Tom Murphy

AP Business Writer

In this Tuesday, Oct. 25, 2016, file photo, Joaquin Duato attends the fourth annual Save the Children Illumination Gala at The Plaza Hotel in New York. Johnson & Johnson said late Thursday, Aug. 19, 2021, will replace Chairman and CEO Alex Gorsky with Duato starting next year.

J&J CEO to Step Down

He's being replaced with another veteran company executive.

This combination of file photos from left shows Warren Buffett, chairman and CEO of Berkshire Hathaway, on Sept. 19, 2017, in New York, Jeff Bezos, CEO of Amazon.com, on Sept. 24, 2013, in Seattle and JP Morgan Chase Chairman and CEO Jamie Dimon on July 12, 2013, in New York. A health care venture created in 2018 by the three corporate giants to attack soaring care costs will shutter only a couple years after launching. A company spokeswoman said Monday, Jan. 4, 2021, that Haven will end operations in February.

Amazon Bid to Address Soaring Health Costs is Over

Haven is quietly dissolving less than three years after it was formed.

This is an April 26, 2017, file photo showing Eli Lilly corporate headquarters in Indianapolis. Eli Lilly continues to back a potential COVID-19 treatment despite research showing that it may not work on hospitalized patients. The drugmaker said Tuesday, Oct. 27, 2020, that It remains confident that its drug may stop COVID from developing in other patients.

Lilly Stays Confident in Possible COVID Drug After Setback

The drugmaker maintains that its drug may stop COVID from developing in other patients.

A patient during a telemedicine video conference with Dr. Deborah Mulligan, Jan. 14, 2019, in Brooklyn.

Outbreak Prompts Push to Telemedicine

Americans have been slow to embrace virtual care, but that may be changing.

Purdue Begins Bankruptcy Journey

Initial proceedings begin today for the OxyContin maker that filed for bankruptcy and negotiated a potential multi-billion dollar settlement.

This April 26, 2017, file photo shows the Eli Lilly and Co. corporate headquarters in Indianapolis. Eli Lilly is offering a half-price version of its top-selling insulin Humalog as drugmakers face growing pressure to control prices. The drugmaker says it will introduce a version of the diabetes treatment called Insulin Lispro with a list price 50 percent lower than its current rate, about $275 per vial.

Eli Lilly to Sell Cheaper Insulin

The initial list price will be 50 percent lower than Humalog's current rate of about $275 per vial.

In this June 1, 2017, file photo, a sign stands on the campus of the Aetna headquarters in Hartford, Conn. Some major health insurers plan to take a little sting out of prescription drug prices by giving customers rebates at the pharmacy counter, and they could spark a trend. Aetna and UnitedHealthcare both say they will begin passing rebates they get from drugmakers along to some of their customers starting next year.

Drugmaker Rebates May Reach Consumers

Aetna and UnitedHealthcare both say they will begin passing rebates they get from drugmakers along to some customers starting next year.

In this June 30, 2011 file photo, a sign from of the Eli Lilly and Co corporate headquarters is pictured in Indianapolis. Eli Lilly will slash its global workforce by nearly 9 percent as the drugmaker closes some research sites and pushes to trim fixed costs. The Indianapolis company said Thursday, Sept. 7, 2017, it will cut about 3,500 positions, mostly through a voluntary retirement program in the United States. The insulin maker employed 41,240 people worldwide at the end of June.

Eli Lilly Cuts 3,500 Jobs

The company hopes to streamline by closing some facilities and moving production.

Pfizer Ap 57e929d4d6933

Pfizer Won't Split in Two

The maker of Viagra and the pain treatment Lyrica has been talking about a split for several years, thinking that two companies might grow faster than one.

Mylan Epi Pen Well 57c436adef1ac

Mylan Launching Cheaper EpiPen

The company, embroiled in criticism over its recent price hikes, has announced a generic version of the allergy treatment that is half the cost.

In this Monday, Nov. 23, 2015, file photo, a man enters Pfizer's world headquarters, in New York. Pfizer is buying biopharmaceutical company Medivation in a deal valued at about $14 billion. Medivation Inc.’s stock soared more than 19 percent in Monday, Aug. 22, 2016 premarket trading.

Pfizer Buying Medivation for $14B

The acquisition of the cancer drug company will add a pricey late-stage prostate cancer treatment to its portfolio.

Abbott Laboratories will buy St. Jude Medical Inc. in a cash-stock deal that aims to strengthen the medical device maker's share of the market for cardiovascular care

Abbott to Buy St. Jude for $25B

The acquisition will blend St. Jude's pacemaker and implantable defibrillator business with Abbott's focus on artery-opening stents and heart repair products.