The planned transcontinental marriage between South America's CFR and South Africa's Adcock Ingram had been on shaky grounds for some time. But the engagement has been officially dissolved, thwarted by a jealous shareholder. The question now is whether the drugmaker will be forced back into the arms of a suitor it has arlready spurned.
Weeks ago, Myriad Genetics alarmed investors when news broke that Medicare reimbursement for its signature predictive cancer test would be slashed nearly in half. Now, in the wake of stellar financial results and news of a major acquisition, investors are in the midst of an ongoing "happy dance."
Myriad Genetics may be furiously suing competitors who launched rival BRCA predictive cancer diagnostics. But the Utah company was strong enough to produce substantial gains in revenue in its fiscal 2014 second quarter, in part through the success of its own market-dominating BRCA offering.
A couple of weeks back, the Street was abuzz that Merck would hand over its consumer-health business for Novartis' animal-health and vaccines units. Yesterday, word was that Merck has some consumer-goods giants shopping its consumer-health aisle.
GE Healthcare sold Breas Medical--its manufacturer of sleep apnea and respiratory ventilators--to PBM Capital Group for an undisclosed price. PBM Capital could not reveal terms of the acquisition, company spokesman Sean Stalfort told FierceMedicalDevices.
India's Lupin is staking a claim in sterile injectables, with a deal to buy the Netherlands-based drugmaker Nanomi.
Thermo Fisher has closed its mammoth $13.6 billion buyout of Life Technologies, barely a few days after U.S. antitrust regulators signed off on the deal.
Rexam, a global maker of beverage cans and other products, will unload most of its healthcare packaging business onto Montagu Private Equity in an $805 million cash deal.
Valeant Pharmaceuticals has snapped up another dermatology specialist in its ongoing quest to build its business in the field. This time, it's PreCision Dermatology, a Cumberland, RI-based maker of prescription skin remedies and skin-care products sold by physicians.
R&D software developer Accelrys has spent the four years since it merged with Symyx gobbling up a string of smaller companies. Yet this week Accelrys' management found themselves at the opposite end of the deal negotiating table and have struck a $750 million deal to sell the company.