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$IPG's 1Q16 operating profit was $21MM vs. $8MM in 1Q15. The company said that during the quarter, it continued to combine growth with effective expense discipline. $IPG achieved leverage on its expenses per base payroll, benefits in tax, and office and general expense, resulting in operating GM expansion of 70 BP in 1Q16.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.