Some of the names on the move ahead of the open.» Read More
NEW YORK, Sept 16- Some of the top 20 investors at Salix Pharmaceuticals Ltd are threatening to vote down a proposed deal to buy a unit of Cosmo Pharmaceuticals SpA, and are pressing Salix to consider selling itself instead, people familiar with the matter said on Tuesday.
The heightened rhetoric comes as Chicago tries to recover millions in health care costs from opioid drugmakers, alleging that companies deliberately misled the public about the risks of their drugs.
ALBANY, N.Y.— New York's attorney general filed a federal lawsuit Monday seeking to stop a manufacturer from discontinuing its drug widely used to treat Alzheimer's patients, arguing the company is illegally driving patients to its newer patented drug to avoid losses from cheaper generic alternatives coming out next year.
*AstraZeneca shares up 2 percent. LONDON, Aug 29- Hopes for AstraZeneca's promising cancer drug pipeline were boosted on Friday by news the company had moved its immuno-oncology medicine MEDI-4736 into a mid-stage study in colorectal cancer.
Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.
BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.
NEW YORK, Aug 13- U.S. stocks rose on Wednesday, with the Dow returning to positive territory for the year as the market shrugged off weak earnings reports and a slump in retail shares. Biotech shares surged, with the Nasdaq biotech index climbing 2.1 percent on the back of stocks including InterMune Inc and Jazz Pharmaceuticals PLC.
Aug 5- Generic drug maker Actavis Plc's full-year profit forecast missed analysts' estimates, sending its shares down about 3 percent in premarket trading. Actavis said it expects profit of $13.02- $13.32 per share for the year ending x, below Wall Street estimates of $13.73 per share. Excluding items, Actavis earned $3.42 per share in the second quarter.
Aug 5- Generic drug maker Actavis Plc's quarterly revenue rose 34 percent due to strong growth in its North America business. The company had a net profit of $48.7 million, or 28 cents per share, attributable to shareholders for the second quarter ended June 30. Excluding items, Actavis earned $3.42 per share in the second quarter.
NEW YORK, July 28- Pfizer Inc's vulnerability to cheaper generics and its weak roster of experimental medicines will be on display Tuesday when the company reports quarterly earnings, reviving interest in its pursuit of AstraZeneca Plc or other deals to fortify its pipeline.
NEW YORK, July 16- Hedge fund manager Leon Cooperman, who has forecast that the Standard& Poor's 500 stock index will hit 2000 this year, cautioned on Wednesday that gains will be slower as the market is more fairly valued now.
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.
U.S. generic drugmaker Mylan is said to be in advanced talks to buy a multibillion-dollar portfolio of established products from Abbott Laboratories.
Medical technology group Medtronic Inc said last month that it plans to buy Covidien Plc, a rival based in low-tax Ireland. The research service said other inversions have been done in the past decade by Mallinckrodt Pharmaceuticals, Perrigo Co Plc, Actavis Plc and other companies, many of them rebasing for tax purposes to Ireland.
Some of the names on the move ahead of the open.
WASHINGTON, June 30- Generic drugmaker Actavis Plc has won U.S. approval to buy specialty pharmaceuticals company Forest Laboratories on condition it sell or relinquish the rights to four generic medicines, the Federal Trade Commission said on Monday.
June 26- Acorda Therapeutics Inc said Actavis Plc plans to market a generic version of Acorda's multiple sclerosis treatment, Ampyra. Ampyra, which was approved in January 2010, had net sales of $72.5 million in the first quarter ended March 31.
*Move bolsters Shire in defence against AbbVie. *AbbVie to put its case to Shire shareholders- source. LONDON, June 25- Shire, which has spurned a $46 billion takeover offer from U.S. group AbbVie as inadequate, has a new reason to argue it is worth more after a U.S. court backed patent claims on its top-selling drug Vyvanse.
June 3- The city of Chicago has filed a lawsuit against five large narcotics makers alleging they contributed to the country's prescription drug epidemic by deceptively promoting their painkillers.
China has been a magnet for the big global pharmaceutical companies and other healthcare firms as growth slows in Europe and the United States. While global drugmakers withhold their China profit figures, the analysis suggests profit growth is harder to come by- a concern as many global firms look to China as a future growth driver.