No, Roche is not going to merge with Novartis. Or at least, it's not on CEO Severin Schwan's to-do list. Instead, Schwan carefully repeated the pharma giant's strategy on buyout deals: $1 billion bolt-ons are in style, with a limited appetite for deals in the $3 billion to $4 billion range.
Hoping that a Basel-based dynamic duo will take on the pharma market together? Don't, says Roche CEO Severin Schwan. He made it quite clear that the Swiss drugmaker's founding families, who still control 50.1% of the company, have no interest in merging with crosstown rival Novartis.
AstraZeneca has struck a deal to buy one antibody-drug conjugate developer for up to $440 million while making a $20 million equity bet on another as it continues a global biotech shopping spree to stock its pipeline of cancer drugs.
Aratana Therapeutics has struck a deal to buy San Diego-based Vet Therapeutics, adding new pet therapies to its pipeline for $30 million in cash, a chunk of stock, a promissory note for $3 million and up to $5 million in milestone payments.
St. Jude Medical snatched up Nanostim for at least $123.5 million, giving it bragging rights as the owner of the only leadless cardiac pacemaker to hit the market so far.
Catalent has snapped up a Brazilian contract manufacturer, expanding its hold on the global softgel market by growing its presence in Latin America.
The private equity firm will reportedly pay about $150 million for nearly 30% of the drugmaker, which makes heparin and some other products for the cardiovascular and orthopedic segments.
C.R. Bard's $262 million cash bid for Rochester Medical is hitting the home stretch. The soon-to-be acquired company will hold a special shareholder meeting Nov. 13 to approve the deal. Rochester Medical shareholders aren't likely to put up much of a fuss.
With Johnson & Johnson's cancer treatment Doxil expected to run short till the end of 2014, India's Sun Pharmaceutical Industries stands to gain. To meet demand amid previous scarcity, the FDA allowed Sun's unapproved generic version of the drug to be imported into the U.S. Now, after a fast-track approval process, the drug has FDA's blessing, and Sun will have the market all to itself, at least for now.
The online chatter in Bloomberg and Reuters about potential Roche deals has been flying fast and furious recently, but there's been a streak of unfounded rumors that appear to be more smoke than fire.