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Biotech and Pharmaceuticals Pharmaceuticals

  • Feb 7- Drugmaker Perrigo Co Plc struck a deal on Tuesday with Starboard Value LP, agreeing to add three directors to the board as the activist hedge fund ramps up pressure on the company. Starboard's CEO and founder Jeffrey Smith, Advent International partner Bradley Alford and Lux Capital partner Jeffrey Kindler were appointed to the board on Tuesday.

  • Faber Report: Pharma fumbles

    CNBC's David Faber reports the details behind the latest headlines in the pharmaceutical industry.

  • TEL AVIV, Feb 7- The chief executive of Teva Pharmaceutical Industries has stepped down, leaving new management to overhaul the world's biggest maker of generic drugs and restore confidence after a series of missteps sent its shares plummeting. Teva, Israel's largest company, said late on Monday Chief Executive Erez Vigodman was departing immediately and...

  • Cardinal Health's quarterly revenue came in at $33.15 billion, missing estimates of $31.04 billion. "While management tends to be conservative, we suspect that price competition will have a negative impact on margins over the coming quarters," William Blair analysts wrote in a client note. Cardinal Health, which also makes surgical apparel and gloves, cut its...

  • Feb 7- Perrigo Co Plc said it has entered an agreement with Starboard Value LP, which owns about 6.7 percent of Perrigo's shares, regarding the membership and composition of the drugmaker's board. Starboard's CEO Jeffrey Smith, Bradley Alford and Jeffrey Kindler have been appointed to the board of the drugmaker. Perrigo's announcement comes nearly five months...

  • Cardinal Health, which also makes surgical apparel and gloves, cut its 2017 forecast for adjusted earnings from continuing operations to $5.35- $5.50 per share from $5.40- $5.60. Revenue fell 5.4 percent to $33.15 billion, missing estimates of $31.04 billion. Net income attributable to company was $324 million, or 1.02 cents per share, for the second quarter...

  • Feb 7- Drug distributor Cardinal Health Inc reported a 5 percent rise in quarterly revenue, helped by strength in its pharmaceutical business, which more than offset generic pricing pressure. Net income attributable to the company fell to $324 million, or $1.02 per share, for the second quarter ended Dec. 31, from $326 million, or 98 cents per share, a year earlier.

  • TEL AVIV, Feb 7- The chief executive of Teva Pharmaceutical Industries has stepped down, leaving new management to overhaul the world's biggest maker of generic drugs and restore confidence after a series of missteps sent its shares plummeting. Teva, Israel's largest company, said on Monday Chief Executive Erez Vigodman was departing immediately and would be...

  • TEL AVIV/ NEW YORK, Feb 7- The chief executive of Teva Pharmaceutical Industries, the world's biggest maker of generic drugs, stepped down after just 18 months following a series of strategic stumbles and legal and operational setbacks that sent its shares plummeting. Teva, Israel's largest company, said on Monday Chief Executive Erez Vigodman was stepping down...

  • Feb 6- Israel- based generic drugmaker Teva Pharmaceutical Industries Ltd said on Monday that Chief Executive Erez Vigodman was stepping down effective immediately and would be replaced on an interim basis by Yitzhak Peterburg, who has been chairman of Teva's board of directors. They hit $72 in late July of 2015 and closed at $34.35 on the New York Stock...

  • Feb 6- Israel- based generic drugmaker Teva Pharmaceutical Industries Ltd said on Monday that Chief Executive Erez Vigodman was stepping down effective immediately and would be replaced on an interim basis by Yitzhak Peterburg, who has been chairman of Teva's board of directors. Because Israeli company law calls for separation of the roles of chairman and...

  • Following approval from the Food and Drug Administration, Phase I clinical trials will start in the first half of this year, the company said on Monday. Its first such "off-the-shelf" cell therapy UCART19, which is being developed with Servier and Pfizer, is now being tested in Phase I trials in Britain for acute lymphoblastic leukaemia and chronic lymphocytic...

  • Feb 6- Mylan NV has agreed to pay $96.5 million to settle claims by drug purchasers that it delayed launching a generic version of Cephalon Inc's narcolepsy drug Provigil in exchange for payment from Cephalon. The settlement was disclosed in a filing by the drug purchasers in Pennsylvania federal court on Friday, and must still be approved by the court.

  • Mylan NL CEO Heather Bresch

    The money will go to purchasers that bought brand-name Provigil from Cephalon directly, like wholesalers and distributors.

  • Feb 6- Mylan NV has agreed to pay $96.5 million to settle claims by drug purchasers that it delayed launching a generic version of Cephalon Inc's narcolepsy drug Provigil in exchange for payment from Cephalon. The settlement was disclosed in a filing by the drug purchasers in Pennsylvania federal court on Friday, and must still be approved by the court.

  • HED LINE TK

    Tim Wentworth, Express Scripts CEO, speaks to CNBC about the future of Obamacare under the Trump administration.

  • *Walmsley takes over April 1 as generic Advair threat looms. LONDON, Feb 6- Emma Walmsley, GlaxoSmithKline's incoming CEO, will take over Britain's biggest drugmaker at a challenging time but the 47- year-old also inherits the flexibility to do deals and make key choices on new drugs. Just four days before Walmsley moves into the top job on April 1, U.S. regulators...

  • Express Scripts CEO: Transparency will bring drug prices down

    Tim Wentworth, Express Scripts CEO, says the company has invested heavily in digital tools to help members access the lowest price drugs.

  • Express Scripts CEO: Negotiating lower drug pricing

    Tim Wentworth, Express Scripts CEO, talks to CNBC's Meg Tirrell, about ways to drive down the low-term cost of drugs.

  • Feb 6- Express Scripts Holding Co, the largest pharmacy benefit manager in the United States, said prescription drug spending for its members slowed to less than 4 percent in 2016, at a time when scrutiny of drug price hikes has intensified. President Donald Trump in a meeting with pharmaceutical executives last week urged them to manufacture more of their...