Actelion predicts it'll have a difficult time competing against its rivals for M&A targets going forward. But never fear. The company will have plenty to plow into its own development work thanks to its hefty price tag on new pulmonary arterial hypertension med Uptravi, execs said Tuesday.
Last week, Valeant CEO J. Michael Pearson, in the hospital with severe pneumonia, took a medical leave of absence. And now, the company is reportedly putting a new chief in his place.
It looks like Baxalta and Shire may be the first to keep pharma's red-hot M&A streak going in 2016, with a deal between the two rumored for as early as this week. But not everyone's convinced it's the right move.
Engaged Capital first voiced its opposition to the HeartWare purchase of Valtech Cardio for about $930 million in cash and stock last October. Now, it's taking a step it had threatened earlier and nominated three board members. Success on that front would give the activist investor considerable leverage on the board, which currently is comprised of 8 members.
Shire and Baxalta are getting close to a blockbuster merger, according to reports, circling a $32 billion deal after months of public squabbling over price.
If you think 2015 was a big year in pharma M&A, just wait. That train won't be slowing down any time soon, industry watchers say. On the contrary, they're expecting even more deal activity next year.
With valuations down, buyouts and licensing deals become even more attractive. They're already a requirement. Anyone with a casual acquaintance with the state of Big Pharma R&D knows the giants in this business badly need promising mid- and late-stage assets to feed into their pipelines.
Earlier this year, Lima bought European rights to the Zuk unicompartmental knee, now rebranded as Physica Zuk, and the Discovery Total Elbow system from Zimmer as part of its merger with Biomet. It also gained rights to Biomet's Vanguard Complete Knee System in a couple of European countries. The terms of that deal were undisclosed.
CryoLife is slated to buy Austin, TX-based startup On-X Life Technologies for $130 million in cash and stock. The Atlanta, GA-based acquirer specializes in tissue implants and medical devices for cardiac and vascular surgical use; the deal will add the On-X aortic valve as well as other marketed valve products.
Shire has offered up a new bid for elusive target Baxalta that's more or less what the Illinois drugmaker has been looking for, reports say. But that doesn't mean Baxalta isn't exploring its other options.