Pharmaceutical Industry

New Jersey continues to set the pace in the biotechnology sector of the economy, according to a new report.

TRENTON, N.J. (AP) -- Generic drug giant Teva formally offered to buy fellow drugmaker Mylan for about $40.1 billion in cash and stock on Tuesday, despite Mylan's cold shoulder and the certainty the proposed acquisition will bring intense scrutiny by antitrust regulators.

BEIJING (AP) -- Drug maker GlaxoSmithKline was fined $492 million on Friday for bribing doctors in China in the biggest such penalty ever imposed by a Chinese court.

A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double second-quarter profit, improve its profit forecast and top analysts' expectations.

CHICAGO (AP) -- A costly drug given mostly to premature babies is at the center of a clash between the manufacturer and the nation's leading pediatrician's group, which recommends scaling back use of the medicine.

WASHINGTON (AP) -- When many of us have a medical appointment we're concerned about our finances: how much will we owe out-of-pocket? What's our co-pay? But next time, you may also want to ask your doctors about their financial situation.

The board of AstraZeneca on Monday rejected the improved $119 billion takeover offer from U.S. drugmaker Pfizer, a decision that caused a sharp slide in the U.K. company's share price as many investors think it effectively brings an end to the protracted and increasingly bitter takeover saga.

New Jersey has received $900,000 as a result of its participation in separate global settlements resolving civil allegations against two pharmaceutical manufacturers and criminal charges against one of them.