UK Blocks Sainsbury’s Merger With Walmart Unit Asda

British regulators blocked Sainsbury’s $9.4 billion purchase of Walmart’s Asda unit on Thursday amid concerns the deal would have increased prices and reduced the quality and range of products available. For Walmart, it’s another setback as it tries to refocus its international operations on higher-growth markets.

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EU Court Cuts Big Pharma Fine Over Heart Drugs

While the French maker of medication to treat high blood pressure made illegal agreements with other pharmaceutical companies to keep a generic version of the drug off the market, the European General Court found abuse of dominant position hadn’t been proven and cut the fine by $117 million Wednesday.

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