Wells Fargo to raise $ 10 billion to fund acquisition deal of Wachovia

Wells Fargo & Co. has informed that it will sell at least $10 billion worth of common stock in a public offering, to fund its acquisition of east-coast lender Wachovia.

The San Francisco-based bank previously said it would raise up to $20bn of capital, primarily common equity, to fund the $15bn all-stock acquisition.

Wells Fargo expects to complete buyout of Charlotte, North Carolina-based Wachovia by fiscal end. The purchase would more than double Wells Fargo's size, creating a bank with $1.4 trillion of assets and 6,653 banking offices across the country.

Consumption of fish wards off kidney damage in diabetics

According to a recent stud eating at least two servings of fish each week wards of decline of kidneys in diabetics. The study was conducted on more than 22,000 adults in England.

The study was published in the American Journal of Kidney Diseases, the official journal of the National Kidney Foundation. It mentions that fish consumption lowers abnormal levels of protein in the urine in people with diabetes.

Folic Acid and Vitamin B6, B12 Supplements do not offer Lowered Cancer Risk

Researchers at Brigham and Women's Hospital and Harvard Medical School have found that supplements of folic acid, vitamins B6 and B12 neither reduce nor increase the risk of breast or other invasive cancers in women.

Experimental Drug Burns Fat Even on a High-Fat Diet

A team of French scientists has said that they have discovered a fat burning drug that "tricks the body into burning off fat," even while on a high fat diet. The drug, called SRT1720 has so far only been successfully tested on mice by a team of scientists at the University of Louis Pasteur.

Mylan gets nod to market UCB’s epilepsy drug

Mylan Inc., the biggest US maker of generic drugs, has informed that it has received approval to market a generic version of Levetiracetam Tablets.

The company said that Food and Drug Administration has approved its application to market generic versions of the drug, also called Levetiracetam, in 250 milligram, 500 mg and 750 mg tablets.

Levetiracetam Tablets are the generic version of UCB Pharma's Keppra, which is indicated as adjunctive therapy in the treatment of partial onset seizures in adults and children 4 years of age and older with epilepsy.

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