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Business News

Opko Health Chairman, Chief Executive Frost Denies Wrongdoing in SEC Fraud Suit

Opko Health Inc (OPK) founder Philip Frost denied wrongdoing on Friday in response to a Securities and Exchange Commission fraud complaint filed against him last week that led to the company’s shares being halted. Trading in Opko resumed Friday afternoon after being halted on Sept. 7 at 2:34 pm ET. The shares fell 15% on Friday. “I was stunned by […]

Comcast Ups Sky Offer to GBP14.75 per Share
Business News / Stocks

Comcast Ups Sky Offer to GBP14.75 per Share

Comcast (CMCSA) said on Wednesday it has increased superior cash offer for the entire issued and to be issued share capital of Sky Plc (SKY.L) to GBP14.75 per share, implying a value of $34 billion (GBP26 billion) for the fully diluted share capital of Sky. Comcast said the the latest offer has been recommended by the Sky Independent Committee of […]

Alibaba Group Sells Healthcare Assets to Hong Kong Unit for $1.4 Bln
Business News / Markets

Alibaba Group Sells Healthcare Assets to Hong Kong Unit for $1.4 Bln

Alibaba Group Holding (BABA) said pre-market Tuesday it has decided to sell certain Tmall Pharmacy healthcare businesses to Hong Kong-listed Alibaba Health Information Technology Ltd. for HKD10.6 billion ($1.4 billion). The businesses transferring to Alibaba Health include medical devices and healthcare products, adult products and medical and healthcare services. The e-commerce giant also said it would raise its equity ownership […]

Myriad Genetics to Acquire Genetic Testing Startup Counsyl for $375 Mln
Business News / Markets

Myriad Genetics to Acquire Genetic Testing Startup Counsyl for $375 Mln

Myriad Genetics (MYGN), a molecular diagnostic company, said Monday it has signed a definitive agreement to acquire genetic testing startup Counsyl for $375 million in a cash-and-stock transaction. Counsyl provides carrier screening and non-invasive pre-natal screening services. The business has generated more than $134 million in revenue during the last 12 months. Under the deal, Counsyl shareholders may receive up […]

Pepsico Swallows Baked Fruit and Veggie Snacks Maker Bare Foods
Business News / Markets

Pepsico Swallows Baked Fruit and Veggie Snacks Maker Bare Foods

Pepsico (PEP) said on Friday it has entered into a definitive agreement to acquire Bare Foods Co., a U.S.-based maker of baked fruit and vegetable snacks also known as Bare Snacks, for an undisclosed sum to expand its snacking portfolio. “For nearly a dozen years, PepsiCo has been committed to Performance with Purpose, our vision of making more nutritious products, […]

Seattle Genetics To Present ECHELON-1 Trial of Adcetris Combination at Cancer Conference
Business News / Stocks

Seattle Genetics To Present ECHELON-1 Trial of Adcetris Combination at Cancer Conference

Seattle Genetics (SGEN) will present updated data from a phase 1 study of enfortumab vedotin for patients with metastatic urothelial cancer at the 2018 American Society of Clinical Oncology meeting in Chicago, Ill., in June. Data from this study formed the basis of the recent US Food and Drug breakthrough therapy designation for enfortumab vedotin. Multiple posters featuring sub-analyses from […]

Amneal Shares Rise
Business News / Markets

Amneal Shares Rise

Amneal Pharmaceuticals (AMRX) shares advanced in Thursday morning trading after the specialty pharmaceutical company said it has received final FDA approval on its “Abbreviated new drug application” for a generic version of Welchol tablets, 625 mg. Shares rose 2.5% in early trading. Amneal said it has immediately started commercialization activities for this first-to-market opportunity. “We are pleased to be one […]