Bloomberg:
- Allergan , the maker of the Botox wrinkle treatment, offered to buy Inamed for $3.2 billion in cash and shares, beating a bid by Medicis Pharmacuticals.
- The US dollar is rising to a two-year high against the euro after the ZEW Center for European Economic Research said German investor confidence unexpectedly fell and a US retail sales report exceeded estimates.
- Johnson & Johnson and Guidant said today that they have entered into a revised merger agreement with a net value of $19 billion.
- Ben Bernanke, the White House adviser nominated to be Federal Reserve chairman, pledged to carry on Greenspan’s interest-rate policies and to move toward more openness if the Senate confirms him for the job.
- United Nations Secretary-General Kofi Annan has rescinded his dismissal of Joseph Stephanides, the only official fired for wrongdoing in the Iraq oil-for-food program, while continuing to say he violated UN rules.
- US Treasuries are rising after Ben Bernanke said long-run price stability is essential for the economy.
Wall Street Journal:
- Genzyme, Amgen and Genentech and other biotech drugmakers have built booming business in the market for so-called “orphan” drugs used to treat rare illnesses.
- The number of US home-purchase contracts signed last month declined 8% from a year earlier at 48 large real-estate brokers, citing a survey by the real-estate consulting company Real Trends.
- US tax burdens have increases as federal and local tax rates rise, citing recent surveys.
- US officials are trying to prevent unscrupulous dealers from selling cars damaged in Hurricanes Katrina or Rita.
- US congressional negotiators have approved additional funding for veterans medical care.
NY Times:
- Officials of Medicare said performance-based bonuses help increase the quality of care given to patients at hospitals.
- Microsoft plans to offer software that will give scientists and engineers a way to gain high-performance computing from their existing desktop computers.
CNBC:
- UTStarcom, the biggest supplier of wireless-telephone systems in China, was awarded a contract, potentially worth billions of dollars, to provide Internet-protocol television to the city of Shanghai.
Edaily:
- Samsung Electronics, Hynix Semiconductor and Toshiba Corp. will soon sign “large” contracts to supply Apple Computer with NAND flash memory chips.
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