Allergan shares surged in pre-market trading Tuesday after it agreed to a $63 billion takeover from biopharmaceutical group AbbVie. AbbVie will pay $188.24 each in cash and shares for Allergan's outstanding common stock, a 45% premium to the group's Monday closing price, in a deal that would value the Botox maker at around $63 billion.
For those who want their hearts broken, the story of Zohar and Gabi Ilinetsky, the parents of one-year-old twins, is a world to live inside. Zohar: twenty-seven, confident, and voluble, a construction project manager proud of his work.
Bristol-Myers Squibb and Celgene are both down more than 5% following the announcement. Otezla generated about $1.6 billion in revenue last fiscal year for Celgene. Bristol-Myers Squibb originally expected to close the deal in the third quarter, but is now says it is aiming for the end of 2019 or the beginning of 2020.
Not-for-profit hospital systems increasingly operate more like corporate titans on the stock exchanges than the charities they promote themselves to be. The big picture: As hospital systems have gotten larger, they have hosted more investor calls, released more financial data and attended more conferences and roadshows to attract banks and municipal debt buyers — all while health care spending continues to soar.
A landmark change will soon give more American workers control over their health-care coverage, but be warned: There are pitfalls. Beginning Jan. 1, 2020, companies can provide employees with tax-free dollars to purchase an individual policy rather than offer them a traditional group-health plan.