NYT > DealBook
The major source of Merrill Lynch’s $6.2 billion cash infusion, announced Monday, was fairly unsurprising: Singapore. It is just the latest Asian country to invest in a troubled financial firm, following China’s decision to pour $5 billion into Morgan Stanley. Merrill’s other investor, however, was a bit of a dark horse. It was Davis Selected Advisors, a [...]
MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- Wyeth said Monday the Food and Drug Administration issued a second approvable letter for bazedoxifene, a selective estrogen receptor modulator, for the prevention of postmenopausal osteoporosis. Wyeth said the FDA requested further analysis concerning incidence of stroke and venous thrombotic events, and identified issues concerning data collection and reporting, and requested additional source documents.
NYT > DealBook
Goldman Sachs on Friday agreed to buy a $260.5 million stake in First Marblehead, shoring up the troubled student-loan company and sending its stock soaring. The investment bank also agreed to extend a $1 billion credit line to First Marblehead, providing a crucial source of financing for the company. Shares of First Marblehead surged 66.4 percent [...]