Walgreens confirmed Tuesday a new round of layoffs, the latest in a string of job cuts over the past year as the retail pharmacy giant aims to slash costs.
Lawmakers raising national security concerns and seeking to disconnect a major Chinese firm from U.S. pharmaceutical interests have rattled the biotech industry.
The decision to drop the deal came after U.S. District Judge Brian Martinotti refused to certify a class in the litigation, which also targets insulin drug makers Novo Nordisk and Sanofi.
Drugmakers make big profits in the U.S. But many pay taxes far below the 21% corporate tax rate. Pfizer's effective tax rate is so low it's getting a big refund despite booking $59 billion in revenue.
Moderna's patent lawsuit claiming Pfizer and BioNTech copied its COVID-19 vaccine technology will be put on hold while the U.S. Patent Office determines whether two of the three Moderna patents at issue are valid.