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chief-executive

Anthem CEO expects U.S. regulatory decision in July

By Caroline Humer NEW YORK (Reuters) – Anthem Inc Chief Executive Officer Joseph Swedish said on Tuesday the health insurer was pushing for approval from antitrust regulators reviewing its $51 billion acquisition of Cigna Corp and expects to hear a decision in July. Anthem's bid for Cigna followed closely after Aetna Inc's proposed $34 billion purchase of Humana Inc last July. Swedish said antitrust regulators have asked many questions about how it and Cigna manage healthcare benefits for large employers, but that the overall review was moving forward as expected.

Valeant CEO Pearson remains hospitalized for pneumonia: Bloomberg

Valeant Pharmaceuticals International Inc Chief Executive J. Michael Pearson has been moved to another hospital where he is being treated for a severe case of pneumonia, a company spokeswoman told Bloomberg on Sunday. Elaine Andrecovich, a public relations manager at Morristown Medical Center, where Pearson initially was admitted for treatment on Friday, confirmed that Pearson is not at the hospital but declined to provide more details. Laurie Little, a Valeant spokeswoman, told Bloomberg that Pearson is still in a hospital but declined to say where.

Valeant says CEO J. Michael Pearson hospitalized with severe pneumonia

Valeant Pharmaceuticals International Inc Chief Executive J. Michael Pearson was hospitalized with a “severe case of pneumonia” on Friday and is receiving treatment, a company spokeswoman said. Pearson, 56, joined Valeant as CEO in September 2010 after a 23-year career at McKinsey & Company and became chairman of the board in 2010. Under Pearson's leadership, the company has come under U.S. government scrutiny for acquiring off-patent drugs and drastically hiking the prices.

Wall St. gains, buoyed by GE divestment plan

The S&P Industrials was up 1.3 percent as the best performing of the 10 major S&P sectors, paced by GE's gain. General Electric jumped 8.7 percent to $27.96 as the most active stock on the New York Stock Exchange, with more than 120 million shares changing hands. “I expect buybacks to continue because a lot of major stocks, including Apple, are undervalued,” Adam Sarhan, chief executive of Sarhan Capital in New York. GE will sell the bulk of its $30 billion real estate portfolio over the next two years as it returns to its industrial roots, with Blackstone and Wells Fargo snapping up most of its assets.