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  • AbbVie: $55B acquisition of Shire officially dead Monday, 20 Oct 2014 | 6:18 PM ET

    AbbVie will pay Shire a $1.64 billion breakup fee for walking away from the deal.

  • Oct 20- Generic drugmaker Actavis Plc and France's Sanofi SA are among the suitors for privately held Omega Pharma NV, Bloomberg reported, citing people familiar with the matter. Other bidders for the Belgian consumer healthcare company include Perrigo Co and private German drugmaker Boehringer Ingelheim GmBH, the sources told Bloomberg.

  • AbbVie to pay Shire $1.64B fee over nixed merger Monday, 20 Oct 2014 | 5:49 PM ET

    NORTH CHICAGO, Ill.— AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee. The two companies said Monday that they deal was off following the decision last week by AbbVie's board to withdraw support from the proposed acquisition. North Chicago- based AbbVie had envisioned...

  • Oct 20- U.S. drugmaker AbbVie Inc said on Monday it has reached agreement with Shire Plc to officially call off its proposed $55 billion purchase of the Irish company, and will pay Shire a $1.64 billion breakup fee for walking away from the deal. AbbVie, which last week said its board of directors had withdrawn its recommendation to proceed with the Shire purchase,...

  • Colorado pot brownies in limbo as state seeks ban Monday, 20 Oct 2014 | 1:53 PM ET
    Nearly 10 percent of Americans go to work high, according to a survey.

    Colorado health officials recommended a ban on some marijuana edibles to reduce confusion with regular food.

  • Oct 20- Allergan Inc shareholder Paulson& Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as an alternative to a deal with hostile bidder Valeant Pharmaceuticals International Inc, according to two people familiar with the matter. The hedge fund, which earlier supported a deal with Valeant, told Allergan CEO David Pyott...

  • Oct 20- Allergan Inc shareholder Paulson& Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as an alternative to a deal with hostile bidder Valeant Pharmaceuticals, according to two people familiar with the matter. The hedge fund told Allergan CEO David Pyott that it would support a deal with Shire, the sources said.

  • Cubist Pharma CEO Bonney will step down Dec. 31 Monday, 20 Oct 2014 | 10:13 AM ET

    NEW YORK— Antibiotic maker Cubist Pharmaceuticals said Monday that Michael Bonney will retire as CEO at the end of the year, and the company said it will promote President Robert Perez to take his place. Cubist Pharmaceuticals Inc. is based in Lexington, Massachusetts. Its shares rose 34 cents to $66.23 in morning trading Monday.

  • Valeant's bid for Allergan     Monday, 20 Oct 2014 | 7:22 AM ET

    Michael Pearson, Valeant Pharmaceuticals CEO, shares his thoughts on allegations Allergan released false and misleading information.

  • Michael Pearson, Valeant Pharmaceuticals CEO, breaks down the company's quarterly numbers and provides an outlook on future growth.

  • Can health-care stock funds stay on top? Thursday, 16 Oct 2014 | 2:53 PM ET

    NEW YORK— When swings in the stock market cause anxiety to spike, like it is now, many investors aim to get healthy. Stocks don't come with guarantees, but health care stocks have held up better than others during past downturns. People get sick regardless of the economy's strength, after all, and an aging population around the world means more demand for...

  • Oct 16- Medical device and drug maker Baxter International Inc reported a higher-than-expected quarterly profit, as sales in its medical products business continued to grow. The company, whose profit topped expectations for the fourth straight quarter, cut its 2014 earnings forecast to $4.86- $4.89 per share to exclude gains from its vaccine business that it...

  • Medical products push Baxter profit above estimate Thursday, 16 Oct 2014 | 7:16 AM ET

    Oct 16- Medical device and drug maker Baxter International Inc reported a higher-than-expected quarterly profit, as sales at its medical products business continued to grow. Net adjusted income rose to $741 million, or $1.35 per share, in the third quarter ended Sept. 30, from $681 million, or $1.24 per share, a year earlier. Analysts on average had expected...

  • *AbbVie board recommends shareholders vote against deal. *AbbVie to pay Shire $1.64 bln break fee if deal collapses. LONDON, Oct 16- U.S. drugmaker AbbVie has pulled the plug on its plan to buy Dublin- based Shire, recommending shareholders vote against the planned $55 billion takeover following new U.S. tax rules.

  • Roche sales beat forecasts, confirms outlook Thursday, 16 Oct 2014 | 3:34 AM ET

    Roche reported third quarter sales of 11.78 billion Swiss francs ($12.29 billion) on Thursday, above analysts' forecasts of 11.58 billion Swiss francs in a Reuters poll.

  • European shares halt sell-off as earnings reassure Thursday, 16 Oct 2014 | 3:13 AM ET

    PARIS, Oct 16- European shares rose in early trading on Thursday, taking a breather following the previous session's steepest sell-off since 2011, helped by a raft of reassuring corporate results. Shire bucked the trend, down 11.5 percent and plummeting for a second day, after U.S. pharmaceutical company AbbVie Inc recommended that shareholders vote against...

  • *AbbVie board recommends shareholders vote against deal. *AbbVie to pay Shire $1.64 bln break fee if deal collapses. LONDON, Oct 16- U.S. pharmaceutical company AbbVie has pulled the plug on its plan to buy Dublin- based drugmaker Shire, recommending shareholders vote against the planned $55 billion takeover following new U.S. tax rules.

  • SHANGHAI, Oct 16- A Chinese drugmaker with military ties has sent an experimental Ebola drug to Africa for use by Chinese aid workers and is planning clinical trials there to combat the disease, executives at the firm told Reuters on Thursday. Sihuan, part-owned by U.S. investment bank Morgan Stanley, is hoping to get the drug fast-tracked for civilian use in China.

  • Oct 16- U.S. pharmaceutical company AbbVie Inc recommended that shareholders vote against its $55 billion takeover of Shire Plc in the wake of a U.S. government move to curb deals designed to cut high taxes. "The agreed upon valuation is no longer supported as a result of the changes to the tax rules and we did not believe it was in the best interests of our...

  • Swiss drug maker Roche posts flat 9-month sales Thursday, 16 Oct 2014 | 1:37 AM ET

    GENEVA— Swiss drugmaker Roche Holding AG posted flat sales for the first nine months of 2014, but said Thursday the results show strong demand for its cancer drugs and emerging new products. The Basel, Switzerland- based company's group sales were reported at 34.8 billion Swiss francs, nearly unchanged from 34.9 billion francs in the same period last year.