June 10 Company Quick Takes: Roche's Spark takeover delayed again; plus Insys, China audits, Novavax and more
More delays for Roche's Spark acquisition, plus U.K. investigation
After at least three previous delays, Roche (SIX:ROG; OTCQX:RHHBY) has extended its deadline to acquire Spark Therapeutics Inc. (NASDAQ:ONCE) to July 31 from June 14 after both companies received requests from the FTC for more information. Additionally, the U.K. Competition and Markets Authority opened an investigation to determine whether it has jurisdiction over the acquisition, and if so, whether the acquisition will "result in a substantial lessening of competition in the UK." Spark lost $9.14 to $100.21 on Monday.
Opioid maker Insys files for bankruptcy
Insys Therapeutics Inc. (NASDAQ:INSY) plunged 51% to $0.67 Monday after filing for Chapter 11 bankruptcy to facilitate the sale of almost all its assets, which it expects to complete within 90 days. Last week, Insys agreed to pay $225 million and plead guilty to five counts of mail fraud to settle a federal investigation alleging the opioid manufacturer paid bribes and kickbacks to practitioners in exchange for increased prescriptions of painkiller Subsys...