Japan's Otsuka to buy Astex Pharma for about $900 million: Nikkei
(Reuters) - Japanese drugmaker Otsuka Holdings Co will buy Astex Pharmaceuticals Inc for about 90 billion yen ($900 million) to tap the cancer drugs the U.S. company is developing, the Nikkei said. (link.reuters.com/hed82v)
Shares of Astex, which has a market capitalization of $634.2 million as of Tuesday close, rose as much as 41 percent to a nine-year high of $9.39 on the Nasdaq.
Astex, whose only approved drug, Dacogen, treats a blood disorder called myelodysplastic syndromes, is developing drugs to treat prostate, lung and ovarian cancer.
Otsuka and Astex were not immediately available for comments.
($1 = 99.5350 Japanese yen)
(Reporting By Vrinda Manocha in Bangalore; Editing by Don Sebastian)
WASHINGTON - A bipartisan budget deal announced in the U.S. Congress on Tuesday, though modest in its spending cuts, would end three years of impasse and fiscal instability in Washington that culminated in October with a partial government shutdown.
WASHINGTON - U.S. small business sentiment bounced back from a seven-month low in November, with owners setting their sights on creating more jobs and expanding operations.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.