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Merck & Co Acquiring Cubist Pharmaceuticals

Merck & Co is set to acquire antibiotics maker Cubist Pharmaceuticals in a deal that is estimated to be between $7 billion and $8 billion. A report cited a source that said Merck would pay Cubist close to $102 a share with an official announcement to come during the early part of this week. Cubist Pharmaceuticals is the maker of Cubicin, which was approved initially in 2003 by the Food and Drug Administration for treating skin infections and received approval three years later as a drug to treat infections in the bloodstream. The company has... 
 

Actavis Close to Deal to Acquire Allergan for $64 Billion

Actavis Plc is near a deal to acquire Allergan Inc for an estimated $64 billion, a deal that would help the Botox maker rebuff the hostile advance of Valeant Pharmaceuticals International, said people that have knowledge of the deal. A deal might be announced on Monday, said those same people. Actavis will play over $210 per share in stock and cash for Allergan. The bid includes a larger percentage of cash than the current offer from Valeant. The breakup fee is close to $2 billion. The two companies had tried to narrow a difference of $3 billion... 
 

Eli Lilly Earnings Meet Expectations

Eli Lilly & Company reported adjusted earnings for the third quarter of 66 cents per share that were in line with estimates on Wall Street but were 41% lower than earnings from the same period one year ago. Revenue for the third quarter was down 16% to just over $4.87 billion, which reflected the competition from generic drugs for Evista and Cymbalta in the United States. However, revenue was slightly higher than Wall Street estimates of 4.83 billion. Earnings, which include special items, declined by 58% to just 47 cents a harsh during the... 
 

Horizon Pharma Moves Overseas Defying Lawmakers

Despite an increasing amount of criticism from Washington lawmakers, a drug maker officially left the U.S. and opened its corporate offices in Ireland in a move that was designed to lower its taxes. Horizon Pharma closed its acquisition of $587 million for Vidara Therapeutics International a pharmaceutical company based in Ireland. The deal allows Horizon to move its corporate headquarters officially over to Dublin The announcement on Friday was on the same day that two U.S. Senators, Illinois’ Dick Durbin and Ohio’s Sherrod Brown, both who... 
 

Roche Acquires InterMune

Roche the pharmaceutical giant based in Switzerland is expanding its treatments for respiratory disease through its acquisition of InterMune a drug maker in Brisbane for more than $8.3 billion, said both companies. Roche agreed to acquire the drug maker at $74 a share in a transaction of all cash, price that was a premium of 38% over the closing price of the company stock on Friday of $53.81. This acquisition takes place as InterMune expects to win an approval that has been long coveted in the U.S. for pirfenidnoe, its treatment for the rare and... 
 

Sanofi to Market Afrezza the Inhaled Insulin Medication

Sanofi, a pharmaceutical company in France, has agreed to purchase the right to market Afrezza for $925 million. The drug was recently approved as an inhaled insulin treatment for diabetics that was developed by California based MannKind Corporation. Sanofi, which is Paris-based, said it was paying MannKind $150 million upfront. Alfred Mann is the entrepreneur physicist who owns MannKind. Following the first upfront payment, MannKind will receive up to $775 million more if certain regulatory and sales milestones are met. Sanofi plans to start sales... 
 

Roche to Acquire Seragon in U.S. for $1.7 Billion

Roche Holding AG announced that it would spend as much as $1.725 billion to purchase Seragon Pharmaceuticals, a U.S. biotech privately held company that researches treatments for breast cancer. Roche for very a long period of time has dominated the breast cancer field with drugs like Herceptim and just recently was given approval for Perjeta and Kadcyla, two other treatments for patients that have cancer cells that contain higher amounts of HER2 protein. Seragon, based in San Diego, was spun off last year from Aragon Pharmaceuticals when it was... 
 

AbbVie Bid for Shire Rejected as Low

Shire Plc has rejected a takeover bid of 27.3 million pounds or $46.5 million from AbbVie Inc as too low. This is the most recent attempt by a healthcare company from the U.S. to lower its corporate taxes by relocating to the United Kingdom. The offer, which was approximately 46.10 pounds per share, undervalues the company said Shire in an official statement. Shire shares surged up over 16% in trading, but the board at the drug maker unanimously rejected AbbVie’s bid. At this time, there are no ongoing talks and there is no certainty any further... 
 

Ex-Glaxo Chief in China Caught Up in Bribery Allegations

On Wednesday, China accused the former chief to GlaxoSmithKline in China of ordering his staff to commit bribery that resulted in revenue in the billions of yuan. Officials from the Ministry of Public Security in China at a briefing with the press alleged that Mark Reilly a UK national and former executive ordered his team of salespeople as well as other staff members to bribe organizations in healthcare, doctors and other parties to increase the sale of drugs for the company in China. An official with the ministry, Gao Feng, headed the government’s... 
 

Bayer AG Acquiring Consumer Business from Merck

Bayer AG, based in Germany, is acquiring the consumer business of Merck for an estimated $14.2 billion. Bayer will now be the owners of brands that are well known including Afrin, Coppertone and Claritin. The deal means the German based pharmaceutical giants will have a list of U.S. brands selling at pharmacies with the idea of expanding their sales over a broader global market. While the brands are already in markets around the world, the majority of their sales currently are based in the United States. Bayer, which is best known for aspirin, summed... 
 

Pfizer Reports Weaker Profits

Pfizer Inc the United States based pharmaceutical giant said its profit in the first quarter shrank by 15% due to weaker revenue in both of its largest businesses. The U.S. drug maker did not comment when it released its earnings about its attempt to acquire AstraZeneca, except to mention because of UK Takeover Code rules the company is not allowed currently to update or confirm its bottom line earnings guidance per share for 2014. Pfizer did confirm adjusted earnings and adjusted revenue guidance of 2014 that had been previously reported. Pfizer... 
 

AstraZeneca Offered $100 Billion by Pfizer

AstraZenca, the Anglo-Swedish pharmaceutical company saw it shares spike by 15% Monday after Pfizer the U.S. pharmaceutical giant said it had offered the company close to $100 billion to buy it. Pfizer, which is the maker of the famous blue pill Viagra, said its initial approach was rejected by AstraZeneca in January. The shares and cash deal would represent a premium of 30% on the closing stock price of AstraZeneca on January 3 of 35.26 pounds. AstraZeneca said the proposal had substantially undervalued the company and its future prospects. On... 
 

CVS Caremark Profit Increase by 12% in Fourth Quarter

Shares at CVS Caremark outpaced Tuesday’s broader market after the pharmacy chain increased its forecast for earnings for the beginning of 2014 and reassured its investors that its business could absorb the hit financially that was coming from its decision to stop the sales of tobacco in all of its stores. The company, based in Woonsocket, Rhode Island also reported earnings for the fourth quarter had climbed by over 12% and passed the expectations of Wall Street. CVS Caremark gained attention across the nation last week when it promised to phase... 
 

GlaxoSmithKline Stops Paying Doctors for Promotion of Drugs

GlaxoSmithKline the British pharmaceutical giant announced on Tuesday that it was stopping its payments to doctors who speak on behalf of the company. GSK also announced that pay for sales representatives would not be tied to how many doctor’s prescriptions were written. The move by the British drug maker ends two industry practices that had been heavily criticized. GSK announced it would no longer pay doctors to make speeches about its drugs or what types of diseases the drugs treated. Influencing prescriptions has been a long time practice in... 
 

Shire to Acquire ViroPharma for $4.2 Billion

Shire, based in Dublin announced on Monday that it had agreed to acquire ViroPharma for $4.2 billion to expand its rare disease treatments portfolio. The company said it agreed to pay $50 a share for the Pennsylvania based ViroPharma, which is 27% higher than the Friday price at closing and a premium of 64% over its September 12 close, when speculation first surfaced that the company had been reconsidering its future. While a number of companies in the pharmaceutical industry are opening their wallets to bring aboard innovative treatments aimed... 
 
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