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M&A talk in the pharmaceutical sector lifted European shares on Tuesday, but failed to support the euro, which dipped to a two-week low against the dollar as ECB policymakers renewed efforts to weaken it.
While the talks between Pfizer, the world's biggest drugmaker, and $87 billion AstraZeneca have fizzled, an analyst at Citigroup Inc. expects Pfizer to approach the company again, or AstraZeneca could opt to merge with another peer such as Amgen Inc. as a defense tactic.
A raft of merger and acquisition activity in the global drug sector helped underpin equities on both sides of the Atlantic, as did better-than-expected earnings from companies including Netflix and Travelers.
A series of agreed or proposed drug company deals may herald a new era of acquisitions not seen since last decade as pharmaceutical companies improve their best businesses and exit weaker ones.
The S&P 500 finished the session 0.38% higher at 1,871.89. The gains were broad based as eight out of ten sectors finished on a higher note.
Pfizer Announces Positive Top-Line Results from Two Phase 3 Trials of Tofacitinib in Adults with Moderate-to-Severe Chronic Plaque Psoriasis NEW YORK-- Pfizer Inc. announced today top-line results from two pivotal Phase 3 trials from the Oral treatment Psoriasis Trials Program, OPT Pivotal #1 and OPT Pivotal #2 , evaluating the efficacy and safety ... (more)
Doctor, please, some more of these Shares of many of the world's big pharmaceutical companies are surging this morning amid a blockbuster deal, a Botox bid and plain old speculation.
Drug makers took center stage in European trading Tuesday, with shares of AstraZeneca PLC climbing on news of a potential takeover bid, and GlaxoSmithKline PLC rising as it sells one of its units in a multibillion-dollar deal.
Wall Street edged up on Monday in light trading as market participants parsed through a hodgepodge of deal news and corporate earnings.
The company manages its operations through five segments: Primary Care, Specialty Care and Oncology, Established Products and Emerging Markets, Animal Health and Consumer Healthcare, and Nutrition.
Kaplan Fox & Kilsheimer LLP announces a $190 Million settlement, subject to court approval, with Pfizer, Inc. and Warner-Lambert Co.
The Dow Jones Industrial Average has traded in a slim 58-point range today, and at last check, was up 29.8 points, or 0.2%, at 16,438.30, thanks to acquisition-related buzz for Pfizer Inc. .
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Last week's rally is looking more like the real deal and less like a mirage as stock futures tick higher this morning.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday April 18 through Sunday April 20, 2014.
Pfizer Inc., the world's biggest drugmaker, held informal, now-discontinued talks with AstraZeneca Plc about possibly buying the London-based maker of asthma and heart drugs, according to two people familiar with the matter.