Vivus Inc.’s shareholders are poised to reap an 88 percent windfall in a takeover after the company’s weight-loss drug moved one step closer to winning approval to treat America’s 78 million obese adults.
Valeant Pharmaceuticals International Inc. Chief Executive Officer J. Michael Pearson has built the little-known Canadian drugmaker into a stock- market favorite with 21 friendly acquisitions for $1.8 billion since he took over in 2008.
A Vivus Inc. dissident investor, First Manhattan Co., will gain the majority of the drugmaker’s board seats and its choice for chief executive officer after the two sides agreed to end a fight for control of the company.
Roche Holding AG’s pursuit of Illumina Inc. is putting companies from Life Technologies Corp. to Genomic Health Inc. in play as health-care providers turn to DNA to tailor treatments for cancer and inherited diseases.
Orexigen Therapeutics Inc. slid the most in four months in Nasdaq trading after the drugmaker said it will halt U.S. development of the diet pill Contrave because of uncertainty in the regulatory process.