Pharma's payments to doctors are diminishing on both sides of the Atlantic. A new report in Britain finds that drugmakers forked over £38.5 million ($63.9 million) to doctors last year. That's slightly less than the 2012 total of £40 million.
Drugmakers aren't spending as much on speaking fees these days. Some companies--namely Pfizer and Eli Lilly--have slashed physician payments by more than half.
Last week, notorious proxy rebel Carl Icahn touted a victory for his activist investing strategy, taking credit for the management changes that ultimately drew Actavis as a buyer. And as it turns out, Forest Laboratories drew more than one interested buyer, with deal-hungry AstraZeneca making its own abortive pickup approach.
As Bloomberg reports, at least one analyst thinks that Valeant Pharmaceuticals, always ambitious and eager for a deal, might step in with a competing bid. Valeant is aiming to grow its way into Big Pharma, and a deal this size could really help.
After two proxy battles with Forest Labs and a settlement that warded off a third, longtime rebel investor Carl Icahn finally got his way Tuesday when Actavis announced its $25 billion buyout of the New York City-based company.
Actavis is extending its deal spree with another big buyout. The generics maker has agreed to buy Forest Laboratories for about $25 billion, in a bid to further build up its presence in branded drugs.
For Actavis, the deal would deliver a new set of drugs for marketing, part of its core M&A strategy as Watson first snapped up Actavis, took the Swiss company's name and then engineered a $5 billion buyout of Warner Chilcott, gaining an Irish domicile and the considerable tax advantages that go with it.
Forest will discontinue its original Namenda pill in August, pushing current patients onto Namenda XR--and hoping they won't bother to switch back when generics appear next April.
In the first full quarter under new chief Brent Saunders, Forest Laboratories raised its full-year guidance and swung back to profit after posting big losses in the year-ago quarter. But with a recent FDA thumbs-down for a new antipsychotic and patent expirations on other key drugs looming, the company still has some hurdles to clear.
Forest Laboratories, hungry for sales to replace its flailing antidepressant Lexapro, has sewn up a $2.9 billion deal for the specialty drugmaker Aptalis. It's the latest move in a wham-bam series of changes designed to get Forest back on a profitable track.