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Business 07 Jun 2019 | 12:00 AM

Insys agrees to pay US$225mil to settle US opioid-sales probes

NEW YORK: Insys Therapeutics Inc, grappling with the prospect of bankruptcy after its founder was convicted on racketeering charges, agreed to pay US$225mil to settle US claims that the drug maker illegally sold opioid-based painkillers.

Corporate News 06 Sep 2018 | 10:28 PM

Tesla, Musk sought to 'burn' Citron, other short-sellers: lawsuit

NEW YORK: The prominent short-seller Andrew Left has sued Tesla Inc and its Chief Executive Elon Musk, saying Musk fraudulently engineered his since-abandoned plan to take Tesla private to "burn" investors hoping the electric car company's stock price would fall.

Corporate News 23 Apr 2018 | 11:03 PM

High-profile investors bet on stocks tied to millennials

NEW YORK: Hedge fund managers at the high-profile 2018 Sohn Investment Conference in New York pitched stock ideas on Monday that they said should benefit from the growing clout of the millennial generation, ranging from online food ordering to homebuilders.

Business 26 Mar 2018 | 12:00 AM

Globalists buck US fund trend

NEW YORK: Volatility in US equity markets this year is pushing investors not only to invest in stocks abroad, but also to commit their money to an even more foreign place: the hands of stockpickers rather than index funds.

Corporate News 26 Jun 2017 | 12:36 PM

'Pharma bro' Martin Shkreli heads into fraud trial

NEW YORK: Martin Shkreli, the pharmaceutical entrepreneur vilified as the "pharma bro" for raising the price of a life-saving drug by 5,000 percent, will go on trial on Monday for what U.S. prosecutors called a Ponzi-like scheme at his former hedge fund and a drug company he once ran.

Corporate News 14 Mar 2017 | 11:03 PM

Ackman's Pershing Square sells Valeant stake, takes US$3bil loss

BOSTON: Billionaire investor William Ackman walked away from Valeant Pharmaceuticals International Inc on Monday with a loss of more than $3 billion as he sold his entire stake in the struggling drug company after trying to rescue it for some 18 months

Corporate News 06 Dec 2016 | 6:13 AM

Trump's corporate tax holiday could spur pharma M&A

NEW YORK: US President-elect Donald Trump's plan to incentivise US companies to repatriate their swelling overseas cash piles could spur a new wave of dealmaking in a pharmaceutical industry seeking to buy its way into growth.

Corporate News 22 Aug 2016 | 7:40 PM

Pfizer boosts cancer drug roster with US$14bil Medivation deal

NEW YORK: Pfizer Inc, beating out numerous other bidders, said it would buy US cancer drug company Medivation Inc for US$14bil (RM56.3bil) in cash, adding its blockbuster prostate cancer drug Xtandi to the company’s growing oncology roster.

Corporate News 22 Aug 2016 | 5:23 AM

Pfizer nears deal to acquire Medivation for close to US$14b

New York: Pfizer Inc is in advanced talks to acquire US cancer drug company Medivation Inc for close to US$14 billion, as it seeks to boost its oncology portfolio, people familiar with the matter said on Sunday.

Business 22 Aug 2016 | 1:24 AM

Breakfast briefing: Monday, August 22

Breakfast briefing: Monday, August 22