Mergers and Acquisitions
Pfizer ($PFE) CEO Ian Read (photo) told the Financial Times that he hopes to divest the company's animal health and nutrition units by June 13.
Fresh off a disappointing decision to jerk its marketing application for Replagal, Shire bounced right back with its announcement that it has scooped up the Bay Area biotech FerroKin BioSciences in a $325 million deal. Shire is paying $100 million upfront for FerroKin, with the rest offered in potential milestones.
As far as most biotech investors are concerned, the most exciting work being done in the hepatitis C field involves next-gen treatments that can potentially quell the virus without the need for the troublesome interferon in the combo.
The FDA has officially denied AstraZeneca's petition to hold off generic versions of its antipsychotic drug Seroquel.
Pharma M&A activity is heating up, particularly among medium-sized companies, and shows signs of accelerating further, MarketWatch reports.
Sanofi ($SNY) CEO Chris Viehbacher (photo) managed to parlay one personal appearance into a half-dozen different headlines. Development strategies? Check. M&A interest? Check. Job creation?...
Bidding to up its game in the antibody business, the U.K.'s Abcam has snapped up California-based Epitomics for $155 million.
GlaxoSmithKline ($GSK) is steaming ahead in China. CEO Andrew Witty (photo) tells Bloomberg he plans to add "a few hundred" sales folks to back up products his company is introducing there. That's on top of 700 hires in 2011. And, Witty said, he'd like to augment his Chinese operations with some M&A, too.
Even though China is set to become the second-largest drug market by 2020, all is not rosy for its native drugmakers. A government push to drive down costs for healthcare end users is pressuring pharma companies that call that vast country home, with 5 of them issuing profit warnings in recent weeks.
Will a Big Pharma company swoop in to acquire Vivus ($VVUS), now that its obesity drug Qnexa has an FDA advisory panel's recommendation? Analysts say Bristol-Myers Squibb ($BMY), Merck ($MRK),...