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Flush with cash, Pfizer buys Global Blood Therapeutics in $5.4 bln deal

Aug 8 (Reuters) – Pfizer Inc on Monday agreed to pay $5.4 billion in cash for sickle cell disease drugmaker Global Blood Therapeutics (GBT.O), as it looks to capitalize on a surge in revenue from its COVID-19 vaccine and treatment.Pfizer will pay $68.50 per GBT share, which represents a 7.3% premium to its Friday closing …

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Amazon’s connected device cart grows with $1.7 billion deal for Roomba maker

Aug 5 (Reuters) – Amazon.com Inc (AMZN.O) will acquire iRobot Corp (IRBT.O), maker of robotic vacuum cleaner Roomba, in an all-cash deal for about $1.7 billion, in the latest push by the world’s largest online retailer to expand its stable of smart home devices.Amazon will pay $61 per share, valuing iRobot at a premium of …

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Tesla shareholders broadly follow board recommendations at annual meeting

Aug 4 (Reuters) – Tesla Inc (TSLA.O) shareholders voted in line with board recommendations on most issues at the company’s annual meeting on Thursday, reelecting directors, approving a stock split and rejecting a number of proposals focused on environment and governance.Votes on three of 13 proposals did not follow board recommendations, according to preliminary tallies …

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Stephen King going to bat for U.S. gov’t in case against book publishing mega-merger

WASHINGTON, Aug 1 (Reuters) – The U.S. Justice Department asked a federal judge on Monday to block a $2.2 billion merger of two of the “Big Five” book publishers, Penguin Random House and Simon & Schuster, in a trial that is expected to feature testimony from horror writer Stephen King.”It’s real money for real people,” …

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Exclusive: Cassava Sciences faces U.S. criminal probe tied to Alzheimer’s drug, sources say

WASHINGTON, July 27 (Reuters) – The U.S. Justice Department has opened a criminal investigation into Cassava Sciences Inc (SAVA.O) involving whether the biotech company manipulated research results for its experimental Alzheimer’s drug, two people familiar with the inquiry said.The Justice Department personnel conducting the investigation into Austin, Texas-based Cassava specialize in examining whether companies or …

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Indexes drop after Walmart profit warning; Nasdaq down 2%

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comRegisterWalmart cuts profit forecast; news hits retailersMcDonald’s up as sales, profit top estimatesCoca-Cola up on forecast raiseIndexes down: Dow 0.8%, S&P 500 1.3%, Nasdaq 2%NEW YORK, July …

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China approves Genuine Biotech’s HIV drug for COVID patients

BEIJING, July 25 (Reuters) – China on Monday gave conditional approval to domestic firm Genuine Biotech’s Azvudine pill to treat certain adult patients with COVID-19, adding another oral treatment option against the coronavirus.The availability of effective COVID vaccines and treatments is crucial in laying the groundwork for China’s potential pivoting from its “dynamic COVID zero” …

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Amazon strikes $3.5 bln deal for One Medical in long march into U.S. healthcare

July 21 (Reuters) – Amazon.com Inc (AMZN.O) on Thursday agreed to buy primary care provider One Medical (ONEM.O) for $3.49 billion, expanding the e-commerce giant’s virtual healthcare and adding brick-and-mortar doctors’ offices for the first time.The all-cash deal would combine two relatively small players as Amazon continues a years-long march into U.S. healthcare, seeking to …

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