Medtronic Acquires Covidien in $42.9 Billion Deal

US medtech company, Medtronic have confirmed the purchase of Ireland’s Covidien for $42.9 billion in cash and stock. Medtronic is the second-largest maker of medical devices, and once the transaction has been completed, the company noted that will have “significantly advanced” their position as a global “premier medical technology and services company.” The combined group,

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Positive Clinical Trial Results for Bristol-Myers Squibb’s Immunotherapy Combo

Results of a clinical trial combining Bristol-Myers Squibb’s Yervoy and Nivolumab show an exceptional improvement in tumour regression and overall survival rate for patients with advanced melanoma. Mario Sznol of Yale University School of Medicine, reporting the results of the early-stage study, commented that “this is the first trial conducted with this combination in melanoma.” 

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Bristol-Myers Squibb Announce Oncology Research Collaborations with CytomX and Incyte

Bristol-Myers Squibb (B-MS) yesterday announced a worldwide research partnership and license agreement with CytomX. The collaboration plans to discover, develop and commercialise novel therapies against multiple immuno-oncology targets using CytomX’s proprietary Probody Platform. Probodies are monoclonal antibodies selectively activated within the cancer microenvironment, to focus the activity of therapeutic antibodies to tumours and helping spare

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Valeant Pharmaceuticals Plan Improved Allergan Bid

Valeant yesterday confirmed that they are planning on making an improved, bigger offer for Allergan after their initial unsolicited $46 billion takeover offer was rejected. US pharmaceutical company, Allergan, who are best-known for their Botox, rejected Valeant and investor Bill Ackman’s Pershing Square Capital Management’s offer earlier this week, commenting that the offer substantially undervalues

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Merck & Co Announce Increased Profit for Q1

Merck & Co’s have released their Q1 results for 2014, showing an increase in profit, despite being hindered by unfavourable exchange rates and patents expiring. The healthcare company announced net income of $1.70 billion, an increase from the $1.59 billion net income of Merck & Co’s first quarter of 2013.  However, turnover for the business

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Abbott Announces 2014 Q1 Results

Abbott yesterday revealed financial results for the first quarter of 2014.  The company announced worldwide sales of $5.2 billion. Excluding foreign exchange, the company-wide results included an increase of 0.5% on an operational basis and a decrease of 2.5% on a reported basis. International sales, which make up over 70% of Abbott’s total sales, increased

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Meda Rejects Mylan Takeover Bid

Swedish drugmaker, Meda, have confirmed that they have rejected a takeover bid from US generics major, Mylan. Shares in Meda, which markets specialty treatments, over-the-counter products and branded generics, were frozen after a report from the Financial Times noted that Mylan was planning to submit an offer that would create a $23 billion company.  The Financial Times cited someone

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