The deal is done. Diagnostic test maker Quidel now officially owns BioHelix, a Beverly, MA maker of nucleic acid technology for molecular diagnostic tests. Quidel is paying $10 million in cash up front, plus more money depending on a number of development and sales milestones.
A group of minority Schering AG shareholders held out to the bitter end against what Bayer wanted to pay them for their shares, and they will now get the sweet deal they said they deserved.
Covidien unveiled its forecast for Mallinckrodt, the drug unit it plans to set free later this year. Percentage-wise, the expectations are strong: For the fiscal year ending on September 27, Covidien predicts sales growth of 7% to 11% compared with 2012.
CRO Simbec Research is using an investment from the Wales Life Sciences Investment Fund to acquire itself from the Canadian Altasciences Group, looking to expand its staff to more than 100 and chase new development deals around the world.
Australia's Novotech has sold off a 30% stake to private equity firm Mercury Capital, planning to use the money to spread its reach across Asia.
Swedish CRO TFS is getting back to M&A, acquiring Beardsworth Consulting Group to bolster its capacity for oncology and vaccine clinical trials.
Haemonetics will shutter a plant in Braintree, MA and eliminate 320 jobs the facility supported over the next 18 months. But it will expand operations in Mexico and Asia.
Zimmer snatched up a Pennsylvania startup with a cutting-edge knee treatment surgical procedure, giving the medical device, implant and surgical product manufacturer a big boost to its own offerings in the space.
Valeant CEO Michael Pearson hasn't made a secret of his ambitions. He wants to be within spitting distance of Big Pharma. So, it probably shouldn't have been a surprise that he and Actavis chief Paul Bisaro were talking about a merger. And now, expectations are wide open.
Allergan says it is mulling potential buyers for its obesity intervention unit and is on track to sell the division by mid-2013.