Caroline's Feed
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

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.

Jul 29, 2014

Aetna says medical costs rose, insurer shares drop

By Caroline Humer

(Reuters) – Aetna Inc (AET.N: Quote, Profile, Research, Stock Buzz), the third-largest U.S. health insurer, reported a rise in medical costs on Tuesday, raising investor concerns that a long run of low growth in such costs might be ending and pushing shares in the industry lower.

U.S. insurer profits have benefited from several years of relatively low use of medical services by their members due to an economic downturn and higher out-of-pocket costs for patients.

Jul 24, 2014

Boston Scientific profit exceeds expectations as sales rise

July 24 (Reuters) – Boston Scientific Corp, which
makes medical equipment, on Thursday reported a slightly
higher-than-expected quarterly profit as improvements in its
heart device business helped drive revenue up 4 percent.

Boston Scientific said cardiac rhythm management sales,
which include implantable defibrillators and pacemakers, rose 4
percent to $497 million in the second quarter from a year
earlier after falling last quarter. Interventional cardiology,
which includes sales of stents, rose 1 percent to $528 million.

Jul 21, 2014

Allergan to cut 13 percent of jobs in fight against Valeant

By Ransdell Pierson and Caroline Humer

(Reuters) – Allergan Inc (AGN.N: Quote, Profile, Research, Stock Buzz), which is fighting off a hostile bid from Valeant Pharmaceuticals International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz), said on Monday that it would cut 13 percent of its global workforce as part of a restructuring meant to boost profits over the next six years.

Allergan said the cost reductions, which are part of its efforts to convince investors that it is a better value as a stand-alone company, would help increase annual earnings more than 20 percent between 2014 and 2019.

Jul 8, 2014

UnitedHealth: New doctor payment plan cut cancer care costs

July 8 (Reuters) – An experiment changing how U.S. cancer
doctors are compensated cut healthcare costs by a third, with no
discernible decline in patient health, according to a three-year
study by insurer UnitedHealth Group Inc and five medical
oncology groups.

Cancer treatment is one of the most expensive and fastest
growing categories of care in the United States. Oncologists and
insurers have been devising new incentives for doctors to
improve patient care while lowering costs.

Jul 1, 2014

Allergan readies defense as it fights Valeant for votes

NEW YORK and LOS ANGELES, July 1 (Reuters) – Allergan Inc
may take on debt to buy back its own shares as part of a
multi-faceted plan to thwart a $53 billion takeover bid by
Valeant Pharmaceuticals International Inc and
activist investor William Ackman.

The company is also considering making acquisitions of its
own and more spending cuts to increase shareholder value, Chief
Executive David Pyott said in an interview, outlining steps to
build support for Allergan, best known for its Botox
anti-wrinkle injections, to remain a standalone company.