Allergan’s supplemental biologics license application (sBLA) for a Botox label expansion to idiopathic overactive bladder (OAB) may receive a final decision this month. The application has a PDUFA date in January, according to estimates by Bloomberg Industries, which are based on the company’s submission in both the U.S. Click here to continue reading.
By Kelly Bit Hedge funds on average climbed 1.6 percent in 2012 through November, lagging global stocks by almost tenfold as managers were whipsawed by market reactions to the economic and political events, according to Bloomberg data. Click here to continue reading.
Larry Jordan Rowe, a partner at Ropes & Gray LLP, spoke with Sabrina Willmer about public pension investments in companies like gunmaker Freedom Group. California State Teachers’ Retirement System, one investor in the Cerberus Capital Management funds that own Freedom Group, has said it is reviewing its commitment to the firm. Click here to continue reading. To [...]
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IntercontinentalExchange Inc.’s deal to buy NYSE Euronext is pressuring CME Group Inc., the world’s largest operator of futures exchanges, to mount a response. ICE is purchasing NYSE Euronext in an $8.2 billion transaction announced yesterday to expand into European derivatives as well as U.S. stocks and options. Even before the bid, Atlanta-based ICE was forecast to [...]
U.K. banks, under pressure from the Bank of England to increase capital, may do exactly what the central bank doesn’t want them to do: Cut lending. While trimming or delaying dividends, selling assets, reducing pay or raising equity would also bolster capital, banks such as government-owned Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc may [...]
Bank of America Corp. bankers helped form the reinsurer Alterra Capital Holdings Ltd. in 2010, advising Moore Bacon’s Max Capital Group Ltd. on its $1.5 billion combination with Harbor Point Ltd. that became Alterra. Their firm also worked with Max Capital Group in 2009 on a $1 billion merger offer from IPC Holdings Ltd. that IPC’s shareholders ultimately rejected. Click here to continue reading [...]
■WHAT TO WATCH: Spain will struggle to meet its 2012 deficit target, Deputy Budget Minister Marta Fernandez Curras said. German consumer confidence will fall for a second month in January, GfK said today. S&P cut Cyprus’s long-term debt rating for the third time in five months. U.K. consumer confidence fell in December from an 18-month high. Danish GDP figures may confirm [...]
A firefighter in Allentown, Pennsylvania, which plans to lease its water system to meet retirement costs, left last year with an annual pension of $99,289, more than double what state law says was due. Most municipalities in the state, home to a quarter of U.S. public pension plans, show similar disregard for local statutes, said James [...]
Deutsche Bank AG and Natixis are selling more structured notes tied to carbon permits, or emission allowances, as the market is more than twice as volatile this year as the Euro Stoxx 50 Index. Click here to continue reading.