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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.
NEW YORK, July 14- U.S. stocks were poised for a higher open on Monday after the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on track to rebound from its worst weekly decline since April.
Mylan said it would buy Abbott Labs' generics business outside the United States in an all-stock transaction valued at about $5.3 billion.
*Move aimed towards making drugs more affordable in India. MUMBAI, July 14- India has capped the prices of more than 100 drugs used to treat diseases ranging from diabetes to HIV, a move likely to hit the profit margins of drug firms such as Sanofi SA, Abbott Laboratories and Ranbaxy Laboratories Ltd..
Some of the names on the move ahead of the open.
*Shire accepts Abbvie takeover offer. *London- listed drugmaker Shire Plc succumbed to an increased 31 billion pounds takeover offer from Abbvie Inc, ending a long-running courtship largely motivated by tax rates. U.S.-listed shares of Shire rose 2.4 percent to $255.10 while Abbvie shed 0.7 percent to $54.56 in premarket trade.
July 14- Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics business in developed markets outside the United States in an all-stock transaction valued at about $5.3 billion.
Drugmakers AbbVie and Shire have entered detailed talks about a possible combination after AbbVie raised its bid once again and offered to give Shire shareholders a bigger stake in the resulting company.
PITTSBURGH— The generic drugmaker Mylan is buying Abbott Laboratories' generic-drugs business in developed markets for stock valued at about $5.3 billion. The business to be acquired by Mylan encompasses more than 100 generic and specialty drugs sold in Europe, Japan, Canada, Australia and New Zealand. It also include manufacturing plants in France and Japan.
July 14- Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics business outside the United States in an all-stock transaction valued at about $5.3 billion.
MUMBAI, July 14- India's pharmaceutical pricing regulator has cut and capped the prices of more than 100 drugs used to treat diseases ranging from diabetes to HIV to malaria, a move likely to hit the profit margins of drug firms like Sanofi SA, Abbott Laboratories and Ranbaxy Laboratories Ltd..
Quarterly earnings growth and clues from companies' commentaries will tell whether there really will be a bounce back in growth in the second half.
U.S. generic drugmaker Mylan is said to be in advanced talks to buy a multibillion-dollar portfolio of established products from Abbott Laboratories.
Allergan told its stockholders not to respond to Pershing Square Capital Management's proposal to replace a majority of the board.
"I'm grateful that the SEC took the time to consider all the facts and drop the investigation," Matthew Korenberg, the former Goldman banker, said. Korenberg's lawyer John Hueston said the SEC had initially authorized its staff to take action against Korenberg, 39, who worked in San Francisco on Goldman's healthcare team.
Walgreen's chief, who said he was "proud of our Illinois heritage," is considering a deal that would move its HQ to Switzerland in a bid to cut taxes.
The "Fast Money" traders share their final trades of the day.
*Says deal would boost new AbbVie's adjusted EPS materially. LONDON, June 25- U.S. drugmaker AbbVie said on Wednesday it wanted to move rapidly to clinch a takeover of Shire as it set out the strategic rationale for buying the London- listed company, which has spurned its $46 billion offer.
U.S. stock index futures declined on Tuesday, ahead of further housing market data.
NEW YORK, June 24- U.S. stock index futures pointed to a flat open on Tuesday, suggesting investors continued to search for direction following a sharp rally that took indexes to records last week.