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Apr 26, 2012

Aetna profit misses analysts’ target, shares fall

By Lewis Krauskopf

(Reuters) – Health insurer Aetna Inc reported a lower-than-expected quarterly profit on Thursday as higher claim costs and administrative expenses weighed on results, and shares fell nearly 9 percent.

Aetna, whose shares had outperformed rivals this year, is the first major health insurer to miss earnings estimates for the first quarter, after WellPoint Inc and UnitedHealth Group Inc posted higher-than-expected profits and raised their full-year outlooks.

Apr 25, 2012

Watson to buy Actavis for at least $5.6 billion

By Lewis Krauskopf and Bill Berkrot

(Reuters) – Watson Pharmaceuticals Inc said on Wednesday it agreed to buy Actavis Group for at least 4.25 billion euros ($5.60 billion), in a deal that cements its status as one of the world’s biggest suppliers of generic drugs and expands its international presence.

Reuters first reported on March 21 that U.S.-based Watson was close to buying the Swiss drugmaker to help it compete more effectively against rivals Teva Pharmaceutical Industries and the Novartis unit Sandoz.

Apr 25, 2012

Watson to buy Actavis for at least 4.25 bln euros

April 25 (Reuters) – Watson Pharmaceuticals Inc said
on Wednesday it agreed to buy Actavis Group for at least 4.25
billion euros ($5.60 billion), in a deal that cements its status
as one of the world’s biggest suppliers of generic drugs and
expands its international presence.

Reuters first reported on March 21 that U.S.-based Watson
was close to buying the Swiss drugmaker to help it compete more
effectively against rivals Teva Pharmaceutical Industries
and the Novartis unit Sandoz.

Apr 25, 2012

WellPoint raises outlook as profit tops views

April 25 (Reuters) – WellPoint Inc reported a lower
quarterly profit as membership fell, but the results topped Wall
Street’s target, and the health insurer raised its outlook.

The No. 2 health insurer by market value also said the
performance of its Medicare business had improved after problems
with such plans dragged down results in 2011.

Apr 19, 2012

UnitedHealth raises outlook as profit rises

By Lewis Krauskopf

(Reuters) – UnitedHealth Group Inc (UNH.N: Quote, Profile, Research, Stock Buzz) posted a higher-than-expected 3 percent rise in quarterly profit on Thursday, benefiting from an increase in membership across its health plans and lower-than-expected medical claims.

The largest U.S. health insurer by market value also raised its full-year profit outlook, and its shares rose 1.2 percent.

Apr 18, 2012

SXC to buy Catalyst in $4.4 billion drug benefit deal

By Lewis Krauskopf

(Reuters) – SXC Health Solutions Corp said it will buy rival pharmacy benefit manager Catalyst Health Solutions Inc for $4.4 billion as it seeks to keep pace in the rapidly consolidating market for managing Americans’ prescriptions.

The deal comes only two weeks after Express Scripts Inc closed its $29 billion acquisition of Medco Health Solutions, creating the clear leader in the pharmacy benefit management (PBM) sector.

Apr 18, 2012

SXC to buy Catalyst in $4.4 bln deal

April 18 (Reuters) – SXC Health Solutions Corp
said it will buy rival pharmacy benefit manager
Catalyst Health Solutions Inc for $4.4 billion as it
seeks to keep pace in the rapidly consolidating market for
managing Americans’ prescriptions.

The deal comes only two weeks after Express Scripts Inc
closed its $29 billion acquisition of Medco Health
Solutions, creating the clear leader in the pharmacy benefit
management (PBM) sector.

Apr 10, 2012

Avon names J&J’s McCoy as CEO; shares fall

By Dhanya Skariachan and Lewis Krauskopf

(Reuters) – Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) named Johnson & Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) senior executive Sherilyn McCoy as its new CEO, presenting Coty Inc with another hurdle in its $10 billion bid for the world’s largest direct seller of cosmetics.

The appointment of McCoy, who lost the competition for J&J’s top job earlier this year, ended a four-month search for a fresh face to replace charismatic chairman and CEO Andrea Jung as Avon attempts to turn itself around. At J&J, McCoy was responsible for brands including Neutrogena and Lubriderm.

Apr 9, 2012

Avon names Johnson &Johnson’s Sherilyn McCoy as CEO

By Dhanya Skariachan and Lewis Krauskopf

(Reuters) – Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) said it named Johnson & Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) 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.

Apr 9, 2012

Avon names J&J exec Sherilyn McCoy as CEO

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.

    • About Lewis

      "I help coordinate coverage of healthcare companies for Reuters in the United States. I also cover health insurers, pharmacy benefit managers, generic drugmakers and pharmaceutical companies."
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