Financial News

LAKE FOREST, Ill. — Specialty generic pharmaceutical company Akorn confirmed it is in talks to be possibly be acquired by Fresenius Kabi, a subsidiary of Fresenius SE & Co. KGaA.

NEW HAVEN, Conn. — Biohaven Pharmaceutical filed a Form S-1 with the Securities and Exchange Commission, hoping to obtain up to $100 million in proceeds from its initial public offering. The company plans to list its shares under the ticker symbol BHVN on the New York Stock Exchange.

JERUSALEM — Teva Pharmaceuticals is considering a sale of its women’s health unit, which could earn the company $2 billion in proceeds, according to multiple news reports.

Teva is reportedly working with Morgan Stanley to find a buyer and could begin the process as early as May, reported Israeli newspaper Globes.

Teva acquired the women’s health division from Merck KGaA’s Merck Serono in 2010.

MEMPHIS, Tenn. — More than one prominent investor has recently approached Fred’s Pharmacy with the intention of investing money in the operator of 601 locations in 16 states, according to the New York Post.

The Post posits the cash infusion from one or more sources would help Fred’s pay for and successfully operate the 865 divested Rite Aid stores it pledged to purchase for $950 million, which is a likely a closing condition should the Federal Trade Commission approve the proposed $9.7 billion Walgreens Boots Alliance-Rite Aid merger.

MEMPHIS, Tenn. — Fred’s Pharmacy has set forth a major initiative intended to promote growth in 2017 in its front store, retail pharmacy and specialty operations, CEO Michael K. Bloom stated Thursday during the company’s 2016 fiscal fourth-quarter earnings conference call.

In the front store, Fred’s is expecting top-line growth, led by the rollout of beer and wine and a major upgrade to its cosmetics assortment.

ISSAQUAH, Wash. — Costco Wholesale reported net sales of $11.64 billion for the month of March — the five weeks ended April 2, 2017 — an increase of 9% from $10.71 billion during the similar period last year. This year’s total reflects one additional sales day due to the timing of Easter, which positively impacted net and comparable sales by an estimated 1% to 1.5%.

MEMPHIS, TENN. — Fred’s Pharmacy recorded a net loss of approximately $22.5 million or $0.60 per share for its 2016 fiscal fourth quarter ended Jan.

DUBLIN, Ohio — Cardinal Health has entered into exclusive talks and is near a deal to buy Medtronic’s medical supplies unit for approximately $6 billion, according to several published reports. The Medtronic division sells syringes, surgical instruments and much more.

Cardinal Health's current medical products business has been a bright spot for the company, on track to reach mid- to high-single-digit revenue growth, reported Reuters.