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Elan rejected Royalty Pharma's increased $6.4 billion bid on Thursday, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share.Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting at a meeting due to be held on June 17 the series of defensive transactions recently announced by the Irish drug firm.Royalty, which had said on Monday it reserved the right to reduce the acceptance threshold from 90 percent, has described Elan's efforts to reinvent itself through a series of acquisitions and debt deals as hasty and ill-conceived.Elan fought back after its board met to discuss the revised bid on Thursday and said the offer continued to grossly undervalue the company and its future prospects, and urged shareholders to take no action."This offer is no more than an opportunistic attempt to acquire our company at a substantial discount at our shareho...
European stock markets retreated from a 2013 high on Monday after a mixed bag of Chinese data highlighted growth concerns in the world's second largest economy.A sur...
European companies lost 350 billion euros ($450 billion) last year due to late or unpaid bills, underlining fears that small businesses expected to drive economic re...
Irish drugmaker Elan Corporation has agreed a $1 billion royalties deal that could soothe concerns about its potentially risky acquisition strategy and fend off a ta...
Elan Corp. (ELN) Monday said it had reached a $1 billion deal with Theravance Inc. (THRX) for a share in the royalty stream of four respiratory drug programs, as the...
Elan Corporation PLC (ELN) said Monday it and Theravance Inc. (THRX) have entered into a royalty participation agreement wherein Elan will buy a 21% interest in pote...
The U.S. Food and Drug Administration Friday approved a new drug that will be marketed by GlaxoSmithKline PLC (GSK, GSK.LN) to treat chronic obstructive pulmonary di...
FBN's Jo Ling Kent breaks down mid-afternoon market news.
GlaxoSmithKline PLC (GSK.LN) and Theravance, Inc. (THRX) Friday said the U.S. Food and Drug Administration, or FDA, approved Breo Ellipta as an inhaled treatment of ...
The U.S. Food and Drug Administration Friday approved a new drug that will be marketed by GlaxoSmithKline PLC (GSK, GSK.LN) to treat chronic obstructive pulmonary di...
Companies serving Indian consumers are attracting billions of dollars in foreign investment even as deals in other parts of the country's economy have nearly stalled...
Research-based pharmaceutical and healthcare company GlaxoSmithKline PLC (GSK.LN) said Wednesday the U.S. Prescription Drug User Fee Act, or PDUFA, goal date for tra...
Pharmaceutical company GlaxoSmithKline PLC (GSK.LN) Tuesday announced the submission of a regulatory application in the U.S. for the investigational once-daily medic...
Kathrin Jansen is a microbiologist with at least two breakthrough vaccines to her name: she brought the cervical cancer vaccine Gardasil to market for Merck and help...
Concerned about the need to fight antibiotic resistance and possible bioterrorist attacks, the U.S. government will give drug maker GlaxoSmithKline PLC (GSK, GSK.LN)...
Drug group GlaxoSmithKline PLC (GSK.LN) said Wednesday that it has been awarded up to $200 million by the U.S. government to develop new antibiotics.MAIN FACTS:-Glax...
GlaxoSmithKline PLC (GSK) said it would close an Australian tablet-packaging facility and lay off 120 workers, joining a string of manufacturers that have shut facto...
GlaxoSmithKline PLC (GSK) said Wednesday it was closing an Australian tablet-packaging plant, leading to 120 job losses.The plant in Melbourne makes packaging for re...
C.R. Bard Inc. (BCR) has agreed to pay around $48.3 million to resolve whistleblower allegations that it gave kickbacks to doctors and other customers to buy the com...
U.K. stocks managed to eke out an eighth straight day of gains on Monday, as Royal Dutch Shell PLC rose after announcing a share buyback and GlaxoSmithKline PLC clim...
