27 April 2018

Healthcare & Biotech

  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...
  • Cigna’s CEO David Cordani says the Express Scripts acquisition will be good news for the health insurer’s employer clients. Photo: Reuters

    Health insurer Cigna to buy Express Scripts for US$52 bln

    Mar 9, 2018 9:47am
    US health insurer Cigna has agreed to buy pharmacy benefits manager Express Scripts in a deal worth US$52 billion, the latest mega transaction in the healthcare-related business in the country. The companies say the combination will...
  • Former drug company executive Martin Shkreli is scheduled to be sentenced for securities fraud on Friday. Photo: Bloomberg

    US judge orders ‘Pharma Bro’ Shkreli to give up US$7.36 million

    Mar 6, 2018 9:06am
    Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a US judge ordered him to forfeit US$7.36 million following his conviction of defrauding investors, Reuters reports....
  • The new initiative grew out of conversations that (from left) Jamie Dimon, Warren Buffett and Jeff Bezos  have held over the years and gained momentum in recent months. Photos: AFP, Reuters, Bloomberg

    Amazon, Berkshire, JPMorgan partner to cut US healthcare costs

    Jan 31, 2018 9:22am Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. will form a company to cut health costs for hundreds of thousands of their employees, setting up a major challenge to an inefficient US healthcare system,...
  • The deal is the first co-investment by Google and Tencent since the two companies revealed this month that they have signed a patent-sharing agreement. Photos: Reuters, Bloomberg

    Google, Tencent join US$15 million funding for pharma startup

    Jan 24, 2018 3:56pm
    Alphabet Inc.’s Google, Tencent Holdings Ltd. and Sequoia Capital China have joined a US$15 million B series funding round for Boston- and Shenzhen-based artificial intelligence (AI) pharmaceutical firm XtalPi Inc., Reuters reports. Sequoia led the round, which...
  • CVS expects Aetna acquisition to yield cost synergies of US$750 million in the second year after the transaction closes. Photo: Reuters

    CVS Health to buy Aetna for US$69 bln in year’s biggest deal

    Dec 4, 2017 8:25am
    US drugstore chain operator CVS Health Corp has agreed to buy health insurer Aetna for US$69 billion in cash and stock, marking the year’s largest corporate acquisition deal. According to an announcement Sunday, Aetna shareholders will...
  • The deal will help Shanghai Pharmaceuticals Holding, China’s third-largest drug distributor, become a leading importer of foreign medicine into the world’s second-largest drug market. Photo: Reuters

    Shanghai Pharma buys Cardinal’s China business for US$557 mln

    Nov 16, 2017 7:34am
    Shanghai Pharmaceuticals Holding Co. Ltd. (02607.HK, 601607.CN) has agreed to buy Cardinal Health Inc.’s China drug distribution business for US$557 million, winning a highly competitive auction in a move that will greatly expand its presence nationwide,...
  • Novo Nordisk has a number of promising new drugs that have either recently been released or are in the latter stages of development, including a weight loss drug. Photo: Reuters

    Looking beyond Europe’s golden year

    - Nov 9, 2017 3:42pm
    European equities have enjoyed a perfect storm of positivity this year. Reduced political uncertainty, improving economic data and steady company results have all driven investors back to this often-overlooked region. However, these benign conditions cannot last...
  • Base editing does not cause a break in the DNA, and so it might produce more predictable results. Photo: Doudna Research Graphic

    US scientists unveil powerful new tools to fix genetic faults

    Oct 26, 2017 8:31am
    US scientists unveiled two new molecular editing tools designed to fix mutations that cause the majority of human genetic diseases, some of which have no known treatment, Reuters reports. One technique, by David Liu of Harvard...
  • Almost one in three Americans aged 65 to 69 is still working, along with almost one in five in their early 70s. Photo: Bloomberg

    Americans retiring later, dying sooner, statistics show

    Oct 24, 2017 10:06am
    Americans are retiring later but dying sooner, Bloomberg reports, citing the latest statistics from the US Society of Actuaries. The US age-adjusted mortality rate rose 1.2 percent from 2014 to 2015, according to the data released...
  • Johnson & Johnson is accused of not adequately warning consumers about the cancer risks of its talc-based products. Photo: AFP

    California judge junks US$417 mln verdict vs Johnson & Johnson

    Oct 23, 2017 8:27am
    A California judge threw out a US$417 million verdict against Johnson & Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using its talc-based products like Johnson’s Baby Powder for feminine...
  • The research and development lifecycle for advancing new drugs takes 10-15 years at an average cost of US$2.5 billion, and only 5 percent of compounds make it through to the market. Photo: LinkedIn

    M&A is the new R&D in healthcare sector

    - Oct 4, 2017 9:43am
    One of the sectors most affected by technological disruption and disintermediation is healthcare. Advances in technology and big data are expected to help accelerate the process of discovering the next blockbuster cure, even as the industry...
  • Bill Gates hopes proposed cuts in US government funding for global health and development will not be approved. Photo: Bloomberg

    Bill Gates: Progress in fighting global poverty, disease at risk

    Sep 14, 2017 9:03am
    Proposed US budget cuts could put in jeopardy great progress in reducing global poverty and disease and lead to 5 million more deaths from AIDS alone, the philanthropist Bill Gates warned. Gates, whose Bill and Melinda...
  • Drinks industry groups often present the relationship between alcohol and cancer as highly complex, implying there is no clear evidence of a consistent link, according to the study. Photo: Bloomberg

    Drinks industry distorting alcohol cancer risk, study says

    Sep 11, 2017 8:35am
    The alcohol industry uses denial, distortion and distraction to mislead people about the risks of developing cancer from drinking, often employing similar tactics to those of the tobacco industry, according to a study. Drinks industry organizations...
  • McDonald's is requiring suppliers of chicken meat to begin phasing out the use of antibiotics defined as "highest priority critically important antimicrobials" to human medicine. Photo: Reuters

    McDonald’s to cut global antibiotic use in chickens

    Aug 25, 2017 8:34am
    McDonald’s Corp. said it will begin curbing the use of the high value human antibiotics in its global chicken supply in 2018, as the fast-food giant joins a broad effort to battle dangerous superbugs. McDonald’s, in...
  • PepsiCo has set a target that by 2025 at least two-thirds of its drinks will have 100 calories or fewer from added sugar per 12 oz serving, up from about 40 percent. Photo: Bloomberg

    In health push, Singapore gets soda makers to cut sugar content

    Aug 22, 2017 8:51am
    Singapore’s prime minister has urged people to drink water, eat wholemeal bread and choose brown rice over white in a health push that began with an agreement from soda makers to reduce the sugar content in...
  • WebMD ran a five-month auction and solicited bids from more than 100 companies and private equity firms. Photo: Bloomberg

    KKR nears deal to acquire WebMD

    Jul 24, 2017 8:14am
    Private equity firm KKR & Co LLP  is nearing an all-cash deal to acquire WebMD Health Corp, a U.S. online health publisher with a market capitalization of US$2.1 billion, Reuters reports, citing people familiar with the...
  • Dow Chemical is selling the assets to meet conditions set by US regulators for its US$130 billion merger with DuPont. Photo: Bloomberg

    CITIC fund buys Dow corn seed assets for US$1.1 billion

    Jul 12, 2017 4:09pm
    A Chinese fund part-owned by congolomerate CITIC Ltd. has paid US$1.1 billion for some of Dow Chemical Co.’s corn seed business in Brazil, in a further sign of China’s fast-expanding role in the global seed sector....
  • Xiaomi founder Lei Jun is known for his warm personality and willingness to listen to others. Photo:

    Character lessons from Xiaomi’s Lei Jun

    - Jul 10, 2017 10:21am
    Unlike many founders of internet companies who have strong personalities, Xiaomi’s Lei Jun has been known for his mellow character. It is said that Lei has never yelled at his staff. When he encounters a problem,...
  • Henry Cai's AGIC Capital will acquire The Ritedose Corporation from US private equity firm Olympus Partners in a deal worth between US$600 million and US$800 million, including debt. Photo: HKEJ

    AGIC Capital to buy pharmaceutical firm Ritedose in US push

    Jun 26, 2017 4:02pm
    A Hong Kong-based private equity fund is making its first acquisition in the United States. AGIC Capital, a US$1 billion fund co-founded in 2015 by veteran China banker Henry Cai, said it will acquire The Ritedose...

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