Indian drugmaker Glenmark Pharmaceuticals has put its oral contraceptives unit on the block and is in talks with potential buyers, The Economic Times reports.
It's a "he said, she said" situation over the true value of Astex Pharmaceuticals. An activist shareholder has thrown up a roadblock for a proposed $886 million bid from Otsuka that it thinks is too low, accusing Astex of failing to reach out to all potential bidders--claims the company denies.
Mako Surgical is making an acquisition of its own, even as the Florida maker of robotic surgical devices itself is slated to be snatched up by Stryker for $1.7 billion. The company said it will pay $2.5 million and issue more than 3.9 million unregistered shares of common stock to buy Pipeline Biomedical Holdings, a New Jersey maker of orthopedic devices and instruments for both robotic and regular surgical procedures.
Analysts see Stryker's $1.7 billion bid for Mako Surgical as just the start of orthopedic device company M&A fever. They've zeroed in on Wright Medical as the next tantalizing target.
Swiss drugmaker Acino has agreed to be acquired by Avista Capital Partners and Nordic Capital for 398 million Swiss francs, or about $439 million, joining the recent torrent of private equity M&A activity in the pharma industry.
Given Imaging should be looking around for a buyer, one activist investor said, but not before spending $50 million of its excess cash on a share buyback.
Stryker's stock price has slipped more than 4% since the company signed up to pay $1.7 billion for robot-assisted surgery outfit Mako last week. But despite the tepid reaction, CEO Kevin Lobo believes the deal will help shepherd Stryker into the future of med tech.
After more than a year of not-so-secret negotiations, Geron has finally auctioned off its long-stalled embryonic stem cell pipeline, handing it over to a newly created BioTime subsidiary in exchange for shares.
Johnson & Johnson's move to sell its Ortho Clinical Diagnostics unit has attracted a number of first-round bids from several big-name private equity firms. Reuters reports that Blackstone Group, KKR, Bain Capital, Carlyle Group and BC Partners all threw their hats into the ring, among others.
Roche and Novartis may not head to the altar anytime soon--if ever. But the Swiss drugmakers could spend some quality time together. As Roche CEO Severin Schwan said over the weekend, why not collaborate? After all, Roche cooperates with plenty of other rivals.