A group led by Bidvest sought nearly a third of drugmaker Adcock's shares and launched a court action against a Chilean group's $1.2 billion bid.
Specialty drugmaker buys rights to Merck's Saphris drug; says will issue $1 billion in new long-term debt.
Preliminary takeover offer from Germany's Bayer AG values the company at about $2.4B.
Completes Pfizer's 2009 acquisition of rival Wyeth.
Will allocate capital to the share buyback over two years as well as to a strong and growing dividend and to "bolt-on" or relatively small acquisitions.
Settles thousands of lawsuits from individuals allegedly injured by the company's artificial hip implants.
Expected to rise 3%-6% a year over next five years as rich and developing nations spend more on medicine.
The Dutch chemicals maker will contribute its own drug manufacturing operations to the new company.
Clears the way for the deal to be completed by the end of the year.
German drugmaker's investment underlines the importance of the market for global drug firms.
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