pharma.
*Netflix results lift Wall St, deal talk buoys Europe. NEW YORK, April 22- Global equity markets rose on Tuesday, powered by solid U.S. corporate earnings and deal-making activity among European drugmakers, while the euro hovered near break-even on uncertainty whether the European Central Bank will further ease monetary policy.
In latest cycle, drugmakers use deals to narrow focus to boost prospects, satisfy shareholders Labor Department: Job market improved for 2013 college grads but remained weak General Motors asks bankruptcy court for protection from ignition claims before bankruptcy GM adding safety investigators, restructuring engineering organization in response to recall Valeant, Ackman looking to buy Botox maker Allergan in cash-and-stock deal worth about $45.6 B In latest round of change in pharmaceuticals industry, Novartis inks deals with GSK and Lilly Stock market pushed higher by corporate deal news and solid earnings; Allergan, Netflix jump Survey shows China manufacturing activity shrinks for 4th straight month but at slower pace Government says average airfare rose less than 1 percent to $381 per trip in 4 Q 2013 AT&T had strong 1st quarter on appeal of wireless installments plans