Category Archives: Corporate

Pfizer Pays $785 million to Resolve a 14-year-old Lawsuit

Pfizer Inc. (New York City) agreed to pay nearly $785 million to resolve a 14-year-old lawsuit claiming its Wyeth unit overcharged the government by hiding the discounts it was giving… Read more »

AbbVie Agrees to Buy Stemcentrx, Reports Jump in Earnings

U.S. biopharmaceutical firm AbbVie Inc. (North Chicago) on Thursday said it will acquire cancer biotech company Stemcentrx Inc. (South San Francisco) in a roughly $5.8 billion cash and stock deal that would expand… Read more »

Abbott to Acquire St. Jude Medical for $25 Billion

A rash of deals on Thursday showed that healthcare companies are convinced, regardless of tax benefits, that bigger is not only better, it is essential. The more than $40 billion… Read more »

Intuitive Surgical Reported Better-than-Expected First-Quarter Profit on Expanded Use of its Da Vinci Robots

INTUITIVE SURGICAL INC. (Sunnyvale CA) reported better-than-expected first-quarter profit on expanded use of its da Vinci robots in U.S. general surgeries such as hernia repair, and it raised its full-year… Read more »

AstraZeneca Joins with Three Partners to Focus on Genomics

AstraZeneca PLC (London), working with genome pioneer J. Craig Venter, PhD, is launching a massive gene hunt in the most comprehensive bet yet by a pharmaceutical firm on the potential… Read more »

UnitedHealth to Pull Back From Insurance Exchanges, Citing Losses

UnitedHealth Group Inc. (Minnetonka MN), the nation’s largest health insurer, told investors it continued to lose hundreds of millions of dollars selling individual policies under the federal healthcare law. The company… Read more »

Great Basin Scientific Surges on Preliminary Revenue Report

The molecular diagnostics company Great Basin Scientific Inc. (Salt Lake City UT) traded up for the week on reported preliminary revenue results. The first quarter results for 2016 are projected to come… Read more »

New Inversion Rules Test Pending Deals, WSJ Reports

The U.S. Treasury Department’s latest attempt at stopping corporate inversions last week spelled doom for Pfizer Inc.’s (New York City) $150 billion attempted takeover of Allergan PLC (Dublin IRL)–what would… Read more »