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Boston Scientific reaches first transvaginal mesh settlement

(Reuters) – Boston Scientific Corp on Tuesday said it reached its first settlement agreement to resolve a portion of the legal claims it faces involving its transvaginal mesh product to treat urinary incontinence. The medical device maker, in a regulatory filing, said it expects to pay about $119 million to resolve 2,970 cases. The Marlborough, […]

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Progress In Cancer Drug Lifts Merck Earnings, Sending Stock Higher

Like nearly every other company that does any business overseas, pharmaceutical giant Merck saw its revenue take a hit from foreign exchange during the first quarter of 2015. But because the company’s ultimate profit and revenue results were above what Wall Street was expecting to see — and because sales were helped by a promising new […]

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How Lead Product Dependency Shapes Corporate Strategy In Pharma

A number of recent high-profile events in the pharmaceutical industry have showcased the significance of lead product dependency – that is, the proportion of revenues a company derives from its largest selling drug – on corporate strategy. Indeed, lead product dependency has played an integral role in two recently proposed acquisitions with a combined value […]

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FDA enters consent decree with Medtronic, Inc.

Company cited for manufacturing violations WEBWIRE – Tuesday, April 28, 2015 The U.S. Food and Drug Administration announced the filing of a consent decree against Medtronic, Inc., and two of the company’s officers—S. Omar Ishrak and Thomas M. Tefft —for repeatedly failing to correct violations, related to the manufacture of Synchromed II Implantable Infusion Pump […]

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Mylan Rejects $40 Billion Teva Takeover Offer, Calls Stock Low-Quality

Generic drug-maker Mylan doesn’t appear to be very interested in a $40 billion takeover offer floated by competitor Teva Pharmaceuticals. On Monday, Mylan rejected the offer in a strongly-worded letter that characterized Teva as a ‘low quality’ stock and further stated the proposed deal lacks industrial logic and carries significant antitrust risk. “Simply put, the […]

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Mylan Board Unanimously Rejects Unsolicited Expression of Interest from Teva

POTTERS BAR, England, April 27, 2015 /PRNewswire/ — Mylan N.V. (NASDAQ: MYL) today announced that its Board of Directors has unanimously rejected the unsolicited expression of interest from Teva Pharmaceutical Industries, Ltd. (NYSE and TASE: TEVA) to acquire Mylan, which was announced by Teva on April 21, 2015.  After a comprehensive review conducted in consultation […]

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Celgene Picks Up San Francisco Biotech Quanticel in $485 Million Deal

SUMMIT, N.J. & SAN DIEGO—Celgene Corporation (CELG) struck a $485 million deal to acquire cancer drugmaking company Quanticel Pharmaceuticals, the company announced this morning. The deal between the two cancer specialists, has been nearly four years in the making, following a partnership established in 2011. The news of the acquisition sent Celgene’s stock up more […]

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Will Pfizer Make a Play for Struggling GlaxoSmithKline?

Almost a year after its $119 billion offer for AstraZeneca PLC (AZN) fell apart in the face of massive opposition from regulators and internal dissent, global drugmaker Pfizer Inc. (PFE) is once again being floated as a potential buyer of another marquee-name British pharmaceutical company: GlaxoSmithKline (GSK). A column in The Telegraph today said that […]

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Celladon to cut jobs as gene therapy fails key trial; stock plunges

(Reuters) – Drug developer Celladon Corp said it expected to announce lay-offs and cost cuts as its stock plunged to an all-time low after the company’s lead experimental gene therapy to treat heart failure failed a key trial. Celladon lost nearly 80 percent of its market value in early trading on Monday, with the stock […]

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Teva Reiterates Commitment to Cash-and-Stock Acquisition of Mylan for $82.00 Per Share

JERUSALEM–(BUSINESS WIRE)–Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today reiterated its commitment to its proposed combination with Mylan N.V. (NASDAQ: MYL). As previously announced on April 21, 2015, Teva has proposed to acquire Mylan for $82.00 per share, with the consideration to be comprised of approximately 50 percent cash and 50 percent stock. Teva’s […]

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