- Tanzanian student was not stripped, paraded naked: K'taka Home Minister
- National Herald case: Sonia, Rahul Gandhi move SC challenging Delhi HC order
- Budget session of Parliament to begin on Feb 23; Jaitley hopeful of GST
- Suspended UP chief engineer Yadav Singh arrested, Congress, BJP say probe links
- Will stand by Pakistan if it acts on terror: Rajnath Singh
Pfizer to buy NextWave for up to $700 million
Pfizer said Monday it will buy NextWave Pharmaceuticals, a company that makes a liquid attention deficit hyperactivity disorder drug, in a deal worth as much as $700 million. The Food and Drug Administration approved NextWave's drug Quillivant XR in September, and the once-per-day drug is expected to be in pharmacies in January. Pfizer made a $20 million option payment to Cupertino, California-based NextWave in the second quarter to establish a merger agreement. The company will pay $255 million when the deal closes, and agreed to pay NextWave another $425 million based on sales milestones. Pfizer said about 9.5% of children have received a diagnosis of ADHD at some point, and around 4% of adults have the condition.
EU sees Spanish banks capitalised by mid-2013
Spain's banks, hit by a property crash that has prompted a government-forced clean-up of toxic real estate assets, should be fully capitalised by mid-2013, the European Union's antitrust chief said on Monday. The whole Spanish financial system will be fully capitalised by mid-2013 at the latest, EU competition commissioner Joaquin Almunia said in the text of a speech to be delivered at a conference in Barcelona. He said EU regulators would clear restructuring plans for nationalised lenders Bankia, Catalunya Caixa, Nova Caixa Galicia and Banco de Valencia by the end of November. Almunia also said he expected a recapitalisation plan from Banco Popular by the end of this month.
China Mobile's Q3 net up 1.3%
China Mobile, the world's biggest mobile operator by subscribers, posted a 1.3% gain in third-quarter net profit, beating estimates slightly, after luring new users to its network with cheap handsets and cutting phone call rates. China Mobile, which has more than two times as many subscribers as the population of the US, earned 31.1 billion yuan ($4.9 billion) in July-to-September, according to a Reuters based on nine-month profit data released on Monday. That compares with an average forecast of 30.5 billion yuan in a Reuters poll of nine analysts and a net profit of 30.7 billion yuan a year earlier.
- Outcome on Section 377 will depend on composition of the Constitution bench
- Inadequate staff, payment delays undermine MGNREGA in drought-hit Mahabubnagar
- ICDS, the primary scheme targeting malnutrition, needs to be broadened
- Rohith's death must focus attention on the rites of exclusion in the university
- Telescope: State in the bedroom
- The economy is best served by lowering interest rates and blocking protectionism