Do US firms have a duty to sacrifice their own interests for the broader good of the country?, asks law professor Dan Eaton.» Read More
LONDON/ MUMBAI, July 22- Indian generics firm Lupin, some U.S. drugmakers looking for a tax-saving deal in Europe and private equity funds are planning to bid for a range of older drugs being auctioned by GlaxoSmithKline, five sources familiar with the matter said.
New details from two studies reveal more side effects from niacin, a drug that hundreds of thousands of Americans take for cholesterol problems and general heart health. Some prominent doctors say the drug now seems too risky for routine use. Those details are in this week's New England Journal of Medicine.
The generic drugmaker Mylan Inc. announced this week that it is buying Abbott's generic-drugs business in developed markets for stock valued at about $5.3 billion. For the period ended June 30, Abbott— which makes infant formula like Similac as well as medical devices and drugs— earned $466 million, or 30 cents per share.
*Sanofi mulls fate of 200 older drugs including Plavix. *Sanofi also held talks with TPG and Warburg Pincus. PARIS, July 16- Sanofi has held talks with Abbott Laboratories, Mylan and private equity firms over the possible sale of a 6.3 billion euro portfolio of mature drugs, according to an internal document seen by Reuters.
PARIS, July 16- Sanofi has held talks with Abbott Laboratories, Mylan and private equity firms over the possible sale of a 6.3 billion euro portfolio of mature drugs, according to an internal document seen by Reuters.
Stocks may respond more to earnings news than the Fed Wednesday, now that Fed Chair Janet Yellen's first day of testimony is out of the way.
Increasingly, drug makers and medical device companies have found a way to self-medicate when it comes to taxes and regulation.
NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. Kodiak Oil& Gas Corp., up 68 cents to $14.91. URS Corp., up $6.38 to $58.40.
*Citigroup to pay $7 bln to settle U.S. mortgage probe. NEW YORK, July 14- U.S. stocks ended higher on Monday, with the Dow Jones industrial average hitting an intraday record, lifted by Citigroup's better-than-expected earnings and more deals in the healthcare space. Citigroup Inc shares jumped 3 percent to $48.42 and gave the S&P 500 one of its biggest boosts.
Stocks climbed on Monday, with the S&P 500 bouncing back from weekly losses, after Citigroup's earnings beat estimates.
Stocks are closing sharply higher as the market shakes off its worst weekly performance in three months. Citigroup rose 3 percent after the bank turned in better results than Wall Street expected. Mylan rose 2 percent after the company said it will buy Abbott Laboratories' generic-drug business.
Generic drugmaker Mylan Inc. said Monday it will become part of a new company organized in the Netherlands in a $5.3 billion deal to acquire some of Abbott Laboratories' generic-drugs business.
*Citigroup to pay $7 bln to settle U.S. mortgage probe. NEW YORK, July 14- U.S. stocks rose on Monday with the Dow Jones industrial average hitting a new intraday high, lifted by better than expected earnings from Citigroup and more deals in the healthcare space.
July 14- Generic drugmaker Mylan Inc said on Monday it would buy Abbott Laboratories' branded specialty and generics business in developed markets outside the United States in a $5.3 billion deal that will bolster its product line and also cut its tax bill.
*Citigroup up after earnings, settlement. NEW YORK, July 14- U.S. stocks rose on Monday, sparked by the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on pace to climb for a second straight session.
Stocks are moving sharply higher in midday trading as the market shakes off its worst weekly performance in three months. Citigroup rose 4 percent after the bank turned in better results than Wall Street expected. Mylan rose 3 percent after the company said it will buy Abbott Laboratories' generic-drug business.
Big mergers are afoot. But is a major shale oil deal a sign of a strong market?
Stocks are up sharply in early trading as the market shakes off its worst weekly performance in three months. Citigroup rose after the bank turned in better results than Wall Street expected and said it had reached a settlement in an investigation into its mortgage business.
July 14- Several multi-billion dollar deals and bids have made 2014 a busy year for healthcare acquisitions, despite Pfizer pulling its $118 billion offer for AstraZeneca.
Stocks shook off last week's doldrums and finished sharply higher Monday, driven by a round of corporate deal news and strong earnings from Citigroup. Investors cheered AECOM Technology's $4 billion acquisition of engineering and construction services company URS Corp., sending URS' stock up 11.6 percent and AECOM 8.6 percent.