Health News Roundup: AstraZeneca to buy China's Gracell Biotechnologies in $1.2 billion deal; Bristol Myers to buy RayzeBio for $4.1 billion in targeted cancer therapy push and more

Bristol Myers had announced a $14 billion buyout of schizophrenia drug developer Karuna Therapeutics on Friday, nearly two months after newly-appointed CEO Chris Boerner officially took the helm at the drugmaker. AstraZeneca to buy China's Gracell Biotechnologies in $1.2 billion deal AstraZeneca said on Tuesday it will buy Gracell Biotechnologies for up to $1.2 billion as the Anglo-Swedish pharma company furthers its cell therapy ambitions and boosts its presence in China, the world's second-largest pharmaceuticals market.

Following is a summary of current health news briefs.

Bayer wins latest Roundup cancer trial, ending losing streak

Bayer has won a trial in a lawsuit brought by a California man who said he developed cancer from exposure to its Roundup weedkiller, ending what had been a five-trial losing streak for the company in trials over similar claims. The verdict was handed down on Friday by a jury in San Benito County, California Superior Court, Bayer announced. The company said in a statement that the verdict was "consistent with the evidence in this case that Roundup does not cause cancer and is not responsible for the plaintiff's illness."

Bristol Myers to buy RayzeBio for $4.1 billion in targeted cancer therapy push

Bristol Myers Squibb said on Tuesday it would buy RayzeBio for about $4.1 billion to bolster its cancer drug business, marking the second multi-billion dollar deal struck by the drugmaker in less than a week. Bristol Myers had announced a $14 billion buyout of schizophrenia drug developer Karuna Therapeutics on Friday, nearly two months after newly-appointed CEO Chris Boerner officially took the helm at the drugmaker.

AstraZeneca to buy China's Gracell Biotechnologies in $1.2 billion deal

AstraZeneca said on Tuesday it will buy Gracell Biotechnologies for up to $1.2 billion as the Anglo-Swedish pharma company furthers its cell therapy ambitions and boosts its presence in China, the world's second-largest pharmaceuticals market. The cash deal, which adds several experimental therapies to AstraZeneca's portfolio, values Gracell at $2 per ordinary share, or $10 per American Depository Share, of Gracell, representing a premium of 61.6% from its last close on Dec. 22.

(With inputs from agencies.)