Mylan, King Pharmaceutical Deal Unlikely
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-- Mylan Laboratories Inc. on Wednesday said it was unlikely to complete its &#36;3.37 billion acquisition of King Pharmaceuticals Inc. at the current price because of King's need to restate earnings.
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A bid by US investment group KKR and the deputy chairman of Alliance Boots, Europe's biggest pharmacy chain, to takeover the group is far from set in stone, a business daily reported on Monday.
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The company's inhaled insulin might not reach the market for several years, if it does, but it's a big market.
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The aluminum producer Alcoa said in a statement that it would continue to pursue its $27.4 billion cash and stock bid for a rival, Alcan, despite the Canadian companyâs rejection of the offer. But Alcoaâs chairman and chief executive, Alain J. P. Belda, said that the company would not enhance the proposal, which Alcan called inadequate. âWe have studied Alcanâs response and have not seen anything that would lead us to re-evaluate our offer,â Mr. Belda said. He also rejected suggestions by Alcan that Alcoa would have difficulty obtaining antitrust approval for the merger and urged Alcanâs board to resume its examination of the bid.
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A day late and possibly several millions of dollars short. That's the scenario facing one drug manufacturer unless it can get a helping hand from Congress.
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Progress on its lead drug remains stalled.
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A Mylan Laboratories shareholder is suing the Canonsburg generic drug maker and its directors, saying they have failed their fiduciary obligations by not considering billionaire investor Carl Icahn&#39;s $20 per share offer for the company.
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WASHINGTON An investment firm has told Mylan Laboratories that a proposed acquisition of King Pharmaceuticals is not in the best interests of investors.
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Not buying it. Megafinancier Carl Icahn has made it clear: He&#39;s still opposed to Mylan Laboratories&#39; (nyse: MYL - news - people ) proposed acquisition of King Pharmaceuticals (nyse: KG - news - people ). Despite
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A proposed leukemia drug should not receive federal approval, government advisers recommended Wednesday.
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Merck next month will make its second try for approval to sell cholesterol drug Mevacor without a prescription. If the Food and Drug Administration approves, cholesterol drugs would
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Elan Corp. PLC of Ireland yesterday denied it was involved in merger talks with Biogen Idec Inc. of Cambridge, seeking to squelch rumors of a possible deal just prior to the anticipated approval of Antegren, the two firms' treatment for multiple sclerosis.
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WASHINGTON (CBS.MW) -- Mylan Laboratories (MYL) , responding to the latest in a series of letters from investor Carl Icahn, reasserted its position that acquiring King Pharmaceuticals (KG) is in the long-term interest of the generic drugmaker and its
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Generic drug maker Mylan Laboratories Inc. reaffirmed on Wednesday its planned $3.37 billion purchase of King Pharmaceuticals Inc.
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Icahn is involved in the Mylan-King Pharmaceuticals deal for his benefit only.
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PITTSBURGH The chief executive of Mylan Laboratories says a move by Wall Street financier Carl Icahn (EYE&#39;-kahn) to halt Mylan&#39;s acquisition of King Pharmaceuticals is wrongheaded.
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The billionaire financier Carl Icahn offered to buy the generic drug maker Mylan Laboratories to force the company to drop its acquisition of King Pharmaceuticals.