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GSK raises $853 million by halving stake in South African drugmaker

2015-03-13 12:04:30| Biotech - Topix.net

GlaxoSmithKline has taken profits in Aspen Pharmacare by selling half its stake in the South African drugmaker for $853 million , following a long investment in the firm. The sale, which was conducted through a share placing at a discount to the market price, is the latest example of GSK pruning non-core investments as it refocuses its business and works to protect its sizeable dividend payments to shareholders.

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AbbVie to buy leukemia drugmaker Pharmacyclics for $21B

2015-03-06 06:29:46| Food - Topix.net

AbbVie will spend about $21 billion to buy fellow drugmaker Pharmacyclics and add another major revenue producer to a portfolio that already includes the world's top-selling drug. The deal will give the North Chicago, Ill., drugmaker Imbruvica, a blood cancer treatment that Pharmacyclics makes and then markets with Johnson & Johnson's Janssen Biotech.

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Bayer crown prince vows independence for diversified drugmaker

2015-02-28 20:42:06| Chemicals - Topix.net

Werner Baumann, seen as heir apparent to Bayer Chief Executive Marijn Dekkers, says he will fight for the independence of Germany's largest drugmaker after the spin-off of its plastics unit. "We will always try anew every day to defend our independence through our performance and the decisions that we make," said the 52-year-old, who will head Bayer's main healthcare arm from April.

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Pharmacyclics said to weigh sale of U.S. cancer drugmaker

2015-02-26 02:33:48| Biotech - Topix.net

Pharmacyclics, which makes a fast- growing cancer drug and is valued at more than $15 billion, is exploring options including a sale, said people with knowledge of the matter. The Sunnyvale-based drugmaker has attracted interest from companies including Johnson & Johnson and Novartis, the people said, asking not to be identified discussing private information.

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Chinese health official linked to fined British drugmaker GSK is jailed for 19 years over bribes

2015-02-16 10:39:41| Biotech - Topix.net

Huang Fengping, former deputy director of the Shanghai Municipal Commission of Health and Family Planning, found with more than 400 envelopes full of cash at his home, as well as gold bars in his car. A Shanghai health official, whose case was previously linked to British drugmaker GlaxoSmithKline, which was fined last year for paying bribes, has been jailed for 19 years for accepting bribes and embezzling more than 4.4 million yuan.

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