ratiopharm to become the hub for Teva's European growth strategy
The ratiopharm Group gets a new owner. Subsequent to an extensive bidding process, the Israel-based company Teva Pharmaceutical Industries Ltd. is going to acquire the Ulm based company from Merckle Group's VEM asset management. The agreed enterprise value is € 3.625 billion.
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Johnson & Johnson Reports Full-Year and Fourth-Quarter 2008 Results
Johnson & Johnson has announced sales for the year 2008 of $63.7 billion, an increase of 4.3% over 2007. Operational growth was 1.9% with currency contributing 2.4%. Domestic sales decreased 0.4%, while international sales increased 9.7%, reflecting operational growth of 4.6% and a positive currency impact of 5.1%. Worldwide sales in the fourth quarter of 2008 were $15.2 billion, a decrease of 4.9% as compared to the fourth quarter of 2007.
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Johnson & Johnson Announces Definitive Agreement to Acquire Omrix
Johnson & Johnson (NYSE: JNJ) and Omrix Biopharmaceuticals, Inc. (NASDAQ: OMRI), a fully integrated biopharmaceutical company that develops and markets biosurgical and immunotherapy products, have announced a definitive agreement whereby Omrix will be acquired for approximately $438 million in a cash tender offer.
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Alpharma Responds To Unsolicited Proposal By King Pharmaceuticals, Inc.
Alpharma, Inc. (NYSE: ALO), a global specialty pharmaceutical company, confirmed that it received an unsolicited, non-binding proposal from King Pharmaceuticals, Inc. (NYSE: KG) to acquire all of the outstanding shares of Alpharma for $33.00 per share in cash. Alpharma said that proposal was identical in all material respects to two prior proposals made privately by King to the company.
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King Proposes Acquisition of Alpharma for $33 Per Share in Cash
King Pharmaceuticals, Inc. (NYSE: KG) announced that it has submitted to the Board of Directors of Alpharma Inc. (NYSE: ALO) a proposal to acquire all of the outstanding shares of common stock of Alpharma for $33.00 per share in cash. The proposal is not conditioned on financing.
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Teva Reports Second Quarter 2008 Results - Record Quarterly Sales of $2,823 Million
Net sales for the second quarter of 2008 increased 18 percent to $2,823 million, compared to $2,386 million in the second quarter of 2007. Net income for the second quarter of 2008 totaled $539 million, compared to $515 million for the same period of 2007 (up 5 percent), while diluted earnings per share increased to $0.65 from $0.63 (up 3 percent).
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Grindeks profit reaches 5 million lats in the first half of 2008
The financial statements of the JSC Grindeks for the first half of the year 2008, submitted to Riga Stock Exchange, certify that the Group of Grindeks has operated successfully during the first six months of this year. The net profit during the reporting period is 5 million lats, which is by 43% more than in the first half of 2007.
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The ratiopharm Group gets a new owner. Subsequent to an extensive bidding process, the Israel-based company Teva Pharmaceutical Industries Ltd. is going to acquire the Ulm based company from Merckle Group's VEM asset management. The agreed enterprise value is € 3.625 billion. 
The financial statements of the JSC Grindeks for the first half of the year 2008, submitted to Riga Stock Exchange, certify that the Group of Grindeks has operated successfully during the first six months of this year. The net profit during the reporting period is 5 million lats, which is by 43% more than in the first half of 2007.