(Reuters) – Pharmaceutical group GlaxoSmithKline Plc (GSK.L) is said to be in discussions with chipmaker Qualcomm Inc (QCOM.O) to form a joint venture as GSK looks for ways to develop medical technology, Bloomberg reported on Wednesday.
The talks are at an initial stage and nothing has been decided, people familiar with matter told Bloomberg. (bloom.bg/1UbZkSK)
GSK declined to comment, while Qualcomm was not immediately available for comments.
Earlier this month, Qualcomm said it was collaborating with Novartis AG (NOVN.VX) (NVS.N) to develop an inhaler for patients suffering from chronic obstructive pulmonary disease.
(Reporting by Amrutha Penumudi in Bengaluru; Editing by Maju Samuel)
Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.
The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.
Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.