April 9 (Reuters) – Avon Products Inc said it named
Johnson & Johnson executive Sherilyn McCoy as its chief
executive officer, effective April 23.
The world’s largest direct seller of cosmetics, which
rejected a takeover bid from fragrance company Coty Inc last
week, had announced in December that it would look outside for a
new CEO and that current Chairman and CEO Andrea Jung would
become executive chairman.
(Reuters) – A raft of new medicines pushed spending on drugs modestly higher last year, but the gains were curbed by weak prescription use as Americans avoided doctor visits, according to a report released on Wednesday.
Overall U.S. spending on medicines reached $320 billion in 2011, up 3.7 percent from 2010, according to the report from IMS Health, a healthcare information and services company. The increase was just 0.5 percent on a per capita basis.
(Reuters) – U.S. antitrust regulators approved Express Scripts Inc’s (ESRX.O: Quote, Profile, Research, Stock Buzz) purchase of rival Medco Health Solutions Inc (MHS.N: Quote, Profile, Research, Stock Buzz), the Federal Trade Commission said on Monday, following a contentious eight-month review.
The roughly $29 billion deal, first announced in July, combines two of the three largest U.S. pharmacy benefit managers into the clear industry leader. Separately, the companies announced they completed the deal.
NEW YORK (Reuters) – Now that the Supreme Court has given a glimpse of how it will consider the healthcare overhaul, more investors in health insurance stocks are breathing easier about the eventual ruling.
Wall Street is less worried about the worst-case scenario for insurers: that the court strikes down the individual mandate requiring people buy insurance, but keeps in place provisions that could force insurers to cover more sick, high-cost Americans.
(Reuters) – A program to pay hospitals bonuses for hitting key performance measures, or dock them if they miss, failed to improve the health outcomes of patients, according to a large, long-term study.
The study could lead to a re-examination of financial incentives in healthcare, as policymakers seek ways to reward results rather than paying doctors and other providers for each service they provide, such as a diagnostic test.
(Reuters) – Express Scripts Inc (ESRX.O: Quote, Profile, Research, Stock Buzz) may close its $29 billion acquisition of Medco Health Solutions Inc (MHS.N: Quote, Profile, Research, Stock Buzz) as soon as next week, the U.S. pharmacy benefit managers said on Wednesday.
Medco’s shares rose 3.3 percent after the companies disclosed the new timelines in securities filings, as investors bet that the risk that U.S. antitrust regulators would block the deal was disappearing.
March 28 (Reuters) – A closely watched study of Merck & Co
Inc’s Vytorin cholesterol treatment was cleared to
continue by safety monitors, the drugmaker said on Wednesday.
Wall Street has been eagerly anticipating the interim report
for the 18,000-patient Improve-It study to see whether Vytorin
is helping improve heart outcomes, and thereby increase sales
for the franchise.
NEW YORK (Reuters) – At Aetna Inc’s headquarters in Hartford, Connecticut, about two dozen employees devote all their working hours to one task: making sure the health insurer is up to speed with President Barack Obama’s U.S. healthcare overhaul law.
On a part-time basis, more than 1,000 more employees are also working daily on activities tied to the overhaul as the No. 3 U.S. health insurer seeks to comply with the regulations and communicates the changes to its thousands of customers.
(Reuters) – Shares of Watson Pharmaceuticals Inc (WPI.N: Quote, Profile, Research, Stock Buzz) rose more than 5 percent on Thursday, extending their gains on optimism over benefits from a possible acquisition of rival generic drugmaker Actavis.
Reuters reported on Wednesday that New Jersey-based Watson was close to buying Swiss-based Actavis for around $7 billion. Shares of Watson jumped 8.8 percent on Wednesday after the report, which cited sources familiar with the matter. Spokesmen for Watson and Actavis declined to comment on the report on Wednesday.
Feb 28 (Reuters) – UnitedHealth Group Inc
plans to buy two Florida health plans to increase its U.S.
market-leading position in providing Medicare plans for the
Health insurers have been striking deals to boost their
Medicare operations as the baby boom generation born after World
War II becomes eligible for the government program, swelling its