Shares of Akcea Therapeutics were up more than 60 percent in trading after majority owner Ionis Pharmaceuticals announced it will acquire all outstanding shares of the company, which amounts to about 24 percent of available stock for $18.50 per share.
Maryland-based Novavax snagged $384 in additional grant funding to advance the company’s vaccine candidate against COVID-19.
Bristol-Myers Squibb Co. will buy Celgene Corp. for about $74 billion, creating one of the largest pharmaceutical companies and combining two significant cancer medicine businesses.
Shanghai Pharmaceuticals Holding Co. agreed to buy Cardinal Health Inc.’s China drug distribution business for $557 million, winning a highly competitive auction in a move that will greatly expand its presence nationwide.
Allergan Plc tried to reassure shareholders after losing a major patent ruling during October 2017 on its second-most important drug, the dry-eye treatment Restasis, downplaying the importance of the loss of revenue from the drug.
U.S. shareholder activists are addressing a soaring death toll from opioid drug abuse, asking companies that make and distribute the painkillers to review the risks their businesses could face from their role in the sector.