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Eli Lilly Alzheimer’s Drug Does Not Pass the Test

A large clinical trial for a drug that treats dementia that is caused by Alzheimer’s ended for Eli Lilly in failure after the people receiving the drug did not show significant improvements compared to those who took a placebo. The failure of this drug, which showed great promise in results from earlier studies, is looked at as a big setback, but not an end of the hopes for fighting the disabling disease. U.S. pharmaceutical giant Eli Lilly said on Wednesday that its Phase 3 trial of solzanezumab had not progressed as was planned. The company... 
 

CVS Says Prescriptions Shifting, Shares Plummet on Warning

The largest drugstore chain in the U.S. warned it could lose over 40 million prescriptions in 2017 as deals have been signed by Walgreens Boot Alliance with other participants that have shut CVS pharmacies out of the drug supply chain. CVS, which pioneered a new business model putting insurance and close to 9,700 pharmacies under one roof, lowered its outlook for profit for the remainder of 2016 and all of 2017. CVS shares plunged 13% in early trading on Tuesday. CEO Larry Merlo announced that two partnerships recently signed by Walgreens with health... 
 

Pfizer Misses Forecasts Net Income Plummets

U.S. based pharmaceutical giant Pfizer saw its profit for the third quarter plummet over 38% as bigger spending and large charges related to its acquisitions were able to more than offset its higher sales. The U.S. drug maker’s mediocre quarterly results missed expectations on Wall Street and it lowered its profit forecast on the top end for 2016. Pfizer also said it would scrap the developing of an experimental drug for cholesterol that has been highly touted. Following the announcement by Pfizer on September 26 that it would split into two separate... 
 

Merck Posts Rise in Both Revenue and Profit

Merck & Co posted an increase in both its revenue as well as profit as its closely watched treatment for cancer and its vaccines boosted its results. Shares were up 2.5% during trading before the bell as the company’s results beat expectations on Wall Street. Pharmaceutical revenue during the third quarter was up 5.8% ending at $9.44 billion, boosted from growth in its cardiovascular drugs, oncology, vaccines and acute care in hospitals. Keytruda a drug for cancer posted $356 million in sales during the just ended quarter, in comparison to... 
 

Roche Sees Sales Increase Thanks to Cancer Treatments

Roche Holding AG announced that sales increased during its third quarter due to strong growth in several of its immunotherapy and cancer drugs. The healthcare behemoth based in Basel, Switzerland announced revenue had grown by 4.5% for the three-month period ending September 30 to just over 12.48 billion Swiss francs or $12.6 billion. That figure was just less than forecasts by analysts of 12.54 billion francs. Taking into consideration fluctuations in currency, sales were up 3%. Roche does not post figures for profit during its quarterly reporting... 
 

Johnson & Johnson Helped Again by Its Pharmaceuticals

The pharmaceutical business of Johnson & Johnson was able to help the company lift its low end of guidance and post results that were better than had been anticipated for the most recent quarter, as it continues to help the company’s top line. J&J, based in New Brunswick, New Jersey, now is expecting its earnings per share to be between $6.68 and $6.73 for the year in comparison to its previous annual guidance of $6.63 for the bottom. It confirmed its forecast for revenue of between $71.5 billion and $72.2 billion. CEO Alex Gorsky announced... 
 

Johnson & Johnson Drug Tops Humira in Psoriasis Study

The experimental drug from Johnson & Johnson for psoriasis met its major goals as well as beat a rival in a final stage study related to psoriasis. That has positioned J&J to grow its line-up of immune-disease medications. The drug, known as guselkumab, was able to clear or almost clear skin of just over 81% of the patients treated after a period of 48 weeks, said the company on Saturday during its research findings summary. That was in comparison to a rate of 55% amongst those who used Humira, from AbbVie, said officials from J&J. Stelara,... 
 

FDA Approves New Insulin Pump

The U.S. Food and Drug Administration has approved the sale of a device that is a substantial advance toward an artificial pancreas for patients with Type 1 diabetes. This insulin pump, which has been long awaited, has the goal of taking some guesswork out of controlling the blood-sugar level. The product designed by Medtronic PLC and known as MiniMed 670G is a combination of two devices that are attached to the body of a person. A pump delivers the insulin through a tube that is inserted beneath the skin, and the device’s sensor monitors the... 
 

New CEO at GlaxoSmithKline Joins Small Group of Women

The recent appointment by GlaxoSmithKline of Emma Walmsley as CEO put her on a short list to become the highest profile female in corporate Britain. Walmsley, who is 47, will take the post of CEO in 2017 when Andrew Witty the current CEO will step down March 31. With her move up the corporate ladder the FTSE 100, which is a list of the biggest blue chip companies in Britain by market capitalization, will have seven female CEOs. The current female CEOs run EasyJet, Imperial Brands, Whitbread, Royal Mail, Kingfisher and Severn Trent. However, GSK... 
 

Johnson & Johnson Acquires Eye Surgery Unit from Abbott

Johnson & Johnson have agreed to purchase the eye-surgery equipment business of Abbott Laboratories for the price of $4.33 billion, which moves the giant in healthcare towards its set goal of increasing all three of its core businesses. This deal should close during the first three months of 2017 said each company in separate released statements late last week. The unit, known as Abbott Medical Optics, is the maker of equipment used during surgeries for cataracts and in the Lasik procedures that improve vision, along with eye drops and other... 
 

Senators Urge EpiPen Scrutiny Over Increase in Price

Two United States Senators have raised concerns about huge increases of price on a drug that is used for emergency conditions when there is a food allergy reaction. Senator Chuck Grassley of Iowa wrote to Mylan the maker of the drug asking them for reasons why the price has been increasing for their EpiPen. The epinephrine auto-injector treats allergy reactions and its price has increased from $57 during 2007 to close to $500 at present. Senator Amy Klobuchar of Minnesota has requested that the Federal Trade Commission look into the price increase. Grassley... 
 

Valeant Pharmaceuticals Posts Earnings That Miss

Valeant Pharmaceuticals posted revenue and earnings for the quarter that came up short of expectations on Wall Street on Tuesday, but kept its forecast for the full year as it attempts to restore confidence in its investors after its business practices were highly criticized. Valeant shares jumped over 6% in trading before the bell following the posting of its earnings. The drug maker, based in Canada, over the last year has faced great investor and political scrutiny for the steep increases in its drug prices and the unorthodox method it used a... 
 

Bristol Myers Says Opdivo Did Not Meet Endpoint in Study

The surprise failure of a cancer drug in a clinical trial slashed over $20 billion off the market value of Bristol-Myers Squibb on Friday, and increased the questions about one of the hottest research areas of the industry; drugs that are able to harness the immune system of the body to fight against cancer. Bristol-Myers announced that the drug, known as Opdivo, was not significantly better than was chemotherapy in the study of patients that had been newly diagnosed with lung cancer. The result, which was highly unexpected, sent shares of the drug... 
 

Pfizer’s New Products Help Profit for First Quarter

Newer drugs such as Ibrance for breast cancer and Lyrica for nerve pain sold well during the quarter helping U.S. based Pfizer. The pharmaceutical giant reported results that were better than had been expected for the second quarter as new products showed growth in revenue. Pfizer and Allergan back in April terminated a planned merger of $150 billion after the White House administration pressured the U.S. based company into backing out of the deal since it would have moved from the U.S. to Ireland as a way to lower taxes. Pfizer shares were down... 
 

AbbVie Increases Forecast on Profit Due to Strong Sales of Humira

AbbVie posted quarterly revenue and profit that was higher than had been expected driven by the demand for Humira its flagship drug, and increased its forecast for earnings for the full year. Humira, the biggest selling drug in the world, generated sales of over $14 billion in 2015 and represented 64% of the net revenue of AbbVie during the quarter. The medication, used as treatment of Crohn’s disease and forms of arthritis amongst other types of conditions, had sales of more than $4.15 billion for the quarter, topping estimates of analysts for... 
 

Roche Tops Forecasts for the Quarter

Roche based in Switzerland, beat expectations of the market for its net income during the first half of the year with help from sales of a cancer drug along with a big one-off gain in its pension plan. Core earnings a share, adjusted for special items, rose by 7% to over 7.74 Swiss francs or $7.86, while analysts were expecting an average of 7.53 francs. The company made an accounting adjustment that was one-off to its long-term pension plan, which helped to increase earnings by over 426 million francs. However, that will be offset in time as it... 
 

Novartis Releases Profit Warning

Swiss pharmaceutical giant Novartis AG lowered its guidance for profit for the full year as it increases its investment in its new drug for heart failure to offset dropping sales of Gleevec its blockbuster cancer drug. Joe Jimenez the CEO at Novartis said a hard decision was made to increase the investment by another $200 million in Entresto, a move that could cost Novartis up to 2% of its core income. The decision to do this is the right one, said Jimenez, as there are two large catalysts for the company for the next couple of years where growth... 
 

Rite Aid Posts Sales and Profit That Miss

Drugstore chain Rite Aid said reductions in drug costs would be short of their expectations in the short term. Rite Aid Corp, posted sales and earnings that disappointed for its just ended first quarter amidst pressure from pharmacy reimbursement rates. This week the company said it was not able to offset the pressure due in large part to efficiencies in drug purchasing that did not reach expectations, John Standley the CEO said. Standley added that the drug cost reductions would continue to remain short of expectations of the company during the... 
 

Valeant Pharmaceuticals Sales Plunge for Key Drugs, Cuts Forecast

Canada based Valeant Pharmaceuticals International has a problem with its underlying business not its critics or leadership. Shares of the pharmaceutical company plunged during early Tuesday trading as its new CEO Joseph Papa cut the forecast for earnings, marking a huge reset point as the one time highflying pharma attempts to find its mojo. Earnings for the first quarter, the final set of complete results under Michael Pearson the former CEO, gave investors a first detailed look of the struggles of the drug maker to sell products during the most... 
 

Jazz Pharmaceuticals to Acquire Celator for $1.5 Billion

Jazz Pharmaceuticals has agreed to purchase Celator Pharmaceuticals in a deal that is worth approximately $1.5 billion, which represents a large premium for a business that has a promising drug for leukemia but still no revenue. Jazz confirmed news released prior about the acquisition by saying it paid $30.25 per share in cash to buy Celator, a premium of 72% to the closing price the previous day of $17.52. This is a huge price, even for biotechnology, where those who acquire companies often pay top money for new treatments that have promising potential. Celator,... 
 

CVS Health Increase Access to Overdose Treatment

On Wednesday, CVS Health Corp the chain of drugstores said it would be expanding the access to the drug naloxone, which is an opioid overdose reversal treatment, to seven more states during the summer. The program of the company to combat the epidemic of opioid overdosing will then operate in 30 states before August and make the drug, which is life-saving, accessible to those patients who do not have individual prescriptions. CVS Health said that its program involving naloxone establishes an order that is standing with one physician in the state... 
 

Scientists Find Warfarin Use Associated with Higher Dementia Risk

The most recent data indicates that atrial fibrillation (A-Fib or AF) is the most common form of heart arrhythmia. A heart arrhythmia is the term given to an anomaly in which the heart beats to slowly or too fast or in an otherwise irregular way (as described by the United States Centers for Disease Control and Prevention). While atrial fibrillation, on its own, is not necessarily cause for any concern—as it is not immediately life-threatening—it can lead to other problems which can complicate your health. Most commonly, A-Fib can lead to blood... 
 

Merck Sees Drop in Revenue on Competition From Generics

Merck & Co announced a drop in revenue as competition from generic drugs and fluctuations in currency hurt the company’s results. Nasonex an allergy drug had 21% less sales, as a generic version was available during the quarter in the United States. Merck announced that it was expecting its per share adjusted earnings for 2016 to be from $3.65 to $3.77, compared with a projection previously of between $3.60 and $3.75. It is expecting revenue of $39 billion to $40.2 billion, increasing the lower end of a previous guidance by over $300 million. Analysts... 
 

St. Jude Medical to be Acquired by Abbott Laboratories for $25 Billion

Abbott Laboratories the healthcare giant has entered into a deal to purchase St. Jude Medical the maker of medical devices in a cash and stock transaction that has been estimated at $25 billion. On Thursday, the two companies revealed that they agreed to this merger that would create a giant in the global medical devices field with specialties in diabetes, vision and cardiovascular, Miles White the CEO at Abbott said that bringing the two companies together would create a premier maker of medical devices and immediately advance the strategic as... 
 

FDA Forces Panel to Vote on Muscle Drug Sarepta

Sarepta Therapeutics’ drug to treat a muscle wasting disease was given a new lifeline on Friday after the U.S. Food and Drug Administration forced a panel of independent experts to make a definite recommendation on if the drug should be or should not be approved. On Thursday, the reviewers from the FDA issued a critical review on the drug and asked the panelists only for any feedback on the trial data of Sarepta, asking for their recommendations through voting. However, on Friday, the same staffers from the FDA asked that the group of independent... 
 

Novartis Overcomes Heart Drug and Eye Care Problem with Older Drugs

On Thursday, Novartis was able to beat forecasts for profit thanks to strong performances from older medicines, making up for its eye care business that continues to struggle and the extra costs due to a poor start for its new drug for heart failure. Although the largest prescription drug maker in the world saw first quarter net income drop by 13% to just over $2.79 billion, it beat the estimates of $2.76 billion of analysts and helped lift shares of the company in trading. Novartis had to hire additional sales personnel to overcome the slow start... 
 

New Inversion Rules in U.S. Could Threaten Deal with Pfizer and Allergan

The Treasury Department in the U.S. took additional steps Monday to curb the corporate inversion set up to avoid taxes, with a possibly casualty being the pending merger between Allergan and Pfizer. These changes, which are less than one year prior to President Barack Obama leaving office, follow the sharp criticism of the merger of the two, by politicians. The merger between Pfizer and Allergan would be the biggest ever inversion deal. While these rules did not single out the deal, one of its provisions takes direct aim at it. Shares of Allergan,... 
 

Decline in Number of Settlements with Big Pharmaceuticals in U.S.

The amount of big money from U.S. pharmaceuticals coming from settlements for violating healthcare laws has dropped sharply in the past few years. This has prompted a watchdog, non-profit group to call for enforcement efforts to increase. In a recent analysis that 25 years of pharmaceutical court judgments and settlements are chronicled, the group called Public Citizen, found that only $2.4 billion in financial penalties were recovered by federal authorities between 2014 and 2015, a figure which is less than a third of the more than $8.7 billion... 
 

Study Finds Results that are Irregular in Theranos Medical Tests

Blood tests using the finger performed by Theranos, the startup in the medical industry, produced more results that were irregular than the conventional tests that are offered by the two biggest clinical labs in the nation, said researchers in an independent assessment of the test completed by the company. Theranos also had no answer for as many as 2.2% of the requested measurements something that almost never happened with the other two labs LabCorp and Quest Diagnostics. The findings are not completely negative, as for the most part Theranos’... 
 

UK’s NICE Changes Mind, Recommends Prostate Drug Zytiga

The National Institute for Health and Care Excellence or NICE issued its final guidance that recommended Zytiga made by Janssen for the treatment of advanced prostate cancer prior to chemotherapy. The decision by NICE, follows the submission by Janssen of new evidence on the benefits of the drug. This past December, Zytiga was turned down by the agency for patients who have not yet been given a chemotherapy schedule, after data initially submitted by the pharmaceutical company did not demonstrate a quality of life or long-term survival. Janssen... 
 

Cannabis Drug Treats Epilepsy Successfully

An experimental drug that is cannabis based has treated successfully children that have a rare type of severe epilepsy in a clinical trial that was highly anticipated. The news helped to double the value of GW Pharmaceuticals the maker of the drug. The study of Epidiolex by GW for Dravet syndrome is the first of a four Phase III final stage epilepsy trials with the results expected during 2016, in which the drug maker is hoping will confirm therapeutic benefits of the active ingredient in marijuana known as cannabinoids. On Monday, GW said the trial... 
 

GlaxoSmithKline Ends One Relationship with Five Prime

GlaxoSmithKline the pharmaceutical giant based in the UK has cut its ties with Five Prime Therapeutics in cancer therapy development backing out during an ongoing mesothelioma trial. GSK handed a 180-day notice to Five Prime that it was ending its license to FP-1030, which was designed to block cancer from spreading by interrupting the protein signaling. This decision follows the January move by GSK to stop the developing of FP-1039 in non-small cell squamous lung cancer because of the increase of immune-oncology treatments from Bristol-Myers, Merck... 
 

Victoza Lowers Number of Cardiovascular Adverse Events

Novo Nordisk announced on Friday that people who have type 2 diabetes and take Victoza are less prone to have a major cardiovascular adverse event, according to a large study that looked at data from over 9,000 people over a period of 5 years. People that have type 2 diabetes usually are more exposed to experiencing major cardiovascular adverse events, said Novo Nordisk’s Mads Krogsgaard Thomsen the chief science officer and EVP in a statement released on Friday. However, results appear to indicate that taking Victoza can help people with diabetes... 
 

Sun Pharma Ending Venture With Merck

Sun Pharmaceuticals the drug maker based in India and Merck, Sharp & Dohme’s or MSD have decided mutually to wind down a joint venture because of changes in the strategic priorities of both parents companies. The just taken decision to cut ties comes nearly five years after both companies joined forces. The announcement was made following a board meeting of Sun on Friday. There will not be any material impact from the decision by Sun, said the company. The investment in this venture is not that significant and is easily factored into the financials... 
 

Sanofi: Earnings in 2016 Will Be Stable

Sanofi announced that it expects its per share earnings to be stable during 2016 after it reported lower income during the fourth quarter on Tuesday. Income was hurt by a drop in sales of its cancer and diabetes treatments, as well as other prescription drugs. The drug maker based in France is going through a big reorganization to address its dropping sales for its best selling drug Lantus. It said that sales of its latest insulin treatment called Toujeo that was launched in 2015 doubled during the fourth quarter in comparison with third quarter... 
 

Pfizer Beats Estimates for Earnings on Sales Growth

Pfizer Inc has reported earnings for the fourth quarter that beat estimates made by analysts  helped by Ibrance the new cancer treatment as well as the Prevnar vaccine. Earnings reached 53 cents per share, said the company in a prepared statement on Tuesday, topping the estimates by analysts by 1 cent. Its per share earnings forecast range was short of estimates. The U.S. drug maker has worked to rebuild its former pipeline and favor with its investors, after a number of patent expirations on key products such as Lipitor and Celebrex, which have... 
 

Roche Profit Disappoints, Outlook is Muted

Swiss pharmaceutical giant Roche posted net profit for the full year of 2015 that came up short of Wall Street expectations. The forecast of the company of an improvement in 2016 met a skeptical response by the market. Roche is relying a great deal on its new immunotherapy treatments against cancer and medications that fight multiple sclerosis as a way to offset the expirations of certain patents that leave its mainstay drug vulnerable to copycats. Roche announced that sales should increase at a rate of low to mid single digits and its core per... 
 

Walgreens Beats the Street on Earnings

Walgreens Boots Alliance Inc has beaten earnings estimates of analysts for its earnings during its fiscal first quarter, as a strong trend in prescription drug made up for a slump in retail that continues plaguing the business. Walgreens has renovated many stores in an attempt  to draw shoppers in with a better overall experience and more products that are high end. In the U.S. the chain’s largest market, retail at same stores contracted 0.6% during the first quarter of the current fiscal year in comparison with the same period last year. Its... 
 

Chagas Treatment Drug Price to Be Raised by Martin Shkreli

Turing Pharmaceutical’s founder Martin Shkreli was the cause of a big stir after he jacked the price of an old drug that AIDS patient take from its original $13.50 per pill to $750 earlier in the year, after he suggested that the new company  would raise prices of the drug for the possible fatal infection disease Chagas. The Trypanosoma cruzi parasite is what causes Chagas. The parasite is found in feces of what is called the kissing bug. The condition could lead to difficulty in swallowing and defecating and might lead to heart problems year... 
 

Pfizer to Tie the Knot with Allergan in Deal Worth $160 Billion

Pfizer and fellow drug maker Allergan announced Monday morning that they would be merging in a huge deal of $160 billion that would create the largest drug maker in the world, producing treatments that vary from Botox to Lipitor. The deal has been structured as “reversed-merger” as the smaller Allergan, based in Dublin, is buying Pfizer based in the U.S. It likely will renew the concern in Washington, D.C. over the corporate inversions where companies with a U.S. domicile are buying or bought by a foreign company to reduce its corporate tax... 
 

Valeant Drops Mail-Order Pharmacy Philidor

Valeant Pharmaceuticals International a maker of drugs, whose practices of aggressive pricing have helped it become a lightning rod for much criticism, announced on Friday it was ending a relationship it had with a pharmacy it used to bolster sales of its most expensive drugs. Valeant, which is based in Quebec, said it was severing all its ties with Philidor Rx Services and Philidor informed Valeant it would shut its operations as quickly as possible. The move comes after the largest three drug benefit managers in the U.S. – Express Scripts, OptumRx... 
 

Antipsychotic Long Lasting Drug Approved by FDA

The U.S. Food and Drug Administration has approved a new drug for schizophrenia by Alkermes PLC a biotech company in Ireland with executives based in Waltham. The new drug, Aristada, is a longer acting version of Abilify an antipsychotic best selling drug that earned over $9 billion last year worldwide, prior to losing its protection from its patent this past April. Aristada, which is administered through injection, dissolves slowly during a period of four to six weeks and negates the need for a daily pill to be taken. Aristada, said one doctor... 
 

Teva Acquires Rimsa the Pharmaceutical Company in Mexico

Teva Pharmaceuticals Industries will acquire Representacions e Investigaciones Medicas a pharmaceutical manufacturing as well as distribution company based in Mexico and known commercially as Rimsa. This deal includes a large portfolio of companies and products, assets, intellectual property and patents for pharmaceuticals in Europe and Latin America, in a cash-free, debt free set of transaction for $2.3 billion in total. Through this acquisition, Israel-based Teva will become the largest pharmaceutical business in Mexico. Teva is expecting the... 
 

WHO Calls For Early HIV Drug Treatment for All

Everyone who has HIV should receive antiretroviral drugs as early as possible following their diagnosis, which means over 37 billion people globally, should be receiving the treatment said the (WHO) World Health Organization on Wednesday. Recently complete clinical trials confirmed early use of the antiretroviral drugs help to extend the lives of people with the virus that cause AIDS and can lower the risk of the disease being transmitting between partners, said the WHO in a prepared statement that set out the new goals for its 194 members. Under... 
 

Collegium Painkiller Given Green Light from FDA Panel

The experimental opioid painkiller by Collegium Pharmaceutical has moved another step closer to FDA approval after a panel of expert advisers to the United States Food and Drug Administration voted unanimously in favor of its painkiller. The panel’s vote was contrary to a recommendation by staff at FDA, which on Wednesday had expressed a concern that the painkiller, which is administered orally could be used incorrectly leading to overdoses. The expert panel voted 23 to 0 in support of approving the drug. However, the FDA is not obliged to follow... 
 

Vital Therapies Stock Plunges Following Failed Trial For Liver Therapy

Vital Therapies Inc lost nearly 75% of its market value on Friday after the company announced that its therapy for the liver failed to reach its main goal in a recent late-stage study, which raised doubts about the treatment’s future. The company released a statement saying it would stop two studies that were ongoing of the therapy which is cell-based, that is aimed at treating liver diseases that are alcohol induced such as alcoholic hepatitis, fatty liver disease and cirrhosis. The liver assist system known as ELAD or extracorporeal liver assist... 
 

Endo International Revenue and Earnings Beat Targets

Endo International on Monday posted adjusted earnings that were better than had been expected during its second quarter, as the sales were given a boost from its recent acquisitions, although its discontinued operation hit its bottom line. Endo, which last year relocated from Pennsylvania to Ireland, is one of many pharmaceutical companies using foreign addresses that are lower in taxes, as a springboard for making acquisitions within the U.S., which has a corporate tax that is one of the highest anywhere in the world. Over the last two years, Endo... 
 

Allergen Bid Might Be Better for Teva

Following months of battling in its hostile takeover bid for Mylan, its rival, Teva Pharmaceutical’s move to acquire Allergan’s generic drug segment might instead be a smoother course that could bring in bigger and faster returns. Teva, which is based in Israel, is the largest generic drug maker in the world and in advanced negotiations with Allergan to purchase its generic drugs business for $40 million to $45 million, according to someone familiar with the situation. News of this deal first broke Saturday when the $40 billion Teva bid for... 
 

Biogen Slashes Forecast on Weakness of Tecfidera

Biogen Inc announced on Friday that it has slashed its outlook for revenue and earnings for the full year as its growth in sales for its multiple sclerosis drug is still weakening. Biogen said it expects to have earnings per share of $14.25 to $14.70, which is down from its guidance released earlier of between $15.45 and $15.85 per share in earnings. Biogen has forecasted growth in revenue of between 6% and 8%, which is down from its growth forecast earlier of between 14% and 16% that was released in January. The company cited new expectations for... 
 

Celgene Investing $1 Billion in Juno Therapeutics

Juno Therapeutics shares soared on Tuesday a day after Celgene a bigger drug developer announced its plans to invest close to $1 billion in the company mostly through purchases of stock as part of a new collaboration to develop autoimmune disease and cancer treatments. Celgene agreed to pay $150 million now and purchase 9.1 million of Juno shares at a price of $93 apiece. The portion of stock totals close to $850 million and the price was close to double the price of Juno stock last Friday that closed at $46.61. The collaboration amongst the two... 
 
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