By Anna Yukhananov WASHINGTON (Reuters) – The largest-ever outbreak of Ebola could drain billions of dollars from economies in West Africa by the end of next year if the epidemic is not contained, the World Bank said in an analysis on Wednesday. The global development lender predicted that slow containment of the deadly virus in Guinea, Liberia and Sierra Leone could lead to broader regional contagion, particularly through tourism and trade. Under the worst-case scenario, Guinea’s economic growth could be reduced by 2.3 percentage points next year while Sierra Leone’s growth would be cut by 8. … …read more
(Reuters) – Auxilium Pharmaceuticals Inc said it would not withdraw its offer to buy Canadian eye drug maker QLT Inc and adopted a poison pill, a day after receiving an unsolicited buyout offer from Endo International Plc. Endo on Tuesday offered to buy Auxilium for $2.2 billion in cash and stock and Chief Executive Rajiv De Silva clarified the offer pertained to only Auxilium. Auxilium’s shares rose about 44 percent to $31 in premarket trading on Wednesday, above Endo’s offer of $28.10. Endo’s U.S.-listed shares rose about 5 percent. … …read more
(Reuters) – Auxilium Pharmaceuticals Inc adopted a poison pill with a 15 percent trigger, a day after an unsolicited $2.2 billion buyout offer from Endo International Plc. Poison pills, or shareholder rights plans, are designed to stop hostile takeover attempts by triggering the issuance of new shares, which dilutes the holdings of all investors if any one exceeds a set threshold. Auxilium said on Wednesday its board will review Endo’s proposal, but it would not modify or withdraw its bid for Canadian eye drug maker QLT Inc. … …read more
By Jeff Mason and James Harding Giahyue ATLANTA/MONROVIA (Reuters) – President Barack Obama on Tuesday called West Africa’s deadly Ebola outbreak a looming threat to global security and announced a major expansion of the U.S. role in trying to halt its spread, including deployment of 3,000 troops to the region. “The reality is that this epidemic is going to get worse before it gets better,” Obama said at the Atlanta headquarters of the U.S. Centers for Disease Control and Prevention (CDC). “But, right now, the world still has an opportunity to save countless lives. …
PARIS (Reuters) – French drugmaker Sanofi announced on Wednesday a partnership with U.S.-based MyoKardia to develop therapies for patients with genetic heart diseases. The collaboration includes up to $200 million in equity investments, milestone payments, and research and development services through 2018, Sanofi said in a statement. MyoKardia was founded in 2012 and is funded by healthcare investor Third Rock Ventures. (Reporting by James Regan; Editing by Blaise Robinson) …read more
TRENTON, N.J. (AP) — When Superstorm Sandy slammed into the Northeast nearly two years ago, hospitals found themselves dealing with surges in patients, lost power supplies and employees who couldn’t get to work — problems that a new federal report finds they were not prepared to handle.
WASHINGTON (AP) — President Barack Obama declared Tuesday that the Ebola epidemic in West Africa could threaten security around the world, and he ordered 3,000 U.S. military personnel to the region in emergency aid muscle for a crisis spiraling out of control.
By Jeff Mason and James Harding Giahyue ATLANTA/MONROVIA (Reuters) – President Barack Obama will send 3,000 troops to West Africa to build treatment clinics and train health workers to try to halt the spread of the deadly Ebola virus, U.S. officials said on Tuesday, as the United States widens its response to the crisis. The U.S. plan, a dramatic increase from Washington’s initial response last week, won praise from aid workers and officials in the region. …
GENEVA (AP) — The number of Ebola cases could start doubling every three weeks in West Africa, the World Health Organization said Tuesday, warning that the outbreak will cost nearly $1 billion to contain so it does not turn into a “human catastrophe.”
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