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Philips struck by fall in consumer confidence

The Dutch electronics group plans to introduce cost-cutting initiatives as the global financial crisis takes effect and the company sees demand dropping

Fears over the health of UK life sector

The Financial Services Authority is concerned over the strength of the life assurance industry despite tighter regulation being enforced since the last bear market in 2004

Doctors shortage imperils healthcare pledge

Inadequate supply of primary care physicians and certain specialists in Massachusetts threatens the state’s reform initiative and could hinder efforts to enact universal healthcare

Japanese drug group buys rival for $2bn

Mediceo Paltac, Japan’s largest pharmaceuticals wholesaler, is to buy its biggest domestic rival in a $2bn deal designed to combat falling drug prices

Proposed controls threaten EU drug trade

Distributors who arbitrage the price differences across Europe could see their $5.5bn a year trade severely curtailed under new rules and legislation set to be unveiled by Brussels

Drug groups urged to cut NHS prices

The government is pushing pharmaceutical companies to offer lower prices for new drugs on the understanding that the NHS will pay more if later evidence proves greater effectiveness

Epistem hurt by cell research costs

Demand for contract pharmaceutical research helped boost revenues by 50 per cent to £2.1m at Epistem, the biotechnology group

Lex: Eli Lilly buys ImClone

Biotechnology stocks once underperformed the broader Nasdaq but have found favour as banks, brokers and insurance companies redefine a risky bet

ImClone backs $6.5bn Eli Lilly bid

The US cancer drug maker agrees a $70 a share cash offer from Eli Lilly, which trumped an unsolicited approach from ImClone’s partner Bristol-Myers Squibb

United Drug eyes double-digit growth despite difficulties

United Drug, the wholesaler of pharmaceuticals and medical equipment, is poised to report double-digit earnings growth this year

Related content and features

Business Life

Medicine for a sector

pharmaceutical graphic

As global pressures mount, French pharmaceutical companies are looking further afield for solutions to their problems

LEX

ImClone/Eli Lilly

Lex

The biotech company chaired by Carl Icahn says an unidentified party had completed due diligence, with negotiations under way

Eli Lilly buys ImClone

While markets around the world panicked, Eli Lilly announced an agreement to pay $6.5bn for ImClone – a market value double that of June, before speculation of a buyer arose

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