Rumors of a Teva-Mylan merger have swirled for weeks, and now that Teva's bid has actually arrived, the talk is heating up even more. Everyone has an opinion--Mylan and Teva included--and those opinions are all over the map. Strategic or not? Legally possible or not? At what price might Mylan be willing to talk? And could Mylan persuade the reluctant Perrigo to take its (defensive) $29 billion offer?
Conventional thinking is that the complexity of biosimilars will keep their discounts to just 20% to 30% of the branded price. Think again. In Norway a biosimilar of Merck's arthritis blockbuster Remicade is going for a discount of nearly 70%, upsetting conventional wisdom and competitors.
Bad news for Mylan if it wants to avoid a $40 billion takeover by generics rival Teva: Its own acquisition prospect, Ireland's Perrigo, isn't interested in getting together.
Investors like pharma M&A. Drugmakers have money--or access to it. Ergo, look for the dealmaking frenzy to continue, a Morgan Stanley equity strategist says. The pharma industry accounted for 45% of U.S. M&A so far this quarter, Bloomberg reports, and at least 20% of the value of all offers over the last two quarters.
Actelion hasn't been too keen on becoming an M&A target lately. But if it's the one in the driver's seat? Bring on the deals, CFO André Muller says.
Bernstein's Geoffrey Porges has run the numbers on what a Gilead takeover of Vertex would look like. And he loves what he sees.
The rumors are true: Teva does indeed have eyes for Mylan. And after months of speculation, its bid is here.
Fueled by strong sales for its latest cardio drug and a promising pipeline, Switzerland's Actelion says it's on the lookout for acquisitions but remains wary of paying the big premiums that have become commonplace in pharma.
Lima Corporate, an established Italian orthopedics company, is buying the three product lines from Zimmer and Biomet that the European Commission had last month required them to sell to complete their acquisition deal. The deal complements its own newly launched total knee system.
Daiichi Sankyo has had enough of trying to make money in the Indian generic drug industry. The Japanese drugmaker, which faces patent cliff issues, is selling off its stake in Sun Pharmaceutical just weeks after it closed on the all-stock deal selling Ranbaxy Laboratories to Sun for $3.2 billion.