J&J, Bayer agree to $775M payout to settle Xarelto litigation; Biogen launches $5B buyback in the wake of a disaster; Hookipa pitches $86M IPO
→ Right on deadline this morning we learned that J&J and Bayer have reached a deal to settle their outstanding litigation on Xarelto with a lump $775 million settlement. The two companies were accused of failing to warn patients properly of the bleeding risk associated with the blood thinner. The legal war has been ongoing for 5 years.
→ With its share price beaten down brutally at the end of last week following the collapse of its Phase III Alzheimer’s work, a shaken Biogen is countering its misfortunes with a $5 billion buyback campaign.
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