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Mylan shareholders approve pursuit of Perrigo

NEW YORK (AP) - 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 a statement, Perrigo said it is confident that its shareholders will reject Mylan's offer. A combination of the two companies would ...
Source: The Associated Press
Data dump shapes up busy week ahead for Asia

A slew of disappointing second-quarter growth reports are on the cards Asia in the week ahead, starting off with Singapore on Tuesday and followed by Malaysia on Thursday and Hong Kong on Friday. According to eleven economists surveyed by Reuters, Singapore's final gross domestic product (GDP) is expected to contract 4.6 percent on-quarter in the April-June period, in line with the ...
Source: CNBC.com | By: See Kit Tang
US STOCKS-Media stock selloff leaves Wall Street bruised

* Disney, Viacom lead media selloff * S&P media index records worst two-day tumble since 2008 * Tesla, Green Mountain fall after results * Zynga falls after the bell following quarterly report * Indexes finish down: Dow 0.69 pct, S&P 0.78 pct, Nasdaq 1.62 pct (Updates to close, adds detail on Zynga) Aug 6 (Reuters) - Wall Street ended sharply lower on Thursday as weak earnings reports from ...
Source: Reuters | By: Noel Randewich
Allergan gets DoJ subpoena over generic drug pricing

Aug 6 (Reuters) - 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 department has previously issued subpoenas to generic drugmakers, including Impax Laboratories Inc and Lannett Co Inc, as part of investigations into rising prices for generic drugs. (http://1.usa.gov/1IQILbO) ...
Source: Reuters
UPDATE 2-Mylan CEO says still wants Perrigo but has other options

(Adds CEO interview, updates shares) NEW YORK, Aug 6 (Reuters) - 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 ...
Source: Reuters | By: Bill Berkrot
UPDATE 2-Allergan reports better-than-expected revenue

* Reports first full quarter post Actavis-Allergan deal * Botox, Restasis boost branded products sales five-fold * Quarterly earnings beat estimates (Adds details, background) Aug 6 (Reuters) - 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 ...
Source: Reuters
UPDATE 1-Allergan revenue more than doubles on Botox, eye drop sales

(Adds details, background, shares) Aug 6 (Reuters) - Botox-maker Allergan Plc posted a better-than-expected quarterly adjusted profit as sales of branded drugs rose, helped by acquisition of new products. Branded drug sales jumped five-fold to $3.71 billion in the second quarter ended June 30, mainly driven by strong demand for skin treatment Botox, eye drops Restasis and the company's ...
Source: Reuters
Drugmaker Allergan's revenue more than doubles

Aug 6 (Reuters) - 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. Allergan's revenue rose to ...
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