Finance News

Novartis Acquires Biotech Startup CoStim to Expand Oncology Portfolio

Novartis Acquires Biotech Startup CoStim to Expand Oncology Portfolio

Novartis AG (NVS), in an effort to expand its oncology portfolio, announced the acquisition of a biotech startup called CoStim Pharmaceuticals. CoStim, based in Cambridge, Massachusetts, was established in 2012 by MPM Capital and received investments from businesses such as Atlas Ventures. The acquisition was disclosed yesterday, with the value […]

Teva Pharmaceutical Industries Ltd Raises Stake In Mylan NV, Edges Toward Intended Ownership Target

Teva Pharmaceutical Industries Ltd Raises Stake In Mylan NV, Edges Toward Intended Ownership Target

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has raised its stake in Mylan NV (NASDAQ:MYL) to almost 2.2%, as per a regulatory filing on Friday. The move is increasingly being seen as an acquisition tactic employed by Teva on its months-old target. Teva extended a $40 billion unsolicited takeover offer to […]

Euro On A Low Note

Euro On A Low Note

2018 has been a disappointing year for the euro. After hovering around 1.4000 in May, the currency dipped more than 13.3% against the dollar, slipping to a two-year low. Earlier this week, European stocks reflected little of the impact of the long-awaited final round of Greek presidential voting by the […]

Wynn Resorts, Limited (WYNN) Stock Jumped 7% After News On A Merger With MGM Resorts Surfaced

Wynn Resorts, Limited (WYNN) Stock Jumped 7% After News On A Merger With MGM Resorts Surfaced

Wynn Resorts, Limited (NASDAQ:WYNN) stock surged more than 7% yesterday. This was after The Street’s Jim Cramer shared on CNBC that there was speculation about Wynn’s merger with its rival, MGM Resorts International (NYSE:MGM). Both casino operators have been under a financial distress due to tumbling operations in Macau, where […]

Alibaba Group Holding Ltd Appoints Eric Pelletier As Head Of International Government Affairs

Alibaba Group Holding Ltd Appoints Eric Pelletier As Head Of International Government Affairs

Based on recent developments crossing wires, Alibaba Group Holding Ltd. (NYSE:BABA) announced the decision to appoint Eric Pelletier as Vice President, Head of International Government Affairs in Washington on Friday. An inside source informed Bloomberg that Mr. Pelletier would consolidate a team aimed at building relationship with government officials in […]

Actavis Plc: Orexigen Therapeutics, Inc. And Takeda Pharmaceutical Filed Lawsuit To Block Generic Weight-Loss Pill

Actavis Plc: Orexigen Therapeutics, Inc. And Takeda Pharmaceutical Filed Lawsuit To Block Generic Weight-Loss Pill

Orexigen Therapeutics, Inc. (NASDAQ:OREX) and its partner Takeda Pharmaceutical Co Ltd (ADR) (OTCMKTS:TKPYY) have filed a lawsuit against Actavis Plc (NYSE:ACT) to block a generic version of a weight-loss pill sold in the market under the name Contrave, according to Reuters. The lawsuit against Actavis Laboratories FL Inc, Andrx Corp, […]

23andMe Could Be The Next Big Thing In Biopharma

23andMe Could Be The Next Big Thing In Biopharma

Mountain View, California-based startup 23andMe is partnering up with drug giant Pfizer Inc. (PFE) to undertake a study to explore the possible genetic underpinnings of inflammatory bowel diseases (IBDs). 23andMe is a privately held genomics and biotechnology company, and is currently working on a number of research projects on genetic […]

Boeing Co (BA) Bullish On Air Traffic, New Orders’ Annual Forecast

Boeing Co (BA) Bullish On Air Traffic, New Orders’ Annual Forecast

Boeing Co (NYSE:BA) remains bullish on the airline passenger traffic and commercial aircraft sales. According to Reuters, the company’s airline passenger traffic is expected to increase by 6% by the end of 2019. Boeing said that the increased passenger traffic will ultimately lead to aircraft’s increased demand during the year, […]