The German manufacturer of a notorious drug that caused thousands of babies to be born with shortened arms and legs, or no limbs at all, issued its first ever apology 50 years after pulling the drug off the market.

Medical device maker Medtronic Inc on Tuesday reported higher quarterly earnings as sales in its smaller divisions outweighed continued weakness in its key cardiac rhythm management unit.

Insurer Aetna Inc said it will buy rival Coventry Health Care Inc for $5.6 billion in cash and stock to boost its share of government business and benefit from U.S. healthcare reforms.

Billionaire investor Carl Icahn has secured one of the four board seats he sought at drugmaker Forest Laboratories Inc, according to an early tally of shareholder votes at the company's annual meeting on Wednesday.

British drugmaker GlaxoSmithKline PLC will sell the rights to several of its products in Australia to Aspen Pharmacare Holdings Ltd. for nearly $270 million (£172 million).

The Obama administration this week will try to encourage reluctant U.S. states to move forward with health insurance exchanges amid fears that time is running out for states to act on a reform provision meant to extend coverage to millions of low-to-moderate income uninsured Americans.

(Reuters) - Pfizer Inc said it would pay about $250 million to gain access to exclusive global rights for the over-the-counter version of British drugmaker AstraZeneca Plc's heartburn pill Nexium.

AstraZeneca, which will continue to manufacture and market the prescription version of Nexium, would be eligible to get milestone and royalty payments from Pfizer based on the launch and sales of the drug.

AstraZeneca would also supply Pfizer with the over-the-counter version of Nexium, upon marketing approval.