Novartis' 8-year foray into vaccines is officially coming to a close. After divesting the bulk of its unit to GlaxoSmithKline in an April deal, the pharma giant Sunday announced it had agreed to sell its flu shot business to Australia's CSL. And with that, it'll make its exit from a field that's given it trouble since its Chiron buyout in 2006.
Covidien conceded in an Oct. 24 filing with the federal Securities and Exchange Commission that it will likely divest some vascular assets so that the looming $43 billion mega merger with Medtronic can commence under antitrust law.
Drugmakers have been buying out OTC companies left and right lately. But would that demand apply to a Russia-focused consumer company, considering the recent slow-down in Russian investment? Unipharm is about to find out.
MPI Research has acquired fellow Michigan CRO Jasper Clinical Research and Development for an undisclosed sum, a move that will augment the company's offerings in Phase I trials.
Valeant CEO J. Michael Pearson is apparently sick of Allergan's mantra that his hostile bid "grossly undervalues" the company. While the bid is a good one, he contended in a Monday letter to the Botox-maker, Valeant will hike it further if it needs to--past $200 a share, in fact--and it's time for Allergan's board to come around.
French drugmaker Virbac said Monday it would pick up two products marketed by Novartis Animal Health in the U.S.--the parasiticides Sentinel Flavor Tabs and Sentinel Spectrum--which Eli Lilly has agreed to divest in advance of its acquisition of Novartis's animal products unit. Lilly reached the agreement with Virbac in connection with the U.S. Federal Trade Commission's review of its acquisition of Novartis Animal Health, according to a press release issued by Virbac.
Pfizer's $11 billion share buyback, announced late Thursday, gave investors something to focus on, rather than fretting about whether the company would renew its pursuit of AstraZeneca once the required cooling off period lapses in November. But some of them immediately started worrying about whether the buyback meant it was less likely Pfizer would do a big deal.
Allergan, Salix and Omega are all reportedly in Actavis' dealmaking sights, but which will the drugmaker go after? With an active M&A track record and deal veteran Brent Saunders at the helm, some analysts think the company could lock down more than one--but it won't necessarily be easy.
A few potential deals have already caved under the weight of new U.S. tax rules that discourage inversion deals. Not Mylan's. The Pittsburgh-based company is pushing ahead with a $5.3 billion plan to buy a piece of Abbott Laboratories' overseas generics business--with a few edits, of course.
Med merger mania is leaving no stone unturned, even sterilization services. On the heels of Steris's bid for Britain's Synergy Health in another inversion deal, private equity firm GTCR is looking to unload Sterigenics International, another sterilization company, for $1.5 billion, including debt.