Drugmakers eager to satisfy shareholders are wheeling, dealing, and in one case even making trades like a pro sports team looking to shake up its roster.» Read More
Baxter International Inc. rose$. 07 or. 1 percent, to $72.45. Bristol-Myers Squibb Co. fell$. 05 or. 1 percent, to $50.94. Hospira fell$. 12 or. 3 percent, to $43.59.
Baxter International Inc. rose$. 13 or. 2 percent, to $72.51. Bristol-Myers Squibb Co. fell$. 07 or. 1 percent, to $50.92. Hospira fell$. 21 or. 5 percent, to $43.50.
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.
Swiss drugmaker Novartis AG on Tuesday said it's trading its vaccine business for GlaxoSmithKline Plc's cancer drug business and selling its veterinary drug business to Eli Lilly and Co. Meanwhile, Canadian drugmaker Valeant Pharmaceuticals International Inc. said it teamed up with activist investor Bill Ackman in a bid for Botox maker Allergan that could be worth about $45 billion.
*Eli Lilly buys Novartis' animal-health arm for $5.4 bln. PARIS, April 22- The purchase of Novartis' animal-health business will strengthen Eli Lilly's hand in emerging markets, tapping into growing demand there for protein-rich diets and household treatments for pets, a senior executive at the U.S. group said.
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.
*Travelers and United Tech profits top expectations. *Netflix Inc surged 7.8 percent to $375.74 in premarket trading a day after results showed strong subscriber growth, a sign that the trading favorite still had room to grow despite concerns over its elevated valuation.
*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.
*Netflix jumps, results show strong subscriber growth. NEW YORK, April 22- U.S. stock index futures were flat on Tuesday as investors found few reasons to continue buying after a five-day rally in the S&P 500, though Netflix jumped following its earnings results.
LONDON, April 22- Shares in European drugmakers received a shot in the arm on Tuesday amid a flurry of activity, with Novartis striking a multi-billion dollar deal with GlaxoSmithKline and reports U.S. giant Pfizer had approached Britain's AstraZeneca over a deal.
*Novartis to buy GSK's oncology assets for $14.5 bln. *Lilly to buy Novartis' animal health arm for $5.4 bln.
Two of the world's largest pharmaceutical companies join forces, with GSK and Novartis agreeing to create a new consumer health-care business.
Pharmaceutical industry observers have been waiting for a rush of deals for months - and they might have finally arrived.
LONDON, April 22- M&A talk in the pharmaceutical sector lifted European shares on Tuesday, but failed to support the euro, which held at a two week low against the dollar on rising expectations of further policy easing by the European Central Bank.
*FTSEurofirst 300 up 0.9 pct, Euro STOXX 50 up 0.7 pct. *AstraZeneca jumps 7.4 pct on M&A talk. The euro zone's blue-chip Euro STOXX 50 index added 0.7 percent, to 3,175.96 points.
PARIS, April 22- European shares rose in early trade on Tuesday, adding to last week's rally, with AstraZeneca's stock surging on merger and acquisition talk. Shares in the UK drugmaker jumped 7.8 percent after Britain's Sunday Times reported that U.S. pharmaceutical giant Pfizer has approached its British rival to propose a 60 billion pound takeover.
ZURICH, April 22- Swiss drugmaker Novartis is transforming its business by exchanging certain assets with GlaxoSmithKline and divesting its animal health business to Eli Lilly in deals worth billions of dollars. Novartis said it had agreed to acquire GSK's oncology products for a $14.5 billion payment.
April 22- Eli Lilly and Co said on Tuesday it will buy Swiss drugmaker Novartis AG's animal health business for $5.4 billion in cash to strengthen and diversify its Elanco unit. Lilly said it plans to fund the deal with about $3.4 billion of cash on hand and $2 billion of loans.
April 22- Eli Lilly and Co said on Tuesday it will buy Novartis AG's animal health business for $5.4 billion in cash to strengthen and diversify its Elanco unit. Lilly said it plans to fund the deal with about $3.4 billion of cash on hand and borrow $2 billion. Eli Lilly said the transaction will add to its profit on a cash basis from 2016, excluding integration costs.