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December 14, 2019
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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

Factbox: How the North American trade deal will affect labor, environment, drugs

Reuters
(Reuters) – New amendments to the U.S.-Mexico-Canada trade agreement (USMCA) focus heavily on stronger labor enforcement, outlining a detailed process to address any allegations that Mexican factories are violating workers’ rights. FILE PHOTO: The flags of Canada, Mexico and the U.S. are seen on a lectern before a joint news...
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Factbox: Labor, environment, drugs top changes to North American trade deal

Reuters
MEXICO CITY (Reuters) – Stronger worker and environmental protections top the changes to a new version of the North American trade deal signed by top U.S., Mexican and Canadian officials on Tuesday that clears the way for a long-delayed vote in the U.S. Congress. The full text of revisions has...
Reuters - Business

States fight bonus pay for CEO of OxyContin maker Purdue

Reuters
(Reuters) – The chief executive officer of OxyContin-maker Purdue Pharma LP should not collect a potential $1.3 million bonus when he has been accused of contributing to the opioid epidemic, a group of state attorneys general said in a court filing on Monday. FILE PHOTO: Bottles of prescription painkiller OxyContin...
Reuters - Business

UnitedHealth forecasts 2020 earnings, midpoint below estimates

Reuters
FILE PHOTO: A UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. REUTERS/Lucy Nicholson/Illustration/File Photo (Reuters) – Health insurer UnitedHealth Group (UNH.N) on Monday issued its adjusted earnings forecast for 2020, the midpoint of which was below analysts’ estimates. The company said...
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Wave of European Cannabis firms to list in 2020, analyst says

Reuters
LONDON (Reuters) – Up to five companies active in the cannabis industry could go public in 2020 in Europe, a continent whose stock markets have largely missed out on the North-American “pot stocks” frenzy, a leading industry analyst said on Thursday. FILE PHOTO: Leaves of a Carmagnola hemp strain plant...
Reuters - Business

Novartis’s $90 million Swiss factory to help solve cell therapy bottleneck

Reuters
ZURICH (Reuters) – Swiss drugmaker Novartis’s (NOVN.S) new $90 million cell and gene therapy factory in northern Switzerland is on track to begin commercial production of treatments, including Kymriah for cancer and Zolgensma for spinal muscular atrophy, in 2020. The company’s logo is seen at the new cell and gene...
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Drugmakers slash prices in China to get on reimbursement list

Reuters
BEIJING/SHANGHAI (Reuters) – Drugmakers including Roche (ROG.S) and Novartis’ (NOVN.S) have agreed to cut the prices of some of their newest drugs by an average of 61% in China in order to get on a national reimbursement scheme list, regulators said. FILE PHOTO: Roche tablets are seen positioned in front...
Reuters - Business

U.S. prosecutors open criminal probe of opioid makers, distributors

Reuters
(Reuters) – Federal prosecutors are investigating six pharmaceutical companies for potential criminal charges in connection with shipping big quantities of opioid painkillers that contributed to a healthcare crisis, according to regulatory filings. FILE PHOTO: A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September 18,...
Reuters - Business

Federal prosecutors open criminal probe of opioid makers, distributors: WSJ

Reuters
(Reuters) – Federal prosecutors have opened a criminal investigation into whether pharmaceutical companies intentionally allowed opioid painkillers to flood communities, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. FILE PHOTO: A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September...
Reuters - Business

Novartis to buy U.S. biotech The Medicines Co. for $9.7 billion

Reuters
ZURICH (Reuters) – Novartis AG (NOVN.S) is buying U.S. biotechnology company The Medicines Co (MDCO.O) for about $9.7 billion, the Swiss drugmaker said on Sunday, as it seeks to expand its portfolio of medicines against cardiovascular disease. FILE PHOTO: Switzerland’s national flag flies in front of the logo of Swiss...
Reuters - Business

Novartis nears deal to buy U.S. biotech firm Medicines Co for about $7 billion: WSJ

Reuters
FILE PHOTO: Switzerland’s national flag flies in front of the logo of Swiss drugmaker Novartis in Basel, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann/File Photo (Reuters) – Swiss drugmaker Novartis AG (NOVN.S) is nearing an agreement to acquire U.S. biotechnology firm The Medicines Co (MDCO.O) for about $7 billion, the Wall...
Reuters - Business

OxyContin maker Purdue Pharma to pay states’ lawyers, urged to help victims

Reuters
(Reuters) – OxyContin maker Purdue Pharma LP got court approval on Tuesday to reimburse millions of dollars in legal fees for states that back its proposed $10 billion settlement of opioid lawsuits, but with a condition meant to help victims of the addiction crisis. FILE PHOTO: A pharmacist holds a...
Reuters - Business

Bristol-Myers Squibb wins antitrust approval to buy Celgene, but must divest psoriasis drug

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 WASHINGTON (Reuters) – Bristol-Myers Squibb Co and Celgene Corp have won U.S. antitrust approval for their merger on condition that they sell...
Reuters - Business

Oklahoma judge reduces Johnson & Johnson opioid payout to $465 million

Reuters
(Reuters) – An Oklahoma judge on Friday said Johnson & Johnson must pay that state $465 million for fueling the opioid epidemic through the deceptive marketing of painkillers, down from his original award of $572 million. FILE PHOTO: The company logo for Johnson & Johnson is displayed on a screen...
Reuters - Business

Biotech-for-hire PeptiDream charts new path and becomes short target

Reuters
TOKYO (Reuters) – The promise of PeptiDream Inc’s drug-discovery technology and its lucrative research-for-hire contracts have made it a darling of the Tokyo stock market. Now, those gains have made it a target for short-seller Muddy Waters. Patrick Reid, President and CEO of PeptiDream Inc, poses for a photograph at...
Reuters - Business

Juul Labs to stop sales of mint-flavored nicotine pods in U.S

Reuters
FILE PHOTO: Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. Picture taken September 26, 2019. To match Special Report JUUL-ECIGARETTE/ REUTERS/Elijah Nouvelage/File Photo (Reuters) – Juul Labs Inc said on Thursday it would immediately stop accepting orders for mint-flavored refills...
Reuters - Business

Alphabet board probes company’s handling of sexual misconduct allegations

Reuters
FILE PHOTO: A sign is pictured outs a Google office near the company’s headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Dave Paresh (Reuters) – The board of Google parent company Alphabet Inc (GOOGL.O) is investigating executives’ handling of sexual harassment and other misconduct claims, and expects to complete...
Reuters - Business

Mylan shares slide after warning of hit to revenue

Reuters
(Reuters) – Generic drugmaker Mylan NV (MYL.O) said on Tuesday reevaluation of its portfolio of medicines will continue next year and cautioned of a hit to revenue, and its shares nearly 6%. FILE PHOTO: Logo of Mylan Laboratories, a company primarily engaged in the commercialization of generic drugs is pictured...
Reuters - Business

AbbVie 2019 revenue forecast tops Wall Street estimates while it eyes future Botox sales

Reuters
(Reuters) – AbbVie Inc (ABBV.N) on Friday forecast 2019 revenue above Wall Street estimates and expressed confidence in future sales of blockbuster wrinkle treatment Botox, which it will acquire with its $63 billion purchase of Allergan Plc (AGN.N). FILE PHOTO: A screen displays the share price for pharmaceutical maker AbbVie...

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