Caroline's Feed
Sep 17, 2014

Humana CEO: New competition curbs Obamacare plan prices

BOSTON (Reuters) – New competition between health insurers offering so-called Obamacare plans in 2015 is having an impact on the pricing of such coverage, based on a first look at proposed insurance premiums, the head of Humana Inc said on Wednesday.

The state insurance exchanges offering coverage under the Affordable Care Act. President Barack Obama’s landmark healthcare law will begin enrolling customers for 2015 benefits in mid-November. Now in its second year, Obamacare is attracting health insurers to offer plans in more states after over 8 million people enrolled for coverage in 2014.

Sep 12, 2014

Janus Global Life Sciences manager sees more deals ahead

By Caroline Humer

(Reuters) – Andy Acker, the portfolio manager of the Janus Global Life Sciences Fund since 2007, says the healthcare merger craze of the past year has been driven by medical innovations and corporate cost savings and is not likely to abate soon.

The fund, which had $2.3 billion under management as of July 31, has gained 24 percent so far this year compared with a 13 percent increase in the NYSE Arca Pharmaceutical Index as well as in the Nasdaq composite index.

Aug 27, 2014

Insurers pay more tax on executive compensation under Obamacare: study

By Caroline Humer

(Reuters) – When Washington eliminated corporate tax deductions on health insurance executive compensation above $500,000 under President Barack Obama’s healthcare reform law in 2013, it generated more than $72 million in additional tax revenue for the U.S. government, a left-leaning think tank said on Wednesday.

The report from the Institute for Policy Studies examined executive compensation in the 2013 proxy filings from WellPoint Inc and UnitedHealth Group Inc, among others, and found that those companies paid more taxes than they would have if the law had not been passed.

Aug 27, 2014

Insurers pay more tax on executive comp under Obamacare: study

By Caroline Humer

(Reuters) – When Washington eliminated corporate tax deductions on health insurance executive compensation above $500,000 under President Barack Obama’s healthcare reform law in 2013, it generated more than $72 million in additional tax revenue for the U.S. government, a left-leaning think tank said on Wednesday.

The report from the Institute for Policy Studies examined executive compensation in the 2013 proxy filings from WellPoint Inc and UnitedHealth Group Inc, among others, and found that those companies paid more taxes than they would have if the law had not been passed.

Aug 22, 2014

Ackman, other shareholders ask Allergan to call special meeting

BOSTON/NEW YORK, Aug 22 (Reuters) – Investors owning 31
percent of Allergan shares have asked the Botox maker to call a
special shareholder meeting, activist shareholder William Ackman
said on Friday, giving the hedge fund manager a victory in his
fight to acquire the Botox maker.

Ackman, whose Pershing Square Capital Management is
Allergan’s largest shareholder, said 35 shareholders including
some of Allergan’s “longest-standing” and “largest” investors
handed in paperwork on Friday to compel Allergan to call the
meeting.

Aug 22, 2014

Ackman, other shareholders ask Allergan to call special meeting

BOSTON/NEW YORK, Aug 22 (Reuters) – Investors owning 31
percent of Allergan shares have asked the Botox maker to call a
special shareholder meeting, activist shareholder William Ackman
said on Friday, giving the hedge fund manager a victory in his
fight to acquire the Botox maker.

Ackman, whose Pershing Square Capital Management is
Allergan’s largest shareholder, said 35 shareholders including
some of Allergan’s “longest-standing” and “largest” investors
handed in paperwork on Friday to compel Allergan to call the
meeting.

Aug 20, 2014

As hunt for Allergan drags on, some Valeant owners have doubts

NEW YORK/BOSTON, Aug 20 (Reuters) – A few months ago, an
innovative partnership between Valeant Pharmaceuticals
and billionaire investor William Ackman to buy Botox maker
Allergan Inc looked like a blueprint for success. Now
some Valeant shareholders who backed the deal at its start are
questioning whether it will become reality.

A robust defense from California-based Allergan and
Valeant’s own weak second quarter financial performance have
pressured Valeant stock, which is down 6 percent this year after
doubling in 2013. Ackman, whose hedge fund Pershing Square
Capital Management owns nearly 10 percent of Allergan, is
digging in and told his own investors he is focused on getting a
deal done. Valeant also remains committed.

Aug 18, 2014

Community Health says data stolen in cyber attack from China

By Jim Finkle and Caroline Humer

(Reuters) – Community Health Systems Inc (CYH.N: Quote, Profile, Research, Stock Buzz), one of the biggest U.S. hospital groups, said on Monday it was the victim of a cyber attack from China, resulting in the theft of Social Security numbers and other personal data belonging to 4.5 million patients.

That would make the attack the largest of its type involving patient information since a U.S. Department of Health and Human Services website started tracking such breaches in 2009. The previous record, an attack on a Montana Department of Public Health server, was disclosed in June and affected about 1 million people.

Aug 1, 2014

Allergan sues Valeant, Ackman for alleged insider trading

By Svea Herbst-Bayliss and Caroline Humer

(Reuters) – Botox maker Allergan Inc (AGN.N: Quote, Profile, Research, Stock Buzz) on Friday accused rival Valeant Pharmaceuticals International (VRX.TO: Quote, Profile, Research, Stock Buzz) and billionaire investor William Ackman of violating securities laws by using insider information as they prepared a takeover bid for the drug company.

In a civil lawsuit filed in federal court in California, Allergan said Ackman’s Pershing Square Capital Management and Valeant “hatched” an “improper and illicit insider-trading scheme” that allowed the hedge fund to buy Allergan shares, knowing about Valeant’s planned $51 billion takeover bid.

Jul 30, 2014

Humana shares fall as U.S. health insurer cost worries grow

July 30 (Reuters) – U.S. health insurer Humana Inc
reported a lower profit owing to higher costs on Wednesday, as
mounting concerns about increased medical spending drove health
insurance industry shares lower for a second straight day.

Humana said its higher costs were related to medical
spending by new enrollees in the exchanges created under
President Barack Obama’s healthcare reform law, investments for
those exchanges and costly new hepatitis C drug treatments.