Pescara Del Tronto was one of the hardest hit towns in Central Italy as an earthquake rattled the country overnight. Accumoli and Amatrice were also demolished. Italian media say 37 people have died but that number could grow as rescue workers are still working through the rubble. Pfizer (PFE) is buying part of AstraZeneca’s antibiotics business. The Wall Street Journal says the deal involves 3 already approved antibiotics and 2 drugs in clinical trials. Under the terms of the deal, Pfizer will pay AstraZeneca $550 million upfront plus an unconditional $175 million in January 2019. Depending on progress and success of the drugs, Pfizer will pay an additional $850 million plus royalties. La Z Boy (LZB) shares are plummeting overnight. The furniture maker reported a same store sales decline on lower foot traffic.
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