Receive Breaking News updates as they occur
(Reuters) - Drugmaker AbbVie Inc said it will buy Pharmacyclics Inc , the maker of blockbuster cancer drug Imbruvica, for about $21 billion to boost its oncology drugs pipeline. AbbVie will pay $261.25 per share in cash and stock, a 13 percent premium to Pharmacyclics stock's closing price on Wednesday on the Nasdaq. Pharmacyclics stockholders can elect cash, AbbVie stock or a combination, subject to proration, the company said in a statement. "Imbruvica is not only complementary to AbbVie's oncology pipeline, it has demonstrated strong clinical efficacy across a broad range of hematologic malignancies," AbbVie's Chief Executive, Richard Gonzalez, said in a statement.
BOSTON (AP) — Jurors in the Boston Marathon bombing trial spent the first day of testimony listening to heartbreaking stories from victims and watching graphic videos of blown-off limbs, bloody sidewalks and chaos after the 2013 attack.
BEIJING (AP) — China said Thursday it will boost defense spending by 10.1 percent, a smaller rise than last year but in line with large annual increases that have drawn concern among the country's neighbors over Beijing's military and territorial ambitions.