Financial News

NEW YORK — Beauty company Revlon announced on Thursday first-quarter sales results, which benefited from higher net sales of Revlon color cosmetics and Revlon ColorSilk hair color, as well as the inclusion of sales from SinfulColors.

VALLEY FORGE, Pa. — AmerisourceBergen on Thursday reported revenue of $20.1 billion, up 1.6%, for its second quarter ended March 31.

TORONTO — Canadian pharmacy retailer Shoppers Drug Mart announced on Thursday a boost in first-quarter sales and earnings, driven, in part, by gains at the front end.

PLEASANTON, Calif. — Recent events, which have driven Wall Street analysts to speculate that Safeway is a buyout target, are not interrelated, Safeway chairman and CEO Steve Burd assured analysts Thursday morning during the grocer's first-quarter conference call.

NEW YORK — GlaxoSmithKline said its offer to buy Human Genome Sciences was "full and fair" Wednesday after HGS turned it down last week, according to published reports.

Reuters reported that GSK's $13-per-share, $2.6 billion offer for HGS would give the former full control of Benlysta (belimumab), the first new drug approved by the Food and Drug Administration for lupus in more than half a century. The two companies developed the drug together under a partnership, and the drug received approval in March 2011.

THOUSAND OAKS, Calif. — Biotech drug maker Amgen is buying a pharmaceutical company based in Turkey, the companies said Wednesday.

Amgen said it would acquire 95.6% of Istanbul-based Mustafa Nevzat for $700 million in an all-cash deal, saying the purchase would allow it to expand in Turkey and the surrounding region. The company, also known as MN, is a major supplier of injectable drugs in Turkey and, increasingly, an exporter of medicines.

NEW YORK — Watson Pharmaceuticals is buying Actavis Group for $5.9 billion, according to published reports.

SAN DIEGO — Anglo-Swedish drug maker AstraZeneca will buy a San Diego-based biotech company for $1.26 billion, the two said Monday.