Celgene Corporation (NASDAQ:CELG) FDA approval for ABRAXANE to treat locally advanced or metastatic non-small cell lung cancer, together with with carboplatin, in patients who are not candidates for curative surgery or radiation therapy. Additional regulatory submissions were filed in Japan, Australia, and New Zealand in hopes for a decision in 2013. The approval is the second indication for ABRAXANE in the United States. In the United States, ABRAXANE was first approved in 2005 to treat metastatic breast cancer following failure of combination chemotherapy.
Sprint Nextel Corp. (NYSE:S): Softbank Corp. (SFTBF) has been conversing with three major Japanese banks to borrow $23 billion for fincancing a bid for Sprint Nextel (NYSE:S), sources claim, according to Reuters.
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CVS Caremark Corporation (NYSE:CVS): The Office of the Inspector General for the U.S. Department of Health and Human Services has begun an investigation regarding reports claiming CVS Caremark refilled prescriptions and submitted insurance claims without approval from patients, reports The Los Angeles Times, citing an official with knowledge of the situation.
Best Buy (NYSE:BBY) intends to match the prices of Internet competitors during the holidays, although it understates its concerns regarding shoppers browsing gadgets in stores only to purchase them online for a lower price. Furthermore, the electronics chain is preparing to offer free home delivery for merchandise that is out of stock in stores, sources claim, the Wall Street Journal reports.
Citigroup, Inc. (NYSE:C) Chief Executive Vikram Pandit hoped to brush aside calls for breaking up banks that were formerly considered too big to fail, stating that diversified financial institutions are “in line with what the clients need and how the market has evolved,” The Nikkei reported during its Friday morning edition. In an interview prior to traveling to Japan for the annual meetings of the International Monetary Fund and World Bank, Pandit also stated, “The U.S. banking system has become the right size in the past four or five years.”