Reuters Health News Summary
Following is a summary of current health news briefs.
Eli Lilly to buy bowel disease drug developer Morphic for $3.2 billion
Eli Lilly will acquire Morphic Holding for $3.2 billion in cash, the companies said on Monday, giving the U.S. drugmaker access to an experimental drug for types of inflammatory bowel diseases. Shares of drug developer Morphic surged 76% to $56.15 premarket on Lilly's offer of $57 per share, which represents a 79% premium to stock's last closing price.
Grifols says founding family, Brookfield looking to delist drugmaker
The Grifols family and Canadian fund Brookfield have agreed to launch a joint takeover bid for Spanish drugmaker Grifols with the intent to delist it, the companies said in regulatory filings on Monday. Grifols said its board held an extraordinary meeting over the weekend to study a preliminary offer presented by Brookfield and the founding family, which has a nearly 30% stake.
South Korea drops plan to suspend licenses of striking doctors
South Korea said on Monday it would drop a plan to suspend the licenses of striking trainee doctors, offering a concession to end a months-long walkout prompted by the government's decision to increase medical school admissions. Thousands of trainee doctors, which include medical interns and resident doctors, walked off the job in February, forcing major hospitals to cut back non-emergency services and turn back patients at emergency rooms.
UK's competition regulator clears $3.1 billion Thermo Fisher Scientific-Olink deal
UK's competition regulator said on Monday it has cleared U.S. medical equipment maker Thermo Fisher Scientific's $3.1 billion deal to buy Swedish biotech firm Olink Holding AB.
Abbott faces trial over claims that preterm infant formula caused dangerous disease
Similac baby formula maker Abbott is expected to face a trial on Monday over claims that its formula for preterm infants used in neonatal intensive care units causes a potentially deadly bowel disease, the second trial out of hundreds of similar lawsuits in the United States. Lawyers for the company and for Illinois resident Margo Gill will make their opening statements to jurors in St. Louis, Missouri, and the trial is expected to last most of the rest of the month. Gill alleges in the lawsuit that her premature infant child developed necrotizing enterocolitis (NEC) as a result of being fed Abbott's products for premature babies.
