Forest Laboratories Inc, which is facing patent expirations on several of its biggest drugs, on Monday said it plans to buy rights to a new schizophrenia treatment from Merck & Co and cut annual operating costs by $500 million in fiscal 2016.
Tags: Merck & Co
It's Over For Sanofi and Merck European Joint Vaccines Venture
Drug makers Sanofi and Merck & Co. will part ways by the end of the year sealing their partnership for the European vaccines joint venture. Sales has been declining and both companies agreed it is better if they were better off running their own businesses.
Merck, Eli Lilly Probed for Alleged Drug over Pricing
The Justice Department launched an investigation on drug makers Merck & Co, Valeant Pharmaceuticals International, and Eli Lilly & Co for alleged over pricing. The Wall Street Journal reported that the US Attorney's office in Eastern District of Pennsylvania, along with the Justice Department's civil division set a probe on Merck, Eli Lilly, and Valeant on how these drug makers calculate and report their product pricing to the government medical rebate program.
Investors seek protection against healthcare stock decline
Healthcare companies on a seven-year tear have been top performers so far in 2015, helping to push broad stock indexes to record levels, but traders are now looking to protect themselves from a selloff as they await major earnings reports in the sector.
AstraZeneca strengthens cancer business with new deals
AstraZeneca moved to strengthen its core oncology business on Tuesday with three deals designed to expand the British drugmaker's reach in treating tumors.
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A Reuters report said Merck & Co would be bringing back Zilmax to the US and Canadian markets after completing its audit.
Merck & Co. decided to cut its annual spending by USD2.5 billion and eliminate more than 10% of its global workers.
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