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Mylan shareholders approve pursuit of Perrigo

NEW YORK- Mylan NV's shareholders approved the company's hostile pursuit of Perrigo Co. and the generic drugmaker hopes to push ahead with a formal offer soon. Perrigo, which makes over-the-counter medicines, has resisted repeated overtures from Mylan. In April, Mylan raised its offer for Perrigo to $232.23, or about $34.1 billion, in cash and stock.
Source: The Associated Press
Data dump shapes up busy week ahead for Asia

Asian markets have plenty to chew over in the week ahead, including second-quarter growth reports for Singapore, Malaysia and Hong Kong.
Source: CNBC.com | By: See Kit Tang
US STOCKS-Media stock selloff leaves Wall Street bruised

*Disney, Viacom lead media selloff. Viacom fell 14.22 percent to its lowest in almost four years after reporting lower-than-expected quarterly revenue due to weakness in its cable TV business. The S&P 500 media index lost 2.12 percent and notched its biggest two-day fall since November 2008, with Time Warner, Comcast and CBS all in the red and Twenty-First...
Source: Reuters | By: Noel Randewich
Allergan gets DoJ subpoena over generic drug pricing

Aug 6- Allergan Plc said on Thursday it received a subpoena from the U.S. Department of Justice seeking information on marketing and pricing of its generic drugs. The subpoena, which the company received in June, also seeks information about communications with competitors regarding the generic products, Allergan said in a regulatory filing.
Source: Reuters
UPDATE 2-Mylan CEO says still wants Perrigo but has other options

NEW YORK, Aug 6- Generic drugmaker Mylan Inc's chief executive said on Thursday that acquiring Perrigo Co was not a must and that it has other options should Perrigo successfully fend off Mylan's $34 billion hostile offer. However, Mylan CEO Heather Bresch said in an interview that getting the Perrigo deal done remains a top priority and that she still believes...
Source: Reuters | By: Bill Berkrot
UPDATE 2-Allergan reports better-than-expected revenue

Aug 6- Irish drugmaker Allergan Plc reported better-than-expected revenue for the first full quarter since the merger of Actavis and Allergan. Allergan, which changed its name from Actavis after the deal closed, said adding signature drugs like Botox and eye drops Restasis boosted branded products sales five-fold to $3.71 billion in the second quarter...
Source: Reuters
UPDATE 1-Allergan revenue more than doubles on Botox, eye drop sales

Aug 6- Botox-maker Allergan Plc posted a better-than-expected quarterly adjusted profit as sales of branded drugs rose, helped by acquisition of new products. Allergan did not provide an update to its sales forecast for the full year. Dublin, Ireland- based Allergan's net revenue for the quarter more than doubled to $5.76 billion.
Source: Reuters
Drugmaker Allergan's revenue more than doubles

Aug 6- Botox-maker Allergan Plc's quarterly revenue more than doubled, helped by higher sales of its branded drugs in North America. The company reported a net loss attributable to shareholders of $243.1 million, or 80 cents per share, in the second quarter ended June 30, compared with a net profit of $48.7 million, or 28 cents per share, a year earlier.
Source: Reuters
UPDATE 1-Akorn Inc's Hi-Tech Pharmacal infringes Allergan glaucoma drug patents

The U.S. Court of Appeals for the Federal Circuit also said five of Allergan's Lumigan patents were valid. The case stems from lawsuits Allergan filed in 2011 against Akorn's Hi-Tech Pharmacal Co Inc, Novartis AG, and Lupin Ltd over proposed generic versions of Lumigan, which has more than $600 million in annual sales. The Allergan patents cover an improved...
Source: Reuters | By: Andrew Chung
EXCLUSIVE-Hedge fund mogul Paulson: Gold is now 'fairly valued'

Paulson, in his first public comments since the recent price crash, said his firm, Paulson& Co. Inc., has retained a 10 million share stake, now worth about $1 billion, in SPDR Gold Trust, which tracks the price of gold. While Paulson's hedge fund was the single largest investor in the SPDR Gold Trust at the end of the first quarter, the position, now worth about $1.05...
Source: Reuters | By: Svea Herbst-Bayliss