Author: Vitaliy Dadalyan

Celgene to buy Impact Biomedicines for up to $7 billion

U.S. biotech pharmaceutical firm Celgene Corp said on Sunday that it had agreed to acquire Impact Biomedicines for as much as $7 billion, subject to certain milestones associated with regulatory hurdles and sales performance. Celgene is interested in Impact Biomedicines' fedratinib, a kinase inhibitor that has shown promise as a potential treatment for a type of blood cancer called myelofibrosis, according to a statement put out jointly by both companies. "Myelofibrosis is a disease with high unmet medical need as the number of patients who are ineligible for or become resistant to existing therapy continues to increase," said Nadim Ahmed, Celgene's president of hematology and oncology.


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Apple should address youth phone addiction, say two large investors

Apple Inc shareholders Jana Partners and the California State Teachers' Retirement System are urging the smartphone maker to take steps to address what they say is a growing problem of young people getting addicted to Apple's iPhones, Jana partner Charles Penner said. Jana, a leading activist shareholder, and CalSTRS, one of the nation's largest public pension plans, delivered a letter to Apple on Saturday asking the company to consider developing software that would allow parents to limit children's phone use, the Wall Street Journal reported earlier on Sunday. Jana and CalSTRS also asked Apple to study the impact of excessive phone use on mental health, according to the publication.


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