Boston Scientific sat out most rounds of med tech M&A the past few years, but the device giant might be charting a different course in 2015. The company is reportedly close to buying Endo International's AMS medical device unit in a deal estimated at $2 billion.
Endo Pharmaceutical's investigational Belbuca buccal film strip for severe chronic pain has been accepted for review by the FDA, marking a win for the BioErodible MucoAdhesive technology to deliver drugs across mucosal surfaces like the inside of the cheek. And BEMA platform developer BioDelivery Sciences receives a $10 million milestone payment.
Endo found the magic number in its negotiations with Auxilium Pharmaceuticals, boosting its offer to $2.6 billion and finally convincing its target to abandon plans for a tax-saving deal.
Auxilium Pharmaceuticals has no intention of accepting a multibillion-dollar bid from Endo, the company said, preferring to stay the course and pull off an en-vogue tax inversion as it looks to cut costs.
Just a few days after Auxilium Pharmaceuticals put out the word that pressure on the sales side was forcing a restructuring and the elimination of about 200 jobs, Endo has come along with a proposal to buy out the company for about $2.2 billion worth of cash and stock.
More than two years ago the pain specialist Endo Pharmaceuticals stepped up with a $180 million deal to license rights to BEMA Buprenorphine, a pain therapy that had been repackaged using delivery tech from BioDelivery Sciences International, even though it had just failed the primary endpoint in a critical Phase III study. Today, Endo put out the word that its gamble had paid off, saying that a new Phase III trial hit the goal line on reduction in pain compared to a placebo, putting the treatment on a path to the FDA for a marketing decision.
In its fourth trip to the FDA, Endo's testosterone-boosting Aveed finally won over regulators, but as the clamor over risks tied to "low-T" treatments reaches deafening volume, the in-transition drugmaker may be late to a profitable party.
Impax Laboratories is tapping Durect Corporation for its mid-stage transdermal patch Eladur, which is designed to ease the pain associated with shingles. For exclusive rights to the delivery tech, Impax agreed to pay up to $63 million to Durect when all is said and done.
Endo Health Solutions is extending its makeover with a bolt-on deal, trading $105 million up front for NuPathe to get its hands on the migraine patch Zecuity.
Endo Health Solutions said in June it would "explore strategic options" for its HealthTronics business, and now the drug and device outfit is selling off a segment of the business, part of a long-term effort to pare down and get back to revenue growth.