Press review

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Takeda sets date for shareholder vote on £46 billion Shire deal

Country : Japan, South Korea, U.S.

Keywords :
LONDON, 16 Nov (APM) - Takeda is to hold an extraordinary shareholder meeting on 5 December to approve the proposed £46 billion takeover of Shire, the Financial Times reported on Monday.
It said the key vote comes as a group of shareholders, including several founding members of Takeda, steps up a campaign to derail a deal that Japan's largest drugmaker sees as necessary to catapult it into the ranks of the world's biggest pharma companies.
It said Takeda has brought forward the date as managers have become increasingly confident about the prospects of the company securing a two thirds approval from the shareholders to issue new shares to finance the acquisition.

AstraZeneca receives boost with Farxiga cardiovascular data

The FT at the weekend said AstraZeneca's Farxiga (dapagliflozin) reduces the chances of diabetic patients being hospitalised with heart failure, a condition associated with type 2 diabetes. (APMHE 60534)
It said the findings from the trial provide a significant boost to the company which is striving to meet ambitious revenue targets.

Bayer to challenge weedkiller rulings

The FT on Tuesday said Bayer reported flat earnings in the third quarter. In relation to the ongoing litigation in the U.S. regarding the safety of Monsanto's popular glyphosate herbicide, Bayer said 9,300 plaintiffs had taken legal action against it at the end of October. (APMHE 60563)
Bayer said the decision in the case of Dewayne Johnson, who won damages in August for exposure to the weedkiller that he claimed caused his cancer, was incorrect and the company would appeal the ruling through the California courts.

Obesity pill

An obesity pill that expands into a gel almost 100 times its original size after being swallowed has moved one step closer to approval, The Telegraph reported on Tuesday.
The product is called Gelesis100 and is a capsule that contains small particles made up of cellulose, a fibre found in plants, and citric acid, which is found in fruits.
When the particles come into contact with water, they soak up more than 100 times their weight and form a super-absorbent hydrogel, similar in consistency to tapioca pudding.
This fills the stomach and creates a sensation of fullness, resulting in the patient eating less food.
Late-stage trial results suggest the pill is good at helping people lose weight, with 60% of those who were administered Gelesis100 losing just over 20 pounds, or 10% of their body weight, in six months. Those patients with pre-diabetes or early diabetes lost on average 30 pounds.
The company behind the pill is U.S.-based Gelesis, which is 20% owned by London-listed biotech Puretech.

Samsung BioLogics violated accounting rules - watchdog

Samsung BioLogics, the biopharmaceutical arm of Samsung Group, violated accounting rules in 2015 by inflating the value of an affiliate group, South Korea's watchdog said on Wednesday.
The ruling casts a shadow over Samsung’s future growth strategy and is a setback for South Korea’s largest conglomerate, the FT reported on Wednesday. (APMHE 60572)
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