Last month, names like Sanofi, Pfizer, Abbott and Takeda were flying around as potential suitors for Mexico-based Representaciones e Investigaciones Medicas, aka Rimsa. But it's Teva that's emerged victorious in the field.
C.R. Bard will acquire the outstanding shares of a Japan-based joint venture that it has been invested in for about 40 years with Kobayashi Pharmaceutical, Medicon. The New Jersey-based med tech will acquire Kobayashi's 50% ownership stake for a total of 11.2 billion yen ($93.2 million) doled out over the next 10 years. The purchase is expected to give Bard more of a foothold in the Japanese market.
Now-Ireland's Medtronic said in a filing with the SEC that it is paying $500 million in U.S. income taxes on $9.8 billion in cash and investments that it is moving to the country from overseas subsidiaries. The move sets the stage for more M&A activity. After all, the U.S. is the capital of med tech innovation (if not manufacturing).
If Horizon wants to make any headway in its hostile pursuit of Depomed, it's going to have to call a pair of shareholder meetings. First, though, its target's shareholders have to provide consent for those meetings--something proxy advisory firm ISS recommends they do.
Smiths Medical has faced its fair share of buyout rumors, with lagging revenues for its infusion pump business leaving some wondering when the company would close up shop. But the Minnesota devicemaker is undergoing a transformation under the stewardship of new CEO Jeff McCaulley, shrugging off talk of M&A as it revives its flagging fortunes.
Medtronic will buy stent retriever cover maker Lazarus Effect for $100 million in cash. The medical device giant expects to use the startup's novel nitinol mesh cover product, the Lazarus Cover, in conjunction with its own Solitaire stent retriever platform. Earlier this month, Medtronic rolled out a more effective catheter delivery system for Solitaire.
Mylan and its hostile takeover target, Perrigo, have been trading lawsuits in the U.S., but now they've taken their legal battle across the ocean.
In the latest move by a biopharma into med tech, Teva Pharmaceutical will acquire respiratory disease compliance startup Gecko Health Innovations for an undisclosed sum. This gives Teva its own in-house medication compliance tracking capabilities--and takes one of a handful of high-profile startups in this area off the market.
With a combo of its lead cancer drugs already designated as a breakthrough worthy of VIP treatment at the FDA, Aduro Biotech has now added in-house checkpoint inhibitors to the mix. The Berkeley, CA-based biotech announced Thursday after the markets closed that it is acquiring the Dutch biotech BioNovion for $32 million evenly divided between cash and stock.
Venn Life Sciences is expanding its reach across Europe, buying a small Dutch contractor to bolster its offerings in regulatory affairs.