Fifty-five, pensionless and assuming he’d have to work until he died, Roger Ulrich had a decision to make. After two decades in the pharmaceutical industry, his position at Merck & Co. had been phased out.
Endo Health Solutions Inc., a maker of painkillers facing declining revenue for its main treatments, agreed to buy Canadian drug company Paladin Labs Inc. for about $1.6 billion to expand in that country and emerging markets. Endo shares soared the most in 13 years.
U.S. stocks declined, following two days of gains that sent the Standard & Poor’s 500 Index to within five points of a record high, as investors awaited this week’s data on economic growth and employment.
The shares of Teva Pharmaceutical Industries Ltd., the world’s largest generic-drug maker, have plunged 42 percent since their 2010 peak. Now the man hired to turn the company around just 18 months ago is gone, and analysts say it may be tough to find a replacement.
The U.S. Securities and Exchange Commission filed and settled an insider-trading lawsuit against Lawrence Robbins, an independent filmmaker, for trading on tips he received from a friend involving drug-company acquisitions.
Sam Waksal is back. Five years after the cancer drug company he founded was sold to Eli Lilly & Co. for $6.5 billion, and four years after he served jail time in an insider trading scandal that ensnared Martha Stewart, Waksal is again making moves in the biotechnology industry.