Abbott Laboratories (NYSE:ABT) is set to spin off AbbVie on the first of January, and the latter is due this week to sell more than $10 billion in bonds, in what would comprise one of the 10 biggest United States investment-grade debt offerings in several years, according to the Wall Street Journal. AbbVie will use the proceeds to pay a dividend to Abbot, which will in turn use the money to pay off its own debt.
Pfizer (NYSE:PFE) has postponed posting its third quarter results and webcast of a conference call with investment analysts because of the expected severe weather conditions from Hurricane Sandy. The events had been set for Tuesday at 10 a.m. Eastern Daylight Time; the webcast has been rescheduled for Thursday at 10 a.m. The call is to supply an update on Pfizer’s results to be issued earlier that day.
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Spectrum Pharmaceuticals (NASDAQ:SPPI) has chosen Joseph Turgeon as Senior Vice President of Sales & Commercial Operations in keeping with the company’s strategy to boost growth. Turgeon has quite a bit of pharma sales experience which includes his service of more than 20 years at Amgen with Spectrum Chief Operations Officer Ken Keller.
GlaxoSmithKline (NYSE:GSK) initiates Phase III trials of its mepolizumab antibody treatment for severe refractory asthma following an earlier evaluation that indicated it nearly cut in half the number of attacks in patients. Approximately 4 percent of asthma patients experience the severe form of the disease.
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