Mallinckrodt will slap down $2.3 billion to buy Ikaria, a privately held drug company, and its respiratory med for babies in neonatal ICUs. The deal will help Mallinckrodt grow its hospital drugs business, with a $150 million boost to revenue this year.
Pharma company Mallinckrodt will scoop up Ikaria, the maker of a drug-device combination product to help newborns suffering from respiratory failure breathe better.
While the industry was largely focused on the jaw-dropping sum being paid for Pharmacyclics today, Arrowhead Research has come in to buy up Novartis' cast-off RNAi business for the bargain rate of $10 million in cash and $25 million in stock.
After nixing his company's $55 billion deal for Shire last fall, AbbVie CEO Richard Gonzalez reminded investors that his company still had the "wherewithal to be active on the M&A front." Now, he's putting his money where his mouth is--and shelling out $21 billion for cancer drugmaker Pharmacyclics.
With Baxter's bioscience division getting ready to spin out into an independent operation with an R&D base in Boston, the company has struck a deal to buy out SuppreMol for $225 million in cash. Baxter is planning to continue operating the biotech at its Munich facility, where SuppreMol has been working on new drugs for autoimmune diseases.
French biotech Genfit is considering putting itself up for sale, Bloomberg reports, citing people close to the situation who say the company's in-development treatment for a pervasive liver disease could bring buyers to the table.
Smith & Nephew was down 8% on the March 3 news that Stryker now has a massive $2.6 billion authorization available for share repurchases. That's a significant shift in strategy for Stryker, which has been highly acquisitive in the last few years and has long been rumored as a potential buyer for Smith & Nephew.
Becton Dickinson has acquired Crisi Medical Systems for an undisclosed sum. The San Diego, CA-based startup is the only provider of real-time drug identification, dose measurement and allergy detection data for manual IV bolus injections that wirelessly populates patient electronic medical records, according to BD.
Bloomberg TV 's Olivia Sterns asked the question on many people's minds when she asked the CEO of Dublin, OH-based Cardinal Health, George Barrett, why the drug wholesaler's purchase of devicemaker Cordis makes sense. "Where's the synergy?" she queried.
Stryker is signaling that it could hit the brakes on acquisitions after an aggressive string of at least a half-dozen purchases over the past few years, including the $1.7 billion purchase of robotic surgery player Mako Surgical in December 2013.