US-based Mylan yesterday offered to buy fellow drugmaker Perrigo whose headquarters are in Dublin for $28.9bn (€26.73bn), a deal that would create a powerhouse for generic medicine.

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AbbVie, the drugmaker buying Dublin-based Shire plc to lower its tax rate, reported profit that beat analysts’ estimates on strong sales of the arthritis drug, Humira.

Mylan is buying Abbott Laboratories’ generic-drug business and forming a new company that will be incorporated in the Netherlands, giving the new operation a lower- cost tax base.

Minister for Finance Michael Noonan has ruled out the introduction of a minimum effective corporate tax rate.

US stocks rose last night after a strong gain in retail spending suggested that consumers could be getting more confident about the US economy. Bank stocks rose broadly after Citigroup delivered a strong earnings report.

America’s Food and Drug Administration has approved a new weight-loss drug from Vivus that many doctors consider the most effective therapy in a new generation of anti-obesity pills designed to help patients safely shed pounds.

Nestlé, the world’s biggest food group, is closing in on a deal to buy Pfizer’s infant nutrition business for up to $10bn (€7.6bn) to boost its business in China and extend its lead in the world of formula milk for babies, sources familiar with the matter said yesterday.

Abbott Laboratories has reported earnings that beat analysts’ estimates and raised its 2012 forecast as sales jumped more than expected for its top product.

Cork: DPS Engineering, the Irish project management and process engineering group with offices in Dublin, Cork, Holland and Singapore has expanded its operations into North America with the acquisition of the Massachusetts engineering group, Biometics LLP.

ABBOTT Laboratories — one of the longest-serving foreign multinational companies with a presence in the state — has warned that further Government healthcare spending cuts could hamper its financial position here, after seeing pre-tax profits in its Irish operations fall by €9 million last year.

THE Irish Medicines Board has issued an urgent safety notice about the potential danger of various sexual enhancement products marketed as dietary supplements by a US manufacturer.

A burst of corporate deal-making is giving investors a shot of confidence about the US economy.

Natural Resources Minister Eamon Ryan will today aim to forge new links with 'green tech' firms based in Silicon Valley in the US.

ELAN has taken legal action against a US company over its alleged misuse of a drug patent currently owned by the Irish pharmaceutical firm.

Fine Gael will use Dáil time today to raise concerns about the rising unemployment rate – the highest in seven years.

More than 20,000 people have lost their jobs since Employment Minister Michael Martin came to office in 2004, it was claimed today.

One of the largest US multinationals in Ireland has announced 500 job cuts at its Galway plant.

One of the largest US multinationals in Ireland is expected to announce job cuts at its Irish operations later today.

The medical and pharmaceutical firm Abbott Laboratories has announced plans to sell part of its diagnostic division, which operates plants in Longford and Sligo.

Pharmaceuticals giant Astra Zeneca is this week expected to announce a deal to acquire smaller rival Cambridge Antibody Technology, it was reported today.

SIX people taking a drug for the treatment of rheumatoid arthritis have died in Ireland, according to the Irish Medicines Board (IMB).

Wall Street managed a moderate advance today as investors concentrated on solid second-quarter earnings and shrugged off higher oil prices and a drop in US petroleum reserves.

Confident US investors, buoyed by positive earnings reports from the financial sector and bullish corporate outlooks for 2005, returned to the market today after weeks of uncertainty, pushing stocks sharply higher.

Nearly £3bn (€4.2bn) was wiped off the value of pharmaceuticals giant AstraZeneca today after a US safety official raised concern over one of its key drugs.

A storm of protest has erupted in the US over a company’s decision to increase the US price of an important Aids drug more than fourfold.

An unexpected rise in jobless claims unnerved Wall Street yesterday, sending stocks sharply lower on worries the market’s recent rally might have come too far, too fast.

An unexpected rise in jobless claims unnerved Wall Street today, sending stocks sharply lower on worries the market’s recent rally might have come too far, too fast.

A US-based manufacturer of medical products is creating 150 jobs in Co Roscommon, it was today announced.

Abbott Laboratories is to create 700 new jobs in plants in Galway and Cavan.

Ireland is the only country in Europe with a higher proportion of overweight men than women, research today revealed.

A spate of disappointments in the pharmaceutical and biotech sectors triggered a broad sell-off on Wall Street today, sending the Dow Jones industrials, Nasdaq composite and Standard & Poor’s 500 indexes to their lowest closes of the year.

The exodus of blue-chip clients from Arthur Andersen is continuing, sparking increased concern that the end might be near for the US auditing giant.