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European stocks rise on pharmaceutical shake-up

European stock markets rallied in morning deals on Tuesday as shares in pharmaceutical groups surged owing to a major reshaping of the sector. London's benchmark FTSE 100 index climbed 0.79 percent to 6,677.55 points compared with Thursday's closing level -- the last trading day before European markets closed for Easter. Frankfurt's DAX 30 jumped 0.95 percent to 9,499.05 points and the CAC 40 in Paris advanced 0.52 percent to 4,454.96. The euro rose against the dollar.

Novartis, GSK reveal huge deals in global healthcare markets

Swiss pharmaceutical giant Novartis and British group GlaxoSmithKline announced a major shake-up of their healthcare divisions on Tuesday in deals worth billions of dollars. The string of takeovers and ventures involves three giant healthcare groups and will affect several areas of healthcare, and also animal welfare, in the fast-changing global health sector, including markets in emerging economies.

Eli Lilly to buy part of Novartis for $5.4 bn

US pharmaceutical giant Eli Lilly said Tuesday it has reached an agreement to acquire the animal health division of Novartis of Switzerland for $5.4 billion (3.9 billion euros). In a statement Eli Lilly said the deal will strengthen and diversify its animal health unit, Elanco, and make it the world's second largest in the sector in terms of global revenue. Under the terms of the agreement, Lilly will acquire all assets of Novartis Animal Health for a total purchase price of approximately $5.4 billion, including anticipated tax benefits, Eli Lilly said.

GSK says to sell oncology arm to Novartis for $16 bn

British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday. Under a "major three-part transaction" GSK and Novartis have agreed also to create a consumer healthcare business, according to a statement issued by GlaxoSmithKline. bcp/yad

Novartis' meningitis B vaccine wins breakthrough therapy status in U.S.

ZURICH (Reuters) - Novartis said U.S. health regulators have granted the Swiss drugmaker's meningitis B vaccine Bexsero breakthrough therapy status. The Basel-based company in a statement on Monday said it plans to file for U.S. approval of Bexsero as early as the second quarter of this year.

Drugmaker Novartis files patent suit against Biocon over Galvus

ZURICH (Reuters) - Novartis has taken India's Biocon to court for infringing the patent on its diabetes drug Galvus, the Swiss drugmaker said in a statement on Thursday. The Basel-based firm has filed infringement proceedings and is seeking an injunction against Biocon at Delhi's High Court to try to stop the Indian company launching a generic version of Galvus, also known as vildagliptin.

Drugmaker Novartis files patent suit against Biocon over Galvus

ZURICH (Reuters) - Novartis has taken India's Biocon to court for infringing the patent on its diabetes drug Galvus, the Swiss drugmaker said in a statement on Thursday. The Basel-based firm has filed infringement proceedings and is seeking an injunction against Biocon at Delhi's High Court to try to stop the Indian company launching a generic version of Galvus, also known as vildagliptin.

Novartis replaces top management in Japan after probe on clinical trials

TOKYO (Reuters) - Novartis AG replaced the top managers at its Japanese unit on Thursday after a third-party probe found employees had acted questionably in clinical trials on a leukaemia treatment. The probe's findings included possible destruction of evidence and the potential obtaining of patients' personal data by employees of the Japanese unit, Novartis Pharma K.K. said in a statement.

Novartis' top Japan executives quit over cancer drug scandal

Swiss pharmaceutical giant Novartis said Thursday it was replacing the top executives at its Japanese unit over allegations the division hid serious potential side effects of leukaemia treatments from regulators. The company also said it was freezing funding for clinical trials in the country in the wake of the scandal, which David Epstein, head of the firm's pharmaceutical division, branded "unacceptable and a clear violation of our code of conduct". Epstein told a press briefing in Tokyo that the senior managers "resigned, they are out of the company".

Novartis' top Japan executives quit over cancer drug scandal

Swiss pharmaceutical giant Novartis said Thursday it was replacing the top executives at its Japanese unit over allegations the division hid serious potential side effects of leukaemia treatments from regulators. The company also said it was freezing funding for clinical trials in the country in the wake of the scandal, which David Epstein, head of the firm's pharmaceutical division, branded "unacceptable and a clear violation of our code of conduct". Epstein told a press briefing in Tokyo that the senior managers "resigned, they are out of the company".
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