Big Pharma Looks Beyond Drugs to Smartphone Apps

Pharmaceutical companies looking for fresh sources of profit are increasingly investing in a range of health care innovations that aren't drugs at all, from smartphone apps and educational websites to social media platforms and wireless devices, reports Ernst & Young.

McKesson Buys US Oncology for $2.16 Billion

US Oncology is affiliated with more than 1,300 community-based oncologists, providing a range of services from research to clinical tools to office support. Together, the combined organization will focus on providing comprehensive offerings in cancer care.

Celgene to Buy Abraxis for $2.9 Billion

Biotechnology company Celgene (CELG) announced it is buying Abraxis BioScience (ABII) for $2.9 billion in cash and stock. With this acquisition, Ceglene is expanding its portfolio of cancer treatments.