Joe Dear is giving a pep talk to more than two dozen colleagues at the California Public Employees’ Retirement System. As Dear paces before his people on this July afternoon in Sacramento, he implores them to shake off the funk of the pension fund’s recent troubles.
Aspen Pharmacare Holdings Ltd. , Africa’s largest drugmaker, agreed to buy a unit of Sigma Pharmaceuticals Ltd. for A$900 million ($806 million) in cash to gain assets from a company that’s lost about half its value in the past year.
Sara Ahrens pinches her thigh, pushes a half-inch needle into her skin and turns on a pump. Then she sits back to watch “Grey’s Anatomy” at her Long Beach, California, home as life-saving liquid flows into her body.