Merck says still plans Cubist purchase, despite patent setback

A view of the Merck & Co. campus in Linden, New Jersey(Reuters) – Merck & Co on Tuesday said it will proceed with its planned $8.4 billion (5.3 billion pounds) purchase of Cubist Pharmaceuticals and still expects the deal to boost its long-term earnings, despite a court ruling that could speed the arrival of generic forms of Cubist's top-selling product. Merck late on Friday had announced plans to buy Cubist, whose flagship product is the widely used antibiotic Cubicin for skin infections. The deal would give the No. 2 U.S. drugmaker entry into the market for drugs that fight so-called superbugs. But U.S. …

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Apathy biggest bar to ending child slavery: Nobel prize winner

Nobel Peace Prize laureate Satyarthi speaks during a news conference in OsloBy Balazs Koranyi OSLO (Reuters) – Apathy is the biggest obstacle to eliminating forced child labor and the world needs more secular education to reduce intolerance, Nobel Peace Prize winner Kailash Satyarthi said on Tuesday. In Oslo, where he will receive the award on Wednesday, Satyarthi told Reuters the problem was not religion itself but people who hide behind it for economic and political gain. "Education brings tolerance to societies, which brings peace, global brotherhood and mutual respect for each other," Satyarthi, 60, from India, said. …

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Exclusive: Valeant to drop deal-making in near term to cut debt, boost stock

The head offices of Valeant Pharmaceuticals International Inc. are seen in Laval, QuebecBy Nadia Damouni, Olivia Oran and Rod Nickel NEW YORK/WINNIPEG (Reuters) – Valeant Pharmaceuticals International Inc is abandoning its growth-by-acquisitions strategy for the time being to try to reduce debt, boost its stock price and one day return to its traditional deal-making in a stronger position, people familiar with the matter told Reuters. After spending $19 billion on 40 acquisitions since 2008, the Canadian drugmaker is regrouping after failing last month to acquire Botox-maker Allergan Inc , they said. …

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