Shire confirms in talks with AbbVie on takeover bid

Vitamins made by Shire are displayed at a chemist's in northwest London(Reuters) – Shire Plc on Friday confirmed it has held a meeting with U.S. drugmaker AbbVie Inc to discuss AbbVie's takeover bid for the Dublin-based maker of drugs for rare diseases. Shire, in a release, said it would provide a further update "when appropriate." It added there can be no certainty that any firm offer will be made nor as to the terms of any such offer. The meeting, between Shire Chief Executive Flemming Ornskov and AbbVie CEO Richard Gonzalez, took place Thursday in New York, according to a source familiar with the matter. AbbVie, which is based in suburban Chicago and makes top-selling arthritis drug Humira and other medicines, has offered $51 billion for Shire, hoping the deal would cut its tax bill and diversify its product line.

U.S. Medicaid enrollment nears 7 million since Obamacare rollout

Applications are seen at a rally held by supporters of the Affordable Care Act in Jackson, MississippiNew enrollments in Obamacare's Medicaid expansion and other healthcare programs for the poor have reached 6.7 million people since the launch of President Barack Obama's healthcare reforms last year, the administration said on Friday. The figures, which include state Medicaid plans that existed before Obamacare and the Children's Health Insurance Program, show enrollment climbing by 920,000 people during May, the latest month for which data is available. Eight million Americans have also signed up for private health insurance through new state-based Obamacare insurance marketplaces. The Centers for Medicare and Medicaid Services (CMS) did not break out the number of people enrolled in states that have expanded Medicaid under the Affordable Care Act, which makes benefits available to most low-income people with annual earnings of up to 133 percent of the federal poverty level.

TSX ends flat after jobs report but gold miners surge

A sign board displaying Toronto Stock Exchange stock information is seen in TorontoBy John Tilak TORONTO (Reuters) – Canada's main stock index was little changed on Friday as a rally in shares of gold miners helped overcome worries about the health of the labor market spurred by a sluggish jobs report. Government data showed that the Canadian economy unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1 percent from 7.0 percent in May, underlining how employment growth has stalled despite a recovery in the United States. The Toronto stock market appeared to be consolidating after concerns over whether Canadian and U.S. corporations will be able to meet earnings expectations had weighed on investor sentiment in recent days. “There is nothing fundamental that has changed here, at least not yet,” said Marcus Xu, portfolio manager at MY Capital Management Corp in Vancouver.

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