WellPoint to buy Amerigroup for $4.5 billion in Medicaid play

Angela Braly, president and chief executive officer of WellPoint Inc., speaks at the Reuters Health Summit in New YorkCHICAGO (Reuters) – Health insurer WellPoint Inc will buy rival Amerigroup Corp for $4.46 billion, nearly doubling its Medicaid business in a major bet on the expansion of the U.S. government's health plan for the poor. The companies announced the deal on Monday, just a week and a half after the U.S. Supreme Court upheld President Barack Obama's healthcare law, which aims to extend coverage to more than 30 million uninsured Americans. Sources familiar with the deal said the high court decision helped serve as a catalyst to negotiations that took place over several months. …

QLT’s workforce cut, CEO quits after shareholder coup

TORONTO (Reuters) – Charting a new course after a boardroom coup, Canadian biotech company QLT Inc outlined plans on Monday to cut 68 percent of its workforce and find a new chief executive. The company’s new board, elected following a proxy battle in June, plans to sell or spin off parts of the company, return $100 million in capital to shareholders and focus on developing a treatment for several eye diseases that can cause blindness. …

Forest hires search firm, rejects Icahn nominees

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange(Reuters) – Forest Laboratories Inc said on Monday its board had hired executive search firm Spencer Stuart to find a successor to its 84-year-old chief executive, Howard Solomon, and urged shareholders to reject director nominees put forth by activist investor Carl Icahn. The U.S. drugmaker said its independent directors are leading the search process, which includes the consideration of internal and external candidates. The company said it had a deep management bench, which included David Solomon, who is the son of its long-time CEO and was promoted in November 2010. …

FDA focuses on training to stem painkiller abuse

WASHINGTON (Reuters) – Health regulators are hoping more education for doctors and patients can stem the growing tide of prescription painkiller abuse in the United States. The Food and Drug Administration is mandating that all companies that make long-acting or extended-release opioid medicines – including painkillers like oxycodone and methadone – fund training programs for doctors that help them decide when to prescribe such medicines, and how to monitor patients who take them. …

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