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Bayer to buy Norway-based Algeta for $2.4 billion
OSLO, Norway — German chemical and pharmaceutical giant Bayer plans to buy Norwegian drug maker Algeta for $2.4 billion, Algeta confirmed Tuesday.
Responding to earlier media reports, the Norway-based maker of cancer drugs said Bayer would acquire it for 336 krone per share, equal to about $55.05. The company's share price increased to 349.40 krone, or $57.21 per share, in late-afternoon trading Tuesday on the Oslo Stock Exchange.
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Hospira announces investor conference
LAKE FOREST, Ill. — Generic drug maker Hospira will have its investor conference next week, the company said Tuesday.
The drug maker, based in the Chicago area, will have the investor day at its headquarters on Dec. 5. Hospira specializes in manufacturing injectable generic drugs, including biosimilars for the European market.
The event will include slide presentations, and the company will stream it via audio webcast at its investors website, hospirainvestor.com.