20 July 2019

Healthcare & Biotech

  • The US Justice Department said the illegal scheme began before Indivior spun out of Reckitt in 2014 and resulted in thousands of opioid-addicted patients using the drug. Photo: Bloomberg

    Reckitt to pay US$1.4 billion to end US opioid probes

    Jul 12, 2019 8:29am
    Reckitt Benckiser has agreed to pay up to US$1.4 billion to resolve US claims that its former pharmaceuticals business Indivior before it was spun out of the company carried out an illegal scheme to boost sales...
  • Mercedes Vila, co-founder of Biotech Foods, said her company aims to reach production scale and have regulatory approval by 2021. Photo: Reuters

    US$280,000 lab-grown burger set to be a lot more affordable

    Jul 10, 2019 9:41am
    Consumers concerned about climate change, animal welfare and their own health are fueling interest in so-called clean meat, with the number of associated business startups climbing from four at the end of 2016 to more than...
  • Analysts forecast Allergan's Botox sales to reach US$3.9 billion this year and nearly US$6 billion by 2025. Photo: Bloomberg

    AbbVie to acquire Botox-maker Allergan in US$63 billion deal

    Jun 26, 2019 8:48am
    Drugmaker AbbVie Inc. said it is acquiring Allergan Plc for about US$63 billion, giving AbbVie control over the lucrative wrinkle treatment Botox and buying time to seek new growth before its blockbuster arthritis treatment Humira loses...
  • Climbers make their way to the summit of Mount Everest in Nepal on May 22. Photo: Reuters

    Economic lessons from Everest

    - Jun 19, 2019 12:17pm
    Like many others, I was shocked by recent images showing the size of the queue that formed in May to scale Mount Everest, the world’s highest peak, from the Nepalese side. The idea that delays caused...
  • Although the reward can be huge, successful creation of a new drug could take more than a decade from development to approval. Photo: Reuters

    HK startup Aptorum casts wide net at biotech business

    - May 31, 2019 3:39pm
    A typical biotech startup is often founded by a scientist or researcher focusing on a highly specific area, but Aptorum spreads its business over a wide range of projects. Its boss, Ian Huen, studied economics and...
  • The US state of Oklahoma said Johnson & Johnson marketed the opioids as “safe and effective for everyday pain” while downplaying their addictive qualities, thereby helping create a drug oversupply. Photo: Reuters

    J&J accused of helping fuel US opioid crisis in Oklahoma trial

    May 29, 2019 9:16am
    Johnson & Johnson’s greed led the drugmaker to use deceptive marketing to create an oversupply of painkillers that fueled the US opioid epidemic, the US state of Oklahoma alleged at the start of the first trial...
  • Mindray Medical International, with a 174 billion yuan market cap, should learn its lesson on how to treat shareholders. Photo: Mindray/Facebook

    How not to deal with shareholders

    - May 15, 2019 1:03pm
    Shareholders’ meetings are cheerful occasions where company officials, normally aloof and unapproachable, go out of their way to please investors. They highlight the company’s achievements and sometimes play down less pleasant developments as they smile from...
  • The jury found that Bayer AG’s glyphosate-based Roundup weed killer caused the plaintiffs to contract non-Hodgkin’s lymphoma. Photo: Reuters

    US jury hits Bayer with US$2 billion award in cancer trial

    May 14, 2019 8:36am
    A California jury awarded more than US$2 billion to a couple who claimed Bayer AG’s glyphosate-based Roundup weed killer caused their cancer, in the largest US jury verdict to date against the company in litigation over...
  • Virtual reality is often associated with games, but the technology is also being increasingly used in medical services. Photo: Reuters

    Virtual reality relieves pain of patients

    - May 6, 2019 3:02pm
    When it comes to virtual reality (VR), most people may think of computer games, but the application of VR is far more than that. VR is widely applied today in medical services, particularly in pain management....
  • Kangmei Pharmaceutical announced that it had overstated its revenue by 7.66 billion yuan and cash position by almost 30 billion yuan in its 2017 report. Photo: Kangmei

    China’s star drugmaker in multibillion-dollar ‘accounting error’

    - May 6, 2019 12:03pm
    Kangmei Pharmaceutical Co. (600518.CN) dropped a bomb on its investors last week, announcing that it had massively overestimated its cash holdings by over 30 billion yuan (US$4.44 billion). In a letter to shareholders, the company said...
  • Morgan Stanley estimates that Apple's sales from healthcare-related products and services could reach US$313 billion by 2027. Photo: Bloomberg

    Apple eyes healthcare as growth engine

    - Apr 10, 2019 12:12pm
    On Monday, shares of Apple returned to the US$200 level for the first time since November last year, after Morgan Stanley predicted that the technology giant could become an important player in the healthcare sector and...
  • Johnson & Johnson is facing more than 13,000 talc-related lawsuits across the United States. Photo: Reuters

    J&J ordered to pay US$29 million in latest talc cancer trial

    Mar 14, 2019 10:50am
    A California jury ordered Johnson & Johnson to pay US$29 million to a woman who said that asbestos in the company’s talcum-powder-based products, including Johnson’s Baby Powder, caused her mesothelioma. The verdict, in California Superior Court...
  • General Electric lost two-thirds of its market value in the last two years amid a series of operational and investment missteps. Photo: AFP

    GE inks US$21 billion biopharma sale to Danaher

    Feb 26, 2019 9:12am
    General Electric said it will sell its biopharma business to Danaher Corp. for US$21.4 billion in the biggest strategy reversal since Lawrence Culp took over as the industrial conglomerate’s chief executive in September, Reuters reports. GE...
  • The securities regulator said Prasert Prasarttong-osoth, his daughter and another executive executed and matched trading in Bangkok Airways shares that caused price and volume to be inconsistent with market conditions. Photo: Bloomberg

    Thai tycoon quits listed firms on regulator’s order

    Jan 21, 2019 1:11pm
    Thai tycoon Prasert Prasarttong-osoth resigned on Monday as chief executive of Bangkok Dusit Medical Services and Bangkok Airways after the securities regulator barred him from holding executive positions in listed Thai firms, citing share manipulation, Reuters...
  • Australian medical center operator Healius has rejected a bid by stakeholder Jangho Group as being 'opportunistic'. Representational image: Bloomberg

    Australia’s Healius rejects US$1.2 bln bid from China’s Jangho

    Jan 7, 2019 9:26am
    Healius, Australia’s No. 2 medical center operator, on Monday rejected a A$1.7 billion (US$1.21 billion) buyout approach from Chinese construction company Jangho Group, Reuters reports. The Australian firm, known until recently as Primary Health Care, said its...
  • Bristol-Myers Squibb said the deal is expected to achieve US$2.5 billion in cost savings by 2022 and add more than 40 percent to its earnings in the first year after the deal closes. Photo: Reuters

    Bristol-Myers to buy Celgene for US$74 billion

    Jan 4, 2019 8:01am
    Bristol-Myers Squibb Co. said it will buy Celgene Corp. for about US$74 billion, combining two of the world’s largest cancer drug businesses in the biggest pharmaceutical deal ever, Reuters reports. Both Bristol-Myers and Celgene face separate...
  • WuXi AppTec will use its Hong Kong listing proceeds on several expansion projects, including a Chengdu R&D campus. Photo: Bloomberg

    China’s WuXi AppTec raises US$1.01 bln in HK listing: report

    Dec 7, 2018 3:25pm
    Chinese medical tech platform WuXi AppTec raised US$1.01 billion in its Hong Kong listing, valuing the company at US$10.2 billion, Reuters reports, citing sources. WuXi, which is already listed in Shanghai, priced its Hong Kong shares...
  • Bayer plans to divest some brands and reduce its workforce in a major cost-cutting drive following its acquisition of Monsanto. Photo: Bloomberg

    Bayer to sell businesses, cut jobs after Monsanto deal

    Nov 30, 2018 9:55am
    German drugmaker Bayer announced plans to sell some businesses in a cost-cutting drive that includes around 12,000 job cuts, as the firm reviews its operations following its takeover of US seed company Monsanto. The group said on...
  • Juul Labs will pull out popular flavors such as mango, cucumber and fruit from retail store shelves. Photo: Reuters

    Juul Labs to pull sweet e-cigarette flavors to curb youth use

    Nov 14, 2018 10:49am
    Juul Labs Inc., the US market leader for electronic cigarettes, said it will pull out popular flavors such as mango, cucumber and fruit from retail store shelves in an effort to reduce surging teenage use of...
  • US healthcare software maker Athenahealth is being acquired by a PE firm and a hedge fund in an all-cash deal.  Photo:

    Veritas Capital, Elliott in US$5.7 bln deal for Athenahealth

    Nov 13, 2018 9:32am
    Private-equity firm Veritas Capital and hedge fund Elliott Management are acquiring US healthcare software maker Athenahealth in a deal worth about US$5.7 billion. The all-cash deal values Athenahealth at US$135 per share, representing a premium of...

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