September 4, 2012 |
Valeant Pharmaceuticals International Inc., Canada's largest publicly traded drug maker, agreed to buy Medicis Pharmaceutical Corp. for $2.6 billion to expand in wrinkle treatments and other skin care products. Valeant said it will pay $44 in cash for each share of Medicis, 39% more than the Scottsdale, Ariz., firm's Friday closing price. The transaction will close in the first half of 2013, Montreal-based Valeant said in a statement. The deal would be the largest for Valeant since it was created in a 2010 merger of Canada's Biovail Corp.
May 3, 2011 |
Teva Pharmaceutical Industries, seeking to expand its specialty drug portfolio, plans to acquire Cephalon Inc. for $6.8 billion. Teva, which is based in Israel, has a large manufacturing plant in Irvine. That plant resumed operation in April after closing for a year following a warning by the Food and Drug Administration over quality-control problems. Sales of Copaxone, used in the treatment of multiple sclerosis, constituted about 30% of Teva's earnings in recent years, said Judson Clark, a healthcare analyst with Edward Jones & Co. That dominance has been threatened recently by new multiple sclerosis drugs from rival companies, Clark said.
May 3, 2008 |
Valeant Pharmaceuticals International of Aliso Viejo said Friday that it was abandoning hope of becoming a global drug company and would cut nearly half of its workforce as part of a massive restructuring plan. The maker of neurology and dermatology drugs said it would lay off 130 employees in the U.S. and Mexico and eliminate 1,250 additional jobs overseas. The company will divest many of its overseas operations in the coming months, Valeant said.
November 14, 2006 |
UnitedHealth Group Inc. delayed filing its third-quarter financial report with U.S. regulators while the company, the largest U.S. health insurer, sorts out the costs of restating stock option grants. The costs will be "significantly greater" than the $286 million estimated in May, UnitedHealth said Monday in a notice with the Securities and Exchange Commission confirming a statement the company made on Nov. 8. UnitedHealth, based in Minnetonka, Minn.
January 7, 2005 |
Serving on a corporate board has traditionally been high in prestige, low on demands and, especially at big companies, generous in pay. But a settlement announced this week, in which 10 former WorldCom Inc. board members agreed to pay $18 million of their own money to settle a lawsuit by investors, suggests that directors may now become a bigger target for angry shareholders. "I'm sure right now it's disturbing to any director," said Richard H.
January 4, 2007 |
Two drugs once commonly used to treat Parkinson's disease, pergolide and cabergoline, produce heart valve defects in as many as a quarter of the patients who use them, Italian and German researchers reported today. Scattered findings from smaller studies have already suggested that the drugs pose a risk, but the two new papers in the New England Journal of Medicine show that the risk is much higher than suspected. "This is not a rare side effect," said Dr. Bryan L.
January 17, 2006 |
A Securities and Exchange Commission plan to require better disclosure of executive pay would force companies to reveal specific details about future benefits, perks and stock deals that are often hidden or omitted from regulatory filings. The commission is expected to vote today to seek public comment on the measure, a crucial step toward passage of a final rule this year. The initiative could lead to the first overhaul of pay disclosure requirements since 1992.