Pharmaceutical Sector

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Abbott Laboratories Acquiring Medical Technology and Service Company St. Jude for $25 Billion

Abbott Laboratories Acquiring Medical Technology and Service Company St. Jude fo

On Thursday, Abbott Laboratories said it would buy Minnesota based, medical technology company St. Jude Medical Inc for $25 billion. Te main aim is to enlarge its heart device business. However, investors are worried that this acquisition will most probably not pay off like it's promised. It will be a cash-and-stock acquisition. Abbott plans to borrow money for the deal.

Michael Pearson, Valeant’s Outgoing CEO Admits Dramatic Increases of Certain Drugs was a Mistake

Michael Pearson, Valeant’s Outgoing CEO Admits Dramatic Increases of Certain Dru

On Wednesday, Valeant Pharmaceuticals International Inc's outgoing CEO Mr. Pearson told a Senate committee that the company was too aggressive in radically raising its drug prices and it was a mistake. The company's new CEO and the board members promise that a change will be noticed soon.

Reportedly Pfizer and Allergan Plan to End Merger Deal with New Stricter Tax Rules

Reportedly Pfizer and Allergan Plan to End Merger Deal with New Stricter Tax Rul

In a recent move the U. S Treasury Department proposed stricter rules that will make it difficult for the American companies to shift their tax bases abroad to a lower tax haven.

Investors Get Another Jolt as Valeant Offers Gloomy Earnings Outlook

Investors Get Another Jolt as Valeant Offers Gloomy Earnings Outlook

No matter how Valeant Pharmaceuticals International Inc. tries to win investors favor but its situation gets worse. The company reeling with troubles for months offered a financial outlook on Tuesday which turned out to be worse than people feared. Stocks dropped and the company's market value was cut into almost half.

Tax Fairness Advocates say Pfizer might Avoid Paying $35 Billion in Tax through Merger Deal with Allergan

Tax Fairness Advocates say Pfizer might Avoid Paying $35 Billion in Tax through

On Thursday, a report released by some tax fairness advocates said that Pfizer Inc. by merging with Ireland based Allergan Plc, will be able to avoid paying $35 billion in U. S. taxes permanently. However, a tax and accounting consultant says that the figure portrayed is "a little misleading."

Shkreli Refuses to Answer Questions from Lawmakers Invoking the Fifth Amendment

Shkreli Refuses to Answer Questions from Lawmakers Invoking the Fifth Amendment

A tsunami of rage rose against Martin Shkreli, the thirty two year old hedge fund manager who turned into the CEO of a pharmaceutical-company and bought the U. S. rights of one of the lifesaving drugs and immediately increased its price to more than five hundred to $750 per tablet from $13.50.

Martin Shkreli Served a Subpoena to Testify before the Committee on Oversight and Government Reform

Martin Shkreli Served a Subpoena to Testify before the Committee on Oversight an

Martin Shkreli, the American entrepreneur and financial and pharmaceutical executive who came to the limelight for sky rocketing prices of some essentials drugs, was arrested on some federal charges earlier.

Shkreli is facing other federal criminal charges accusing him of defrauding investors.

In a Money Saving Effort Johnson & Johnson will Trim Six Percent Jobs in its Medical-Device Division

In a Money Saving Effort Johnson & Johnson will Trim Six Percent Jobs in its Med

In a recent step taken by Johnson & Johnson to perk up its struggling business, the company said on Tuesday, it would trim approximately three thousand jobs in the medical devices division.

The positions that will be eliminated accounts for 2.5 percent of the 127,000 global employees and six percent of its medical-device division.

MannKind Names CFO Matthew Pfeffer as Its New CEO

MannKind Names CFO Matthew Pfeffer as Its New CEO

On Monday, Valencia, California based MannKind Corp. which is already going through doldrums with its share prices faced more confusion. The company said, it had been pushed to withdraw a job offer to a new chief executive.

KaloBios and Other Pharma Firms with Links to Martin Shkreli Headed for Trouble

KaloBios and Other Pharma Firms with Links to Martin Shkreli Headed for Trouble

Martin Shkreli's arrest has brought troubles for the pharma companied that he was connected to. KaloBios, the San Francisco based drug company has recently filed for bankruptcy. It earlier fired Shkreli as its CEO.

Things that Martin Shkreli files touches seems to with away and that's seems so true looking at the companies that he was linked to.

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