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Pharmaceuticals

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  • 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.

  • *Hong Kong falls on weaker overseas markets. The CSI300 of the leading Shanghai and Shenzhen A-share listings also gained 0.6 percent. Du Changchun, Shanghai- based analyst at Northeast Securities, said China's stock market tended to track the overseas market in the first hour of trading, before adjusting to reflect domestic factors.

  • AbbVie recommends stockholders to reject Shire deal Thursday, 16 Oct 2014 | 12:55 AM ET

    Oct 16- U.S. pharmaceutical company AbbVie Inc recommended stockholders to vote against its $55 billion takeover of Shire Plc in the wake of a U.S. government move to curb "inversion" deals that allow companies to escape high U.S. taxes by reincorporating abroad. "The agreed upon valuation is no longer supported as a result of the changes to the tax rules and we did...

  • China sends Ebola drug to Africa, eyes clinical trials Thursday, 16 Oct 2014 | 12:49 AM ET

    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 a deadly outbreak of 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...

  • AbbVie sours on $55B Shire deal after tax changes Thursday, 16 Oct 2014 | 12:47 AM ET

    AbbVie's board is telling shareholders to vote against its own $55 billion takeover bid for the Irish drugmaker Shire after the U.S. made reincorporating overseas a less lucrative tax maneuver. If Abbvie does walk away, it would be the biggest deal yet that has collapsed after a public backlash against the moves, known as tax inversions, and changes in U.S. tax...

  • Oct 15- The U.S. Food and Drug Administration approved two drugs to treat idiopathic pulmonary fibrosis, marking its first-ever approvals for the fatal lung disease with no clear etiology and no cure. Roche Holding AG's Esbriet, which is already in use in Europe and Canada, and privately held German drugmaker Boehringer Ingelheim's Ofev both received the...

  • WASHINGTON, Oct 15- The U.S. Supreme Court on Wednesday appeared closely divided as it weighed Teva Pharmaceutical Industries Ltd's high-profile fight with generic drug manufacturers over patent protections for Copaxone, its top-selling multiple sclerosis drug. Israel- based Teva is battling to protect a key patent for the $4- billion- a-year MS drug that is...

  • New Ebola patient had 3 contacts before isolation Wednesday, 15 Oct 2014 | 1:35 PM ET
    Center for Disease Control (CDC) head Dr. Thomas Frieden speaks duing a briefing on the Dallas Ebola response at the CDC Headquarters on October 13, 2014 in Atlanta, Georgia.

    Three people had contact with the latest Ebola patient before she was isolated, said Dr. Tom Frieden. One texas Ebola patient will be moved to Emory.

  • WASHINGTON, Oct 15- The U.S. Supreme Court on Wednesday appeared closely divided as it weighed Teva Pharmaceutical Industries Ltd's high-profile fight with generic drug manufacturers over patent protections for Copaxone, its top-selling multiple sclerosis drug. The $4- billion- a-year drug accounts for 50 percent of Teva profits, and the patent fight is one...

  • Supreme Court weighs generic drug dispute Wednesday, 15 Oct 2014 | 11:36 AM ET

    WASHINGTON— The U.S. Supreme Court seems divided as it considers a high-stakes patent dispute between rival pharmaceutical companies over the world's best-selling multiple sclerosis treatment. Justices heard arguments Wednesday in a case that threatens to cut into the profits of Israel- based Teva Pharmaceutical Industries Ltd., which sells $4 billion...

  • Oct 15- Major U.S. drugmaker AbbVie Inc said on Wednesday it was reconsidering a $55 billion bid for Ireland's Shire Plc, marking a setback for "inversion" deals in which U.S. companies reincorporate abroad to cut tax costs. Steris Corp said on Monday it has offered to buy Britain's Synergy Health Plc for about $1.9 billion in a deal that would shift Steris' tax...

  • Ebola: Will we handle the next outbreak better? Wednesday, 15 Oct 2014 | 10:00 AM ET
    Italian Air Force soldiers attend a military exercise preparing to help people infected with the Ebola virus at the Pratica di Mare Air Base, near Rome, on September 24, 2014.

    The Ebola outbreak rages on. But there is no vaccine for this deadly disease, raising questions if the world is prepared for an epidemic.

  • Shire: AbbVie should proceed with $55B acquisition Wednesday, 15 Oct 2014 | 6:44 AM ET

    The drugmaker Shire wants AbbVie to stick with its roughly $55 billion acquisition bid, and it is reminding its U.S. counterpart of the hefty breakup fee it could receive if things don't work out. Shire's U.S.-traded shares shed nearly a quarter of their value Wednesday morning, a day after AbbVie Inc. disclosed that it was reconsidering a deal it had fought for...

  • China shares close up, led by airlines and brokerages Wednesday, 15 Oct 2014 | 3:07 AM ET

    SHANGHAI, Oct 15- China shares closed higher on Wednesday, shrugging off weaker-than-expected inflation data as investors bought into airlines, brokerages and pharmaceutical companies. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.7 percent. China's producer price index in September fell 1.8 percent from a year earlier, versus a...

  • Should AbbVie still pursue Shire?     Wednesday, 15 Oct 2014 | 2:15 AM ET

    Cole Smead, portfolio manager at Smead Capital Management, says that AbbVie's acquisition of Shire would be "very accretive" to shareholders and that the tax inversion part is not that important.