Largest financial penalty against a generic maker for Federal Food, Drug and Cosmetic Act violations.

The days of the world's biggest drug makers enjoying rich premiums for their medicines in the U.S. market may be coming to an end.

(Reuters) - Health officials in India have revoked Johnson & Johnson's license to make cosmetics at a plant outside Mumbai after they discovered the company had used an unauthorized process for sterilizing its baby powder.

J&J said in a statement on Friday that it is in "ongoing discussions" with Indian regulators.

"We understand their concerns and are diligently working with them to resolve the issue," Peggy Ballman, a J&J spokeswoman, said in a statement, adding that there were no consumer complaints or adverse events reported due to its use of the process.

Canada's biggest publicly traded drugmaker, raised its full-year adjusted profit forecast and said it would seek acquisitions in markets avoided by its stiffest competition.

Health insurer raises 2013 view, but 2014 uncertain.

Generic competition hurts demand for its Singulair asthma drug and the stronger dollar hits overseas sales.

Stronger dollar hurts overseas revenue of the largest U.S. drugmaker.

Purchase of U.S.-based Conceptus aims to underpin Bayer's position as the world's largest women's healthcare provider.

Talks on possible $13 billion acquisition by Canada's largest listed drugmaker of U.S-Swiss generic drugmaker reportedly stalled.

Second civil fraud lawsuit filed against Swiss drugmaker accusing it of paying multimillion-dollar kickbacks to doctors in exchange for prescribing its drugs.