The sudden departure of a C-suite exec always raises eyebrows. When the company is a buyout target in the midst of a heated takeover battle, the questions really fly. But in the case of Allergan CFO Jeff Edwards, whose departure the company announced Monday, analysts say there's nothing to worry about.
Novartis is forging ahead with a prospective stem cell biotech buyout, agreeing to pay $35 million to grab a sizable equity stake in Gamida Cell while executing a short term option deal that will allow the pharma giant the right to gobble up the company for another $600 million split up between a $165 million upfront payout with the rest up for grabs in development and sales milestones.
Speculation is building that Minneapolis-based Medtronic will modify its offer for Dublin-based Covidien.
Forget tax-advantaged Irish drugmakers. It may be a good time to take over an antibiotics maker on the cheap--and analysts have just the antibiotics maker in mind.
Novartis' on-again, off-again deal to buy out Israeli stem cell therapy developer Gamida Cell is reportedly back on again--though the pharma giant has apparently renegotiated the old $600 million pact to include a smaller upfront buy-in and one of its favored option agreements.
With M&A deals percolating around the global biopharma industry, investors bought in to the story anyway, driving up Chugai's stock price to record levels on the market buzz as fresh press reports added to the speculative frenzy.
Just last month Roche CEO Severin Schwan indicated he wasn't interested in mega-deals to build his company, only smaller, more targeted buys. Of course what is targeted and what is mega is in the eyes of the beholder. The Swiss drugmaker is reportedly in talks to buy up the 40% piece of Japanese partner Chugai Pharmaceutical it doesn't currently own. Price? $10 billion.
Roche is taking a hard look at partner Chugai Pharmaceutical, according to a report, considering whether to pay about $10 billion to buy the remaining shares of the company.
Go ahead and investigate Valeant and Pershing Square Capital Management, the drugmaker's deal partner in its $54 billion hostile bid for Allergan, the pair said Thursday in response to a reported SEC probe over insider trading. According to them, they've got nothing to hide.
As InterMune awaits FDA approval for its drug to treat a rare lung disease, reports emerged Wednesday that it has hired financial advisers to weigh takeover bids from the likes of Sanofi and Roche.