Your Daily Brief For October 24th

Your Daily Brief For October 24th

about 1 month ago1 min

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Your Brief Summary

In today’s Daily Brief, we'll look at how pharmaceutical giant Roche is spending $7 billion on drugmaker Telavant.

"Roche, like many pharmaceutical companies, made more money than usual during the pandemic and its aftershock. But now that those lingering sales are winding down, the firm needs to find new experimental medicines to keep the cash flowing in – and fast."

Key takeaways:

  • Swiss pharmaceutical giant Roche announced that it’s buying smaller firm Telavant for just over $7 billion
  • Chevron followed in rival oil firm Exxon’s footprints with a massive deal of its own, announcing plans to acquire Hess for $60 billion


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