Gilead Sciences Inc. is being roiled by executive departures a year after placing a big bet on the hot world of cancer immunotherapy with its purchase of Kite Pharma.
William Wrigley Jr. II, who helped orchestrate the sale of his family’s business to Mars Inc. in 2008, led a $65 million investment round for Surterra Wellness, a medical cannabis startup in Georgia with licenses to operate in Florida and Texas. The funding brings the total raised so far to $100 million, according to Surterra.
Linde AG shares fell the most in a year after the U.S. antitrust regulator raised an unexpected hurdle to the company’s $42 billion merger with Praxair Inc. that could derail the deal to create the world’s largest industrial gas producer.
U.S. buyout firm Gores Group is weighing a sale of immunotherapy company Therakos amid a boom in health care deals, according to people with knowledge of the matter. Gores is working with Credit Suisse Group AG on the sale, which may value Therakos at about $1 billion, the people said, asking not to be identified because the process is private. Therakos may attract interest from other buyout firms and health care companies, the people said.
The Dow Jones Industrial Average fell as DuPont Co. and Travelers Cos. slumped after reporting results, while a takeover offer for Mylan NV pushed the Nasdaq Composite Index higher.
Amgen Inc., the maker of cancer treatments and blood boosters to combat anemia, reported first-quarter profit that topped analysts’ estimates and raised its forecast for the year on stronger-than-expected drug sales. The shares rose in late trading.