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US appeals court upholds delay in Alzheimer's drug swap

ALBANY, N.Y.- A federal appeals court has rejected a drug manufacturer's appeal and affirmed a judge's order that Actavis PLC keep distributing its widely used Alzheimer's medication until after its patent expires this summer. He alleged anti-trust and state law violations by Actavis in an effort to push patients to its new patented drug and avoid losses from...
Source: The Associated Press
UPDATE 1-Actavis cannot drop old version of Alzheimer's drug -appeals court

NEW YORK, May 22- Actavis Plc cannot pull its top-selling Alzheimer's drug from the market in favor of a pricier extended-release version, a federal appeals court in New York ruled on Friday. The decision at the 2nd U.S. Circuit Court of Appeals is a win for New York State Attorney General Eric Schneiderman, who sued to block the switch, arguing that Actavis was...
Source: Reuters | By: Joseph Ax and Brendan Pierson
Actavis cannot drop old version of Alzheimer's drug - appeals court

NEW YORK, May 22- Actavis Plc cannot pull its top-selling Alzheimer's drug from the market in favor of a pricier extended-release version, a federal appeals court ruled on Friday. A three-judge panel at the 2nd U.S. Circuit Court of Appeals in New York upheld an order by U.S. District Robert Sweet in December requiring Actavis to keep the older drug, Namenda IR, on the...
Source: Reuters
Actavis says Warner Chilcott unit held talks to settle U.S. probe

May 14- Drug maker Actavis Plc said its Warner Chilcott unit held talks with U.S. government officials to discuss a potential resolution of an investigation into the unit's sales activities, according to a regulatory filing. Warner Chilcott said the company and several of its employees in the sales organization received subpoenas in 2012 from the United...
Source: Reuters
UPDATE 2-Actavis expects Allergan business to drive 2015 growth

*Actavis initial forecast historically conservative- analysts. Sales of Allergan products for 15 days and the drugs acquired with the Forest Laboratories deal helped Actavis beat revenue estimate in the quarter ended March 31. Actavis, whose shares were up 3 percent, outbid Canadian drugmaker Valeant Pharmaceuticals International Inc and activist...
Source: Reuters | By: Vidya L Nathan
US STOCKS-Wall St mixed at open; energy shares fall

*Rosetta soars as Noble Energy offers to buy company for $2 bln. *Zulily rises after Alibaba increases stake. Exxon Mobil shares fell 1.1 percent to $87.28.
Source: Reuters | By: Tanya Agrawal
US STOCKS-Futures little changed after soaring last week on strong jobs data

*Rosetta soars as Noble Energy offers to buy company for $2 bln. *Zulily rises after Alibaba increases stake. "There will be some carry-over from the positive jobs report but not at the same magnitude," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
Source: Reuters | By: Tanya Agrawal
UPDATE 1-Actavis adj profit beats estimates after Allergan acquisition

May 11- Drugmaker Actavis Plc, which completed its $66 billion acquisition of Botox maker Allergan in March, reported a better-than-expected quarterly profit, helped by higher sales of its branded drugs in North America. Actavis forecast 2015 revenue of $20.5 billion to $21 billion on Monday. Actavis said first-quarter results included business from...
Source: Reuters
Asia, brace for a busy week ahead

Fresh easing measures from China over the weekend, alongside a barrage of economic data and policy releases, will likely keep Asian financial markets on a bumpy ride this week.
Source: CNBC.com | By: See Kit Tang
UPDATE 1-Four drugmakers escape Chicago painkiller marketing lawsuit

May 8- A U.S. judge on Friday dismissed a lawsuit filed by the city of Chicago in federal court against four drugmakers accused of promoting painkiller addiction through deceptive marketing, though the case will continue against Oxycontin maker Purdue Pharma LP. The companies dismissed from the lawsuit are Teva Pharmaceutical Industries Ltd, Johnson&...
Source: Reuters | By: Brendan Pierson