Abbott will buy two mitral valve replacement startups, moving it even further into med tech after a series of high-profile deals last year. It obviously sees the sector as a way for it to plan for long-term growth--since its innovative biopharma candidates went with AbbVie when the companies split in early 2013.
Last week, Horizon raised its buyout offer for California's Depomed in order to spur the drugmaker into coming to the bargaining table. But it looks like it'll have to go with Plan B.
Teva's $40.5 billion deal to buy Allergan's generics business ended its pursuit of Mylan and left its rival the chance to snap up its own hostile target, Perrigo. But the way some analysts see it, things won't necessarily go that way.
On Monday, Allergan agreed to sell off a $40.5 billion piece of its business, inking a pact to exit the generics space with a sale to Teva Pharmaceutical Industries. But CEO Brent Saunders is already thinking about future buys.
German specialty pharma Mallinckrodt has opted to sell off its contrast media and delivery systems business to Paris-based Guerbet for about $270 million as part of a strategic review of its business. The business has had declining revenues, but generates substantial cash and will mean a big step up for Guerbet.
Last week was a less-than-ideal one for Biogen--and the Massachusetts company may risk becoming deal bait if it doesn't do something about it quickly.
When Boehringer Ingelheim put its U.S.-based generics business on the market, Hikma Pharmaceuticals, Mallinckrodt and Perrigo reportedly pulled up seats at the bidding table. But Hikma emerged the winner, snagging Boehringer's Roxane Labs unit for $2.65 billion to substantially boost its noninjectable generics business.
Merck, maker of the pioneering immuno-oncology treatment Keytruda, is investing in the next generation of cancer therapies that harness the body's natural defenses, agreeing to pay as much as $605 million for an Israeli biotech at work in the field.
It's been less than 8 months since the company formerly known as Actavis agreed to swallow Allergan, taking a $66 billion plunge into branded sales and pledging to run its branded and generics businesses as "one culture, one company." But it took just a few weeks to undo those plans, as lucky bidder Teva found out with Monday's $40.5 billion deal for the drugmaker's generic offerings.
In a conversation with Forbes ' Matthew Herper, Allergan CEO Brent Saunders happily spotlighted his bolt-on buyouts with Kythera, Naurex, Furiex and Rhythm. Compare that to recent remarks from Eli Lilly's John Lechleiter, who has always insisted on backing the pipeline he has while adding an occasional pact, or Severin Schwan at Roche. Both see this current market as overpriced.