Still finding its footing after irked investors mounted a proxy challenge last year, Alere is shuffling its top ranks and setting out on a review of its operations, a move that could spell more divestitures.
Valeant and partner Bill Ackman may not yet have bagged acquisition target Allergan, but shares have leapt since the takeover team went public with its plans in mid-April, helping push gains for Ackman's hedge fund, Pershing Square Capital Management, to $1.2 billion.
Up to now about the only reason any serious analyst could justify Pfizer's interest in AstraZeneca's pipeline centered on its early-stage work in immuno-oncology. But the U.K.'s Sky News city editor says that the company will be highlighting all of its "hidden gems" in long-term development as a solid reason why investors should give Pfizer's $106 billion buyout offer a pass.
A few months ago, Teva CFO Eyal Desheh told the J.P. Morgan Healthcare Conference that armed with a new incoming CEO and a reasonable debt level, the Israeli company was ready to make some deals. So with an M&A wave taking the pharma industry by storm, where is Teva in the melee?
With Reckitt Beckiser out of the race for Merck's consumer health unit, Bayer is in exclusive talks with the New Jersey company, reports say, and it could have a $14 billion deal wrapped up in the next few days.
Pfizer upped its offer for AstraZeneca today from $100 billion to $106 billion, and AstraZeneca dutifully rejected it, but experience in the world of pharma takeovers tells us this is unlikely to be the end of the drama.
AstraZeneca's board has rejected Pfizer's sweetened $106 billion bid for the company, dismissing the mix of cash and stock behind the £ 50 ($84.47) offer as inadequate and ignoring a pledge from Pfizer to push ahead with a major new R&D complex in Cambridge while retaining a large contingent of researchers in the U.K. for at least 5 years.
Wright Medical Group has just submitted a PMA amendment for its Augment bone graft, CEO Robert Palmisano told investors, in what amounts to compromise with the FDA.
Even as reports of a prospective takeover bid from Allergan circulate, Shire CEO Flemming Ornskov shows no sign of slowing down on the company's deal spree. The biotech is buying Australia's Fibrotech for $75 million upfront and a string of undisclosed milestones, bringing in a lead drug for fibrosis.
The Financial Time s got hold of a couple of AstraZeneca's biggest investors this week and found that they were discreetly wide open to a Pfizer takeover--provided the U.S. pharma giant agreed to make an offer they couldn't refuse.