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AbbVie Makes ‘Transformational’ Move with $63 Billion Acquisition of Allergan

Illinois-based AbbVie announced that the company will acquire Ireland-based Allergan for $63 billion in a cash and stock deal.

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Akorn gets another FDA warning letter, shares slide

Akorn Inc. received a warning letter from the U.S. Food and Drug Administration regarding a manufacturing facility in New Jersey, the latest in a string of setbacks for the generic drugmaker, sending the company’s shares down nearly 13 percent.

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Bristol-Myers plans to divest Celgene’s psoriasis drug

Bristol-Myers Squibb Co. offered to divest Celgene Corp.’s psoriasis treatment Otezla to allay concerns raised by the U.S. competition regulator, and pushed back the closing of their $74 billion deal.

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Catalyst Pharma sues FDA over approval of cheaper rival drug

Catalyst Pharmaceuticals Inc., under fire for a high price tag on a rare disease drug, sued the U.S. Food and Drug Administration to challenge the recent approval of a lower-cost rival medicine.

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Insys Therapeutics Files for Bankruptcy

Days after agreeing to pay nearly $225 million in additional fines to the U.S. government for fraudulent marketing schemes to boost sales of the opioid Subsys, Insys Therapeutics filed for bankruptcy.

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Mallinckrodt to settle U.S. drug marketing probe, fight kickback case

Mallinckrodt Plc tentatively agreed to pay $15.4 million to resolve a U.S. Justice Department probe into how a drugmaker that the company now owns marketed an expensive treatment for a rare infant seizure disorder and multiple sclerosis.

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Bayer teams up with biotech firm Arvinas in deal worth up to $750 million

German drugmaker Bayer signed an alliance with Arvinas Inc. to gain access to the U.S. biotech firm’s experimental protein drugs and crop protection technology in a deal worth up to $750 million.

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Novartis’ breast cancer treatment wins FDA approval

The FDA approved Novartis AG’s Piqray in combination with a hormone therapy for postmenopausal women, as well as for men, with a form of advanced breast cancer.

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Shares of BioCryst Fall After Phase III HAE Drug Underwhelms Investors

Shares of North Carolina-based BioCryst Pharmaceuticals were down more than 53 percent after the company released data from a Phase III trial that underwhelmed analysts.

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Bayer shares near seven-year low after $2 billion award in Roundup trial

Bayer shares fell by as much as 5 percent after a California couple were awarded more than $2 billion in the largest U.S. jury penalty over allegations the company’s Roundup weed killer causes cancer.

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