Novartis CEO Joe Jimenez says the pharma giant easily has enough cash on hand to keep the dividends flowing to investors while reserving up to $6 billion for new bolt-on buyouts. In an interview with the Swiss newspaper Schweiz am Sonntag, which was picked up by Reuters, Jimenez says that the sweet spot for deals lies in the $2 billion to $4 billion arena--modest for a company of that size.
When MedImmune won approval for its quadrivalent nasal flu vaccine back in February 2012, it kicked off the battle to claim a share of the next-generation influenza immunization market. Now, almost two years later, its parent company AstraZeneca has the race underway in Europe, too.
AstraZeneca has gotten EU approval for its inhaled, four-in-one vaccine for children. Fluenz Tetra is among a new generation of treatments that are expected to carry premium prices and so boost the revenues companies will generate from a part of the market once considered a backwater.
Unilife is at it again. This time it's Novartis signing a deal with the injectable technology provider, adding to Unilife's impressive list of recent agreements with top pharmaceutical companies Sanofi, MedImmune and Hikma.
An award of $76 million may not sound like much in the big-dollar world of pharma, but for a branded drug company, it always feels good to win one against a generic drugmaker that has jumped the gun with a generic. That is how much a court says AstraZeneca should be paid by Apotex.
A day removed from elating investors with a $500 million cost-cutting plan, Forest Laboratories is reportedly fielding buyout interest from pharma giant AstraZeneca, discussing a deal that could soar past $15 billion.
AstraZeneca hammered the local economy in Loughborough, U.K., in 2011 when it closed down a 70-acre research campus and ditched 1,200 jobs in the process. Now developers are working to pick up the pieces, rebranding the drug development ghost town with hopes of luring new tenants while Big Pharma moves away from the model of secluded R&D.
Which drugmakers are likely to be the biggest dealmakers of 2014? The direct evidence is trickling in. Sanofi CEO Chris Viehbacher, for instance, says he's looking to spend up to €2 billion on deals next year, or about $2.7 billion.
AstraZeneca and Bristol-Myers grabbed a win in the EU today for one of the drugs sprung from their diabetes treatment partnership. But the recommended approval comes even as questions have bubbled up about the future of that relationship.
The ongoing shuffle-and-cut at AstraZeneca has two U.S. higher-ups headed for the exit. As the Washington Business Journal reports, the company's new specialty care unit will lose its top executive, Scott Carmer, and finance chief, Tim Gray.