AstraZeneca, Shire dive as U.S. tax move punctures deal hopes

AstraZeneca, Shire dive as U.S. tax move punctures deal hopes

By Ben Hirschler LONDON (Reuters) - Shares in drugmakers AstraZeneca and Shire fell sharply on Tuesday after the U.S. Treasury took steps to curb "inversion" deals that allow companies to escape high U.S. taxes by reincorporating abroad. The move could jeopardize an agreed deal for AbbVie to buy Shire for $55 billion and deter Pfizer from making another attempt to acquire AstraZeneca, after a $118 billion takeover attempt failed in May. The slide in both companies shares wiped out around $8 billion in their combined market value, with AstraZeneca down 5.0 percent and Shire losing 6. ...

Ebola drug trials to be fast-tracked in West Africa

LONDON (Reuters) - Several experimental Ebola drugs, including compounds from Mapp Biopharmaceutical, Sarepta and Tekmira, will be tested in West Africa for the first time in a bid to fast-track trials, the Wellcome Trust charity said on Tuesday. Announcing a 3.2 million pounds ($5.25 million) grant for the work, the global health charity said the money would "enable multiple partners around the world to quickly establish clinical trials at existing Ebola treatment centers". ...

AstraZeneca, Shire dive as U.S. tax move punctures deal hopes

By Ben Hirschler LONDON (Reuters) - Shares in drugmakers AstraZeneca and Shire fell sharply on Tuesday after the U.S. Treasury took steps to curb "inversion" deals that allow companies to escape high U.S. taxes by reincorporating abroad. The move could jeopardize an agreed deal for AbbVie to buy Shire for $55 billion and deter Pfizer from making another attempt to acquire AstraZeneca, after a $118 billion takeover attempt failed in May. The slide in both companies shares wiped out around $8 billion in their combined market value, with AstraZeneca down 5.0 percent and Shire losing 6. ...

Breaking with tradition, Philips splits off lighting

By Anthony Deutsch and Thomas Escritt AMSTERDAM (Reuters) - Philips , the Dutch conglomerate that started life making light bulbs 123 years ago, is splitting off its lighting business in a bold step to expand its higher-margin healthcare and consumer divisions. Putting the lighting business in a separate company is part of a wider strategy that began with Philips' move out of less profitable consumer electronics and into fast-growing healthcare markets, largely in emerging Asian markets. ...

Ebola drug trials to be fast-tracked in West Africa

LONDON (Reuters) - Several experimental Ebola drugs, including compounds from Mapp Biopharmaceutical, Sarepta and Tekmira, will be tested in West Africa for the first time in a bid to fast-track trials, the Wellcome Trust charity said on Tuesday. Announcing a 3.2 million pounds ($5.25 million) grant for the work, the global health charity said the money would "enable multiple partners around the world to quickly establish clinical trials at existing Ebola treatment centers". ...

Ebola cases to triple in weeks without drastic action: WHO

Geneva (AFP) - The number of Ebola infections will triple to 20,000 by November, soaring by thousands every week if efforts to stop the outbreak are not stepped up radically, the WHO warned in a study on Tuesday.

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