Hospira filed a lawsuit in U.S. District Court in Maryland on Tuesday asking for a temporary restraining order against the FDA, saying the agency's decision to allow generic Precedex went against its own rules.
WASHINGTON, Aug 7- An influential U.S. senator is encouraging the Internal Revenue Service to stamp out deals that allow companies to relocate their headquarters overseas in search of lower tax rates.
*Expects key drug launches in fourth quarter despite FDA delay. Aug 7- Political opposition to tax-inversion deals will not stop Mylan Inc's purchase of some non-U.S. businesses from Abbott Laboratories, Chief Executive Heather Bresch said, even as some companies have backed away from such tax arrangements.
*Cuts top end of FY earnings forecast to $3.45/ shr from $3.60/ shr. Aug 7- Mylan Inc shaved the top end of its full-year revenue and earnings forecasts, citing delays in approval from the U.S. Food and Drug Administration for key generic drugs that it plans to launch this year.
Aug 7- Generic drug maker Mylan Inc narrowed its full-year revenue and earnings forecast, citing delays in U.S. Food and Drug Administration approval of key products. The company narrowed its revenue forecast range to $7.8 billion- $8 billion from $7.8 billion- $8.2 billion.
Some of the names on the move ahead of the open.
Surely Congress didn't mean to include a "poison pill" for the Affordable Care Act when it passed it, says law professor Tim Jost.
After a split ruling on Obamacare from the courts, who gets the last word? Law professor Dan Eaton weighs in.
U.S. Treasury Secretary Jack Lew highlighted the decision American companies face—stay domestic and pay taxes or go abroad for savings.
Do US firms have a duty to sacrifice their own interests for the broader good of the country?, asks law professor Dan Eaton.
July 16- Abbott Laboratories Inc reported better-than-expected quarterly earnings on Wednesday as demand for its recently-recalled infant formulas began to recover and profit margins improved for other business segments.
Sanofi talked with Abbott Laboratories, Mylan and private equity firms over selling a portfolio of mature drugs, according to a document.
Treasury Secretary Jack Lew has urged Congress to crack down on merger deals in which companies seek to relocate overseas to cut US taxes.
Increasingly, drug makers and medical device companies have found a way to self-medicate when it comes to taxes and regulation.
*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.
*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.
Big mergers are afoot. But is a major shale oil deal a sign of a strong market?