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Johnson & Johnson (NYSE:JNJ) and Amgen (NASDAQ:AMGN) are the makers of three anemia medications for which research indicates that the benefits have been overstated, while at the same time their potentially deadly side effects that include cancer and strokes, have been overlooked, says a report by The Washington Post. Meanwhile, the meds have brought a combined annual revenue of as much as $3 billion from Medicare alone.
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J.P. Morgan Chase & Co. (NYSE:JPM): The Blackstone Group (NYSE:BX) has been retained by Washington Mutual (WAMUQ.PK) for advice on its next move, which might be into a non-banking business, says Reuters. WMI Holdings, parent company of the latter, is said by sources to be looking into acquiring companies or starting businesses by spending “substantial cash” plus a $125 million credit facility, and the acquisition targets might not be financial services companies.
3M Co. (NYSE:MMM), via its New Ventures division, has made a stake in 7AC Technologies Inc., a developer of high efficiency heating, ventilation and air conditioning systems which utilize liquid desiccant technology to remove humidity from the air. Financials of the transaction were not divulged.
Microsoft Corporation (NASDAQ:MSFT) appoints Mark Penn as corporate vice president of strategic and special projects, according to The Seattle Times. Penn, who is currently chief executive of the public relations firm Burston-Marsteller, will concentrate on crucial consumer initiatives at Microsoft.
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