Aetna Inc., the third-biggest U.S. health insurer, predicted 2014 profit higher than analysts’ estimates, as improving commercial pricing will help offset Medicare cuts from President Barack Obama’s health overhaul.
OncoMed Pharmaceuticals Inc., a drug developer that first sold shares to the public in July, almost doubled in trading after signing a $177.25 million agreement with Celgene Corp. on as many as six potential cancer medicines.
President Barack Obama is seeking to give consumers more time and options to enroll in Affordable Care Act health plans, delaying an application deadline and allowing insurers in three states to sign up customers directly.
Jauyo Lee, a former Leerink Swann LLC investment banker, was sentenced to 16 months in prison for providing inside information about pending mergers involving clients to a childhood friend who made $600,000 after trading on the tips.
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.
Teva Pharmaceutical Industries Ltd. fell for a fourth day as better-than-estimated earnings failed to assuage concern that the abrupt departure of Chief Executive Officer Jeremy Levin will disrupt the drugmaker’s turnaround.