Acquisitive Chinese CRO WuXi PharmaTech is borrowing up to $165 million to keep up its string of deals, eyeing investments in R&D and manufacturing.
A deal that was rumored this summer now looks like it's ready to come to pass. Johnson & Johnson is ready to sell off its Cordis business to Cardinal Health for as much as $2 billion, according to report by Bloomberg. Cordis has elicited multiple offers from bidders, some of whom may still be in the running.
Bristol-Myers Squibb is gambling $800 million upfront to gain control of a preclinical IDO1 immunotherapy that shows promise in treating cancer, buying out San Carlos, CA-based Flexus with another $450 million set aside for milestones.
Hilary Kramer is a high-profile lawyer, stock picker and television commentator who has filed more than 40 class-action lawsuits against companies planning mergers or acquisitions, mostly on the grounds that the deals are unfair to shareholders. Among her targets: Animal Health International, a maker of drugs for livestock that was acquired by rival Lextron in 2011 for $251 million.
One of the world's largest CROs is no longer an independent entity as Covance has folded into testing giant LabCorp, closing a $6 billion deal and altering the industry landscape.
An expansive-minded Sosei has swooped in to buy Heptares Therapeutics, a U.K.-based biotech that's been at work building a pipeline of G protein-coupled receptor-targeted drugs with a slate of some of the world's biggest pharma partners.
Much as expected, M&A leader Valeant has bagged Salix Pharmaceuticals in a buyout and now plans to slash into its research and development budget to help pay for the deal.
Bayer is slated to sell its diabetes devices business to Panasonic Healthcare, according to a report from Bloomberg. The move has been years in the making as Bayer works to sell off peripheral businesses to focus on its core profitable ones.
There are reportedly at least three horses in the race to buy Salix Pharmaceuticals, but according to Reuters ' sources, serial acquirer Valeant has the lead.
Actavis CEO Brent Saunders expects pharma's deal wave to continue. But make no mistake, he says: Potential suitors are going to have to pony up a pretty penny if they want to swallow his company.