AstraZeneca Lynparza Trial Results 'Unprecedented'

AstraZeneca said phase 3 results from a trial of its Lynparza cancer treatment, developed with Merck & Co. (MRK), demonstrated that the drug nearly doubled the time patients lived without disease progression.

The British pharmaceutical company said the POLO trial of Lynparza for patients with pancreatic cancer showed that 22% remained free of disease progression after two years, compared with just 10% on a placebo.

AstraZeneca shares fell 0.9%.

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Infineon Technologies to Acquire Cypress Semiconductor Corp. in $10.1 Bln Deal

Infineon Technologies said it will acquire Cypress Semiconductor Corp. (CY) for an enterprise value of 9 billion euros ($10.1 billion).

The German company said the price, which is equal to $23.85 per Cypress share, represents a 46% premium to Cypress's unaffected 30-day volume-weighted average price during the period from April 15 to May 28.

Infineon shares fell 4.6%.

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Lonza to Carve out Specialty Ingredients Business

Lonza Group said it intends to proceed with the carve-out of its Specialty Ingredients segment, known as LSI.

The LSI business will remain fully owned by the biotechnology firm, but will be under independent management, Lonza said. The separation has already begun and should be completed by mid-year 2020.

The partial divestiture should allow the LSI segment to strengthen its microbial expertise in a competitive environment, the company said.

Lonza shares rose 0.7%.

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Total to Take Over Toshiba's LNG Portfolio

Total said Saturday that it signed an agreement to take over Toshiba Corp.'s (6502.TO) liquefied natural-gas portfolio.

The French company said it will receive a cash consideration from Toshiba of $800 million once the deal closes.

Under the terms of the transaction, Total will acquire all the shares of Toshiba America LNG for which the French company will pay $15 million.

Total shares fell 1.1%.

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Total Starts Up Second Solar-Power Plant in Japan

Total said it has switched on its second solar-power plant in Japan after two years of construction.

The 25-megawatt peak solar-power plant in Miyako will generate clean, reliable electricity for more than 8,000 Japanese households, the French oil-and-gas company said.

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Veolia Signs Water-Treatment Deal With AngloGold Ashanti in Ghana

Veolia Environnement said it has signed a contract with gold producer AngloGold Ashanti Ltd. (ANG.JO) for water treatment in Ghana.

Under the three-year agreement, Veolia's subsidiary Veolia Ghana Ltd. will operate and maintain the water-treatment plants at AngloGold Ashanti's Obuasi gold mine, it said.

Veolia shares fell 0.2%.

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(END) Dow Jones Newswires

June 03, 2019 04:33 ET (08:33 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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