Caroline's Feed
Aug 28, 2015

Mylan shareholders back Perrigo takeover, tender offer up next

NEW YORK (Reuters) – Mylan NV (MYL.O: Quote, Profile, Research, Stock Buzz) shareholders on Friday backed the drugmaker’s hostile bid for Perrigo Co (PRGO.N: Quote, Profile, Research, Stock Buzz), allowing it to launch a tender offer for the company’s shares in the next few weeks.

Mylan said that it had the support from investors representing a majority of shares, passing the threshold it needed to go directly to Perrigo shareholders. The company is now looking for holders of more than 50 percent of Perrigo’s shares to take part in the tender offer.

Aug 25, 2015

Perrigo CEO expects shareholders to reject Mylan bid

NEW YORK (Reuters) – Perrigo Co Plc’s (PRGO.N: Quote, Profile, Research, Stock Buzz) chief executive expressed confidence on Tuesday that his company’s shareholders will reject rival generic drugmaker Mylan NV’s hostile takeover attempt, and said the offer is not close to what it would take to get a deal done.

Mylan (MYL.O: Quote, Profile, Research, Stock Buzz) shareholders are set to vote on Friday on whether the company should move forward with the Perrigo bid, whose value has declined with the recent market sell-off. If more than half vote “yes,” Mylan plans to take its cash and stock offer directly to Perrigo shareholders.

Aug 14, 2015

Proxy firm urges Mylan investors vote ‘no’; Paulson backs deal

NEW YORK, Aug 14 (Reuters) – ISS Proxy Advisory Services
recommended on Friday that its clients vote against Mylan NV’s
$30 billion hostile takeover of Perrigo Co,
even as Mylan’s largest hedge fund investor put its money behind
the combination.

Paulson & Co, which owns a 4.6 percent stake in Mylan, said
it voted for the generic drugmaker to pursue its tender offer
for Perrigo shares.

Aug 13, 2015

Mylan pursues minimum of Perrigo shareholder support for takeover

NEW YORK, Aug 13 (Reuters) – Mylan NV, which is
trying to buy drugmaker Perrigo Co through a $34
billion hostile tender offer, on Thursday lowered the percentage
of Perrigo shares it needs to control the company to just over
50 percent.

Generic drugmaker Mylan had been seeking more than 80 percent
of Perrigo’s shares through the tender offer while Perrigo has
refused to accept the takeover.

Aug 6, 2015

U.S. hospitals urge DOJ antitrust probe of Anthem-Cigna deal

NEW YORK, Aug 6 (Reuters) – U.S. hospitals urged antitrust
regulators this week to consider whether health insurer Anthem
Inc’s planned acquisition of rival Cigna Corp
would boost healthcare costs.

In a letter to the Department of Justice, the hospital
industry’s largest lobbying group said combining the No. 1 and
No. 5 health insurers threatens to reduce competition in 817
geographic markets serving 45 million consumers.

Aug 4, 2015

Aetna CEO says antitrust process underway in Humana deal

NEW YORK, Aug 4 (Reuters) – Aetna Inc Chief
Executive Mark Bertolini said on Tuesday the company is talking
to federal and state officials on its $37 billion acquisition of
Humana Inc and that there is enough insurance
competition for it to receive approval.

“The process is underway. We’ve engaged in conversations
with insurance commissioners, with governors, with Washington,”
Bertolini told investors during a conference call to announce
the company’s earnings.

Aug 4, 2015

Aetna profit beats as moderate medical costs help government plans

By Caroline Humer

(Reuters) – Aetna Inc (AET.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported a better-than-expected adjusted net profit for the second quarter and said “moderate” medical costs boosted the profitability of its government Medicare and Medicaid plans.

The third-largest U.S. health insurer, which is in the process of buying rival Humana Inc (HUM.N: Quote, Profile, Research, Stock Buzz), also raised its full-year forecast for adjusted net profit to at least $7.40 per share from $7.20-$7.40.

Jul 31, 2015

Express Scripts excludes 20 more drugs from 2016 coverage

NEW YORK, July 31 (Reuters) – Express Scripts Holding Corp
, the largest U.S. pharmacy benefit manager, said on
Friday that it would exclude about 20 new medications in 2016
from insurance coverage, including two diabetes drugs and a
weight loss drug.

For the past several years, Express Scripts has been
excluding medicines from its coverage list, a reflection of
concern about cost to its health insurers and corporate
customers, it says. The 2016 list includes 80 drugs or medical
items.

Jul 30, 2015

Health insurer Cigna says second-quarter medical costs stay low; profit beats

By Caroline Humer

(Reuters) – Health insurer Cigna Corp, which agreed last week to be bought by Anthem Inc for $47 billion, said on Thursday that medical services use was low in the second quarter, helping to keep costs in check and beat Wall Street profit estimates.

Cigna’s report of a continued low utilization trend backs up a growing industry view of this closely watched component of insurer profitability. Anthem made similar comments on Wednesday, when it reported better-than-expected quarterly earnings.

Jul 30, 2015

Health insurer Cigna says 2nd-qtr medical costs stay low; profit beats

July 30 (Reuters) – Health insurer Cigna Corp, which
agreed last week to be bought by Anthem Inc for $47 billion,
said on Thursday that medical services use was low in the second
quarter, helping to keep costs in check and beat Wall Street
profit estimates.

Cigna’s report of a continued low utilization trend backs up
a growing industry view of this closely watched component of
insurer profitability. Anthem made similar comments on
Wednesday, when it reported better-than-expected quarterly
earnings.