Tuesday 28 July 2015

Business in brief: Roche aiming for Chugai takeover bid

Published 16/08/2014 | 02:30

Roche is in talks to buy the almost 40pc of Chugai Pharmaceuticals that it doesn't already own to gain full control of its Japanese partner for oncology and arthritis drugs
Roche is in talks to buy the almost 40pc of Chugai Pharmaceuticals that it doesn't already own to gain full control of its Japanese partner for oncology and arthritis drugs

Roche is in talks to buy the almost 40pc of Chugai Pharmaceuticals that it doesn't already own to gain full control of its Japanese partner for oncology and arthritis drugs.

Roche, the world's biggest maker of cancer drugs, plans to pay about $10bn (€7.6bn) to buy the remaining stake in Tokyo-based Chugai. The deal may be announced as early as next week, though no final decision has been made. (Bloomberg)

US prices slide

Wholesale prices in the US rose at a slower pace in July as fuel costs dropped by the most in eight months. The 0.1pc increase in the producer price index matched the median forecast of economists surveyed and followed a 0.4pc gain the prior month, a US Labour Department report showed.

The so-called core measure, which strips out volatile food and fuel, increased 0.2pc. Global growth has struggled to gain momentum as the US recovery plods on, Europe grapples with geopolitical tensions and China contends with a property slump and investment-spending slowdown. (Bloomberg)

Lehman payout

Unsecured creditors of Lehman Brothers' brokerage unit who have waited nearly six years to recoup their money will begin receiving an initial $4.62bn (€3.45bn) payout next month, the trustee liquidating the unit said on Friday.

James Giddens, the trustee, said distributions would begin on September 10 and cover 17pc of the $27.2bn of unsecured claims associated with the brokerage unit, Lehman Brothers. About $3.47bn will go to creditors whose claims have been deemed valid, and another $1.15bn will be set aside for claims that are still pending.

The payout follows distributions of $105bn to 111,000 former customers, who have been paid in full, and other creditors whose claims had higher priority. (Reuters)

Coca-Cola deal

Coca-Cola said it is making a cash payment of $2.15bn for a 16.7pc stake in Monster Beverage as the world's largest soda maker seeks to expand into faster-growing categories such as energy drinks.

Under the agreement, Coke will have two directors on Monster's board. Coke will transfer ownership of its worldwide energy business including brands like Full Throttle and Burn, to Monster. Monster will transfer its non-energy business, which includes Hansen's Natural Sodas and Peace Tea, to Coke. (Reuters)

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