Deal

Novartis has taken up its option to license antisense oligonucleotide TQJ230, triggering a $150 million payout that Akcea Therapeutics will share with Ionis Pharmaceuticals. The decision sets Novartis up to test the RNA-targeting drug in a phase 3 cardiovascular outcomes trial. TQJ230, formerly known as AKCEA-APO(a)-Lrx, is designed to lower levels of Lp(a) by inhibiting […]

The European Union blocked the rail deal between Alstom and Siemens on Wednesday, citing competition concerns. The merger proposal between the French and the German companies planned to create a European rail champion with revenues of about 15 billion euros ($17 billion). However, both firms have a large presence in Europe and there were concerns […]

U.S. electric vehicle (EV) maker Tesla Inc has held talks with China’s Tianjin Lishen to supply batteries for its new Shanghai factory, and two people with direct knowledge of the matter said the pair signed a preliminary agreement. The companies have yet to decide how large an order Tesla would place, and Lishen is still […]

PG&E Corp, owner of the biggest U.S. power utility by number of customers, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018. The company’s shares tumbled 55 percent in early trading. PG&E faces […]