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(Bloomberg) -- Pfizer Inc. is planning an initial public offering of its consumer-health joint venture with GlaxoSmithKline Plc in three to four years as the two drugmakers turn back toward the lab.Pfizer Chief Executive Officer Albert Bourla discussed the time frame for the IPO at the J.P. Morgan Healthcare Conference in San Francisco on Tuesday. The plan provides New York-based Pfizer with a clear exit strategy, he said.The world’s biggest supplier of over-the-counter medicines will be one of the industry’s only standalones, facing off with companies integrated into larger entities such as Johnson & Johnson, Bayer AG and Procter & Gamble Co.With annual sales of about $13 billion, it brings under one roof Advil painkillers, Tums stomach tablets, Sensodyne toothpaste and Nicorette gum.Both Glaxo, the majority owner, and Pfizer, which has about a third of the business, are looking to focus on drug development. Recent shifts in the health-care business and...
Retirement may come sooner than expected, leaving most Americans unhappy about their preparations, a new study says....
An executive of a San Francisco Bay Area solar energy company pleaded guilty Tuesday to participating in what federal prosecutors said was a massive Ponzi scheme that defrauded investors of $1 billion. Ryan Guidry, 43, of Pleasant Hill entered pleas involving the scam and money laundering. Guidry was vice president of operations for DC Solar, based in Benicia, northeast of San Francisco....
After a spectacular Tuesday rally, it’s a mixed start to the day as investors look for direction. A Bitcoin move through to $9,000 would deliver a boost....
(Bloomberg) -- A Delta Air Lines Inc. jet dumped fuel over schools in Los Angeles, causing skin irritations and breathing problems for 67 children and adults, after an engine problem forced the plane to turn around shortly after takeoff.The injuries were minor and nobody was taken to hospitals, the Los Angeles County Fire Department said in a statement Tuesday. The LACoFD said it responded to four area schools and evaluated 44 patients, while the Los Angeles Fire Department evaluated 16 patients at two schools and Downey Fire Department checked on seven cases at a pre-school.Students and adults “may have been sprayed by fuel or inhaled fumes,” the Los Angeles Unified School District said in a statement about the health effects. The Federal Aviation Administration said it was “thoroughly investigating” the incident.“There are special fuel-dumping procedures for aircraft operating into and out of any major U.S. airport,” the FAA said in a...
KUALA LUMPUR/SYDNEY (Reuters) - Malaysia Airlines said on Wednesday it has suspended deliveries of 25 Boeing Co 737 MAX jets, citing the plane's delayed return to service since it was grounded last year following two fatal crashes. The decision represents another setback for Boeing, which on Tuesday reported its worst annual net orders in decades, along with its lowest number of plane deliveries in 11 years, as the grounding of the 737 MAX saw it fall far behind main competitor Airbus SE. "In view of the production stoppage and the delayed return to service of the 737-MAX, Malaysia Airlines has suspended the delivery of its orders," the airline said in an email, without saying when it wanted the deliveries to resume....
KUALA LUMPUR/SYDNEY (Reuters) - Malaysia Airlines said on Wednesday it has suspended deliveries of 25 Boeing Co 737 MAX jets, citing the plane's delayed return to service since it was grounded last year following two fatal crashes. The decision represents another setback for Boeing, which on Tuesday reported its worst annual net orders in decades, along with its lowest number of plane deliveries in 11 years, as the grounding of the 737 MAX saw it fall far behind main competitor Airbus SE. "In view of the production stoppage and the delayed return to service of the 737-MAX, Malaysia Airlines has suspended the delivery of its orders," the airline said in an email, without saying when it wanted the deliveries to resume....
