said Tuesday that it will take control of selling the impotence drug Cialis by paying $2.1 billion for the Bothell, Wash., biotech company
, its marketing partner for the treatment.
Lilly's takeover price of $32 a share represents an 18% premium over Icos' closing price Monday. After the announcement, Icos' stock jumped $4.53, or 16.7%, to $31.66, while Lilly slipped 30 cents to $57.36.
said Tuesday it has received U.S. approval to begin selling Januvia, a new type of diabetes drug that's more versatile than existing blood-sugar control medications.
The Food and Drug Administration approved Januvia, a once-a-day tablet, as a single therapy or in combination with two different types of diabetes pills. Shares of Merck were down 7 cents at $43.69.
A bidding skirmish for
has ended with the company agreeing to be acquired by
Under the agreement, Genzyme will acquire AnorMed for $13.50 a share, or around $580 million. AnorMed made the announcement as
said it wouldn't raise its offer for the company. Genzyme's stock was 0.5% lower to $68.28, and AnorMed's shares fell 3% to $13.38. Millennium rose 1.7% to $10.40.
Johnson & Johnson
reported better-than-expected earnings and revenue in the third quarter, thanks to sales growth across a number of its segments. Overall, the company reported sales of $13.3 billion for the quarter, a gain of nearly 8% year over year. Earnings reached $2.8 billion, or 94 cents a share. Excluding charges, the company earned $2.9 billion, or 98 cents a share.
Analysts were expecting earnings of 93 cents a share on $13.1 billion in revenue. J&J was higher by 2.1% at $66.30.
sank 13.8% to $15.62 after the stock was downgraded to underperform from market-perform by Piper Jaffray analyst Caroline Stewart.
Among other health stocks falling were
, down 2.8% to $15.94,
, sinking 7% to $2.65,
, 1.3% lower to $15.54, and
, down 1.4% to $15.73.
shares rose 2.8% to $16.02,
stock was up 2.3% to $15.48, shares of
gained 18% to $1.48, and
shares were up more than 23% to $4.59.