Latest Headlines

Latest Headlines

WuXi borrows $165M to bankroll more M&A

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.

J&J readies to rid itself of Cordis--for as much as $2B to Cardinal Health

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.

UPDATED: Bristol-Myers bags IDO immunotherapy in $1.25B buyout of fledgling Flexus

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.

TV lawyer leads wave of opposition to M&A, starting with animal health

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.

LabCorp seals its $6B deal for Covance

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.

$400M buyout deal puts Heptares' GPCR pipeline in Sosei's hands

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.

Valeant buys Salix for $10B, preps a cut in R&D costs and overhead

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.

KKR-backed Panasonic Healthcare to buy Bayer diabetes device biz for as much as $2.3B

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.

Valeant closing in on $160-per-share Salix deal: Reuters

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.

Want Actavis? Prepare to pay up, CEO says

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.