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Pfizer boosts cancer drug roster with $14 billion Medivation deal

Medivation shares were up 20 percent at $80.43 in afternoon trading, just shy of the offer price of $81.50 per share. Shares of Pfizer, the largest U.S. drugmaker, were down 0.5 percent at $34.82. The offer is a 55-percent premium to Sanofi SA's initial offer to buy Medivation for $52.50 in April that pushed the San Francisco-based company to put itself up for sale.

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Pfizer boosts cancer drug roster with $14 billion Medivation deal

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Japan eyes help for small business in stimulus plan after Brexit

Japan is likely to include assistance for small businesses in an economic stimulus package it will compile after Britain's shock vote to leave the European Union, Economy Minister Nobuteru Ishihara said on Tuesday. Japanese policymakers also said financial markets are starting to calm down after the Brexit vote last week, but repeated that they want…

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Japan eyes help for small business in stimulus plan after Brexit

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Pfizer to invest $350 million in China biotech hub, first in Asia

Pfizer Inc will invest $350 million to build a biotech center in China, the latest in a series of moves by pharma industry giants to set up shop in the world's no. 2 drugs market with the aim of securing faster approvals for their products. The facility in eastern Hangzhou region – Pfizer's first biotech center in Asia – is expected to be completed by 2018, the firm said in a statement on Tuesday. Global “Big Pharma” is increasingly looking for smart ways to tap China's healthcare market…

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Pfizer to invest $350 million in China biotech hub, first in Asia

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New York Times revenue falls on lower ad sales

(Reuters) – New York Times Co reported a 1.2 percent fall in quarterly revenue as ad sales fell in its print and digital businesses. Digital ad revenue, which contributes about a third of total ad revenue, fell 1.3 percent to $41.8 million, while print advertising revenue fell 9 percent, the company said on Tuesday.

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New York Times revenue falls on lower ad sales

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Fed’s Lockhart: Two rate hikes this year ‘certainly possible’, flags Brexit risk

The United States could see two further interest rate rises this year but uncertainties abound including the impact on the U.S. economy should Britain vote to leave the European Union, Atlanta Fed President Dennis Lockhart said on Tuesday. On that front, Lockhart said that incoming data between now and the Fed's next meeting on June 14-15 “is not comprehensive by any stretch of the imagination” and that the upcoming Brexit vote in Britain raised risks. “It is…

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Fed’s Lockhart: Two rate hikes this year ‘certainly possible’, flags Brexit risk

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Global factory growth nearly stalled in April: PMI

LONDON (Reuters) – Global manufacturing growth almost stalled last month as rising price halted a pick-up in new orders, a survey showed on Tuesday.

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Global factory growth nearly stalled in April: PMI

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New drugs fuel strong Pfizer results; company raises 2016 forecasts

Pfizer said sales would be hurt in the fourth quarter of 2016, however, when those added days will be offset by fewer days. Pfizer walked away from the deal after the U.S. Treasury issued new rules curbing tax inversion deals, under which American companies move overseas to cut taxes. Many analysts believe Pfizer needs to buy new medicines or entire biotech companies to ensure competitive earnings growth.

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New drugs fuel strong Pfizer results; company raises 2016 forecasts

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Pfizer hikes U.S. prices for over 100 drugs on January 1

Pfizer Inc , which plans a $160-billion merger with Ireland-based Allergan Plc to slash its U.S. tax bill, on Jan. 1 raised U.S. prices for more than 100 of its drugs, some by as much as 20 percent,

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Pfizer hikes U.S. prices for over 100 drugs on January 1

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Wall St. opens flat, set to end the month higher

The three major indexes were set to end the month higher for the second straight month. While the U.S. central bank is likely to raise interest rates for the first time since June 2006, the European Central Bank is expected to unveil fresh monetary easing measures on Thursday. “We're coming off a quiet holiday week and we have a lot of hurdles to cross this week with all the data that we're expecting,” said Scott Brown,

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Wall St. opens flat, set to end the month higher

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Two-decade Pfizer mission pays off for Guggenheim’s deal king

LONDON/NEW YORK (Reuters) – Alan Schwartz knows how to play a long game. The executive chairman of boutique investment bank Guggenheim Partners spent almost 20 years cultivating Pfizer boss Ian Read as a client. Schwartz, 65, had been working with Read since 2013 to find a European-registered company with which U.S. firm Pfizer could combine and shift its headquarters to a country with a lower tax rate, so

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Two-decade Pfizer mission pays off for Guggenheim’s deal king

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