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.» Read More
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
CNBC's David Faber and Jeffrey Ubben, ValueAct Capital Partners CEO, discuss Valeant Pharmaceuticals bid for Allergan and why Valeant needed investor Bill Ackman involved in the deal.
NEW YORK— Stocks are moving higher in early trading as investors assess more corporate earnings. Netflix rose 7 percent after the online video streaming service said its first-quarter earnings soared.
April 22- Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has partnered with activist investor Bill Ackman in an unsolicited $47 billion bid to buy Botox maker Allergan Inc in a move to eventually become one of the world's five biggest drug companies.
Eli Lilly and Co. received a key regulatory approval for a new cancer treatment Monday evening, but the drugmaker's shares slipped in premarket trading Tuesday after Lilly also announced a $5.4 billion acquisition.
Allergan surged after Valeant Pharmaceuticals said it had teamed up with activist investor Bill Ackman to make a bid for the Botox maker. Netflix and Harley-Davidson rose sharply after reporting earnings that beat analyst's expectations.
Valeant Pharmaceuticals and Bill Ackman are proposing a cash-and-stock deal for Allergan that could be worth about $45 billion.
The "Squawk on the Street" news team discuss all the M&A activity going on in pharma after Novartis is reported to be purchasing GlaxoSmithKline's oncology products unit for $14.5 billion. Separately Novartis is selling its animal health division to Eli Lilly for $5.4 billion in cash.
*Novartis to buy GSK's oncology assets for $14.5 bln. The deals, which include Novartis buying GSK's cancer drugs and GSK acquiring Novartis' vaccines business, came hot on the heels of a newspaper report that AstraZeneca had turned down a $101 billion bid approach from Pfizer- a story that sent shares across the sector surging.
The megabillion-dollar deals with Novartis also allow GlaxoSmithKline to "significantly expand" its world-leading vaccine business, GSK's CEO tells CNBC.
April 22- Canada's Valeant Pharmaceuticals International Inc said it offered to buy Botox maker Allergan Inc to boost its skin and eye-care portfolio. Valeant said it had offered to pay $48.30 per share in cash and 0.83 of its common share for each Allergan share.