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February 22, 2020
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Reuters - Business

Buffett’s Berkshire buys Kroger and Biogen, reduces Wells Fargo and Goldman stakes

Reuters
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Friday said it has taken a $549.1 million stake in Kroger Co, investing in the largest U.S. supermarket chain as smaller rivals struggle. FILE PHOTO – Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from......
Reuters - Business

More pain in store for Canadian marijuana companies after Aurora Cannabis, Tilray cut jobs

Reuters
TORONTO (Reuters) – Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis (ACB.TO) and Tilray (TLRY.O) announced cost reductions this week. FILE PHOTO: Cannabis plants grow inside the Tilray factory......
Reuters - Business

Drugmakers see long road ahead in coronavirus vaccine race

Reuters
(Reuters) – Drugmakers racing to find a vaccine or effective treatment for the deadly new coronavirus in China cautioned that they have a long way to go. That runs counter to reports of a supposed “breakthrough” that on Wednesday boosted financial markets and spurred optimism not necessarily backed by reality.......
Reuters - Business

Shanghai stocks hit by $370 billion wipeout as virus fears pound Chinese markets

Reuters
SHANGHAI/SINGAPORE (Reuters) – Chinese stock and commodity markets fell heavily at the open on Monday, in the first trading session after an extended Lunar New Year break, as investors dumped risky assets in response to rising fears about the spread of a new virus across China. Investors look at an......
Reuters - Business

Chinese markets tumble on coronavirus fears

Reuters
Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China, March 7, 2016. REUTERS/Aly Song/File Photo TPX IMAGES OF THE DAY – S1AETJYOONAA SHANGHAI/SINGAPORE (Reuters) – Chinese stock and commodity markets fell heavily at the open on Monday, in the first trading session after......
Reuters - Business

Investors brace for ugly start to post-holiday trade in China

Reuters
SHANGHAI/SINGAPORE (Reuters) – Investors are bracing for a potential plunge in Chinese markets on Monday when onshore trade in stocks, bonds, yuan and commodities resumes following the Lunar New Year break and a steep global selldown on fears about the spread of a new virus. Investors look at an electronic......
Reuters - Business

Insys founder Kapoor sentenced to 66 months in prison for opioid scheme

Reuters
BOSTON (Reuters) – John Kapoor, the founder of Insys Therapeutics Inc, on Thursday was sentenced to 66 months in prison for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis. FILE PHOTO: John Kapoor (R), the billionaire founder of Insys Therapeutics Inc., leaves the......
Reuters - Business

Insys founder faces stiff prison sentence, $100 million-plus in forfeiture

Reuters
BOSTON (Reuters) – John Kapoor, the founder of Insys Therapeutics Inc (INSYQ.PK), on Thursday could be sentenced to several years in prison and ordered to forfeit up to $113 million for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis. FILE PHOTO: John Kapoor,......
Reuters - Business

Eli Lilly targets quarterly deals of $1 billion-$5 billion in 2020: CFO

Reuters
SAN FRANCISCO (Reuters) – Eli Lilly and Co (LLY.N) aims to announce roughly one $1 billion to $5 billion deal every quarter in 2020, its chief financial officer told Reuters, as the U.S. drugmaker looks to build up its pipeline of future products. FILE PHOTO: Josh Smiley, senior vice president......
Reuters - Business

Samsung sets up anti-corruption panel as chief faces trials

Reuters
SEOUL (Reuters) – South Korea’s Samsung Group, whose leader faces trials over a bribery scandal involving former president Park Geun-hye, has appointed external experts to a new oversight panel to stamp out criminal conduct, the chief of the committee said on Thursday. FILE PHOTO: Samsung Electronics Vice Chairman, Jay Y.......
Reuters - Business

Left’s Citron hedge fund posts 43% gain in first year

Reuters
BOSTON (Reuters) – Andrew Left, who has long targeted companies that he thinks are over-valued through his work at Citron Research, told investors on Monday that his new hedge fund returned 43% after fees in 2019, its first year in business. FILE PHOTO: Andrew Left, the founder of Citron Research,......
Reuters - Business

Novartis, Merck and Allergan join those raising U.S. drug prices for 2020

Reuters
NEW YORK (Reuters) – Novartis AG, Merck & Co Inc and Allergan Plc were among companies that raised U.S. prices on more than 100 prescription medicines on Friday, bringing the tally to 445 drugs that will cost more in 2020, according to data analyzed by healthcare research firm 3 Axis......
Reuters - Business

More drugmakers hike U.S. prices as new year begins

Reuters
NEW YORK (Reuters) – Drugmakers including Bristol-Myers Squibb Co, Gilead Sciences Inc, and Biogen Inc hiked U.S. list prices on more than 50 drugs on Wednesday, bringing total New Year’s Day drug price increases to more than 250, according to data analyzed by healthcare research firm 3 Axis Advisors. FILE......
Reuters - Business

Astellas ramps up M&A, buys U.S. biotech Xyphos for as much as $665 million

Reuters
TOKYO (Reuters) – Astellas Pharma Inc (4503.T) has bought U.S.-based Xyphos Biosciences Inc to expand its immuno-oncology business, a deal worth up to $665 million including potential development milestones and its second acquisition announced this month. Astellas Pharma’s logo is pictured at its headquarters in Tokyo, Japan, December 3, 2019.......
Reuters - Business

Roche dives deeper into gene therapy with $1.15 billion Sarepta licensing deal

Reuters
(Reuters) – Roche Holding AG made its second major gene therapy deal in a year on Monday, spending $1.15 billion to obtain the rights to Sarepta Therapeutics Inc’s investigational drug to treat duchenne muscular dystrophy (DMD) outside the United States. FILE PHOTO: The logo of Swiss drugmaker Roche is seen......
Reuters - Business

Roche enters $1.15 billion licensing deal for Sarepta gene therapy

Reuters
FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann/File Photo ZURICH (Reuters) – Roche (ROG.S) entered into a $1.15 billion licensing agreement with Sarepta Therapeutics (SRPT.O) to obtain the right to launch and commercialize Sarepta’s gene therapy for......
Reuters - Business

SoftBank’s Son says Japan should make AI mandatory subject for college students

Reuters
TOKYO (Reuters) – SoftBank Group Corp (9984.T) Chief Executive Masayoshi Son said on Tuesday Japan should make artificial intelligence (AI) a mandatory subject for college entrance exams, to counter the yawning gap with the United States and China in the nascent field. FILE PHOTO: Japan’s SoftBank Group Corp Chief Executive......
Reuters - Business

Bristol-Myers wins $752 million in U.S. patent case against Gilead

Reuters
FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau (Reuters) – Bristol-Myers Squibb Co (BMY.N) on Friday said it won a $752 million jury verdict against Gilead Sciences Inc (GILD.O) in......
Reuters - Business

France’s Sanofi to buy biotech firm Synthorx for $2.5 billion

Reuters
PARIS (Reuters) – Sanofi (SASY.PA) said on Monday it had agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion aimed at beefing up the French drugmaker’s pipeline of drugs for cancer and auto-immune disorders. FILE PHOTO: The logo of Sanofi is seen at the......

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