One of the world's largest CROs is no longer an independent entity as Covance has folded into testing giant LabCorp, closing a $6 billion deal and altering the industry landscape.
Bayer is slated to sell its diabetes devices business to Panasonic Healthcare, according to a report from Bloomberg. The move has been years in the making as Bayer works to sell off peripheral businesses to focus on its core profitable ones.
Chinese conglomerate Fosun Pharma is reportedly in talks to acquire minimally invasive procedure player Lumenis for $480 million. As expectations of the deal leaked, Lumenis has gained about 14% to a market cap of around $410 million.
Denmark's William Demant, the world's second largest hearing aid maker, announced it is in talks to acquire French hearing correction provider Audika for €168 million ($191 million).
Biotech player Intrexon has signed up to acquire Belgium's ActoGeniX for $60 million. The new addition is a developer of oral meds as an alternative to injectable biologics. Currently, biologic therapies cannot withstand the rigors of the acid in the stomach, so oral versions of the new-era drugs are lacking.
Saying it needs to focus on the looming integration effort with Botox maker Allergan, Actavis announced that it will sell Aptalis Pharmaceutical Technologies, a third-party supplier of drug delivery capsules and taste-masking formulations, back to private equity firm TPG for an undisclosed amount. The deal is expected to close in mid-2015.
Actavis is selling its in-house R&D outsourcing company to private equity giant TPG, which has plans for more bolt-on acquisitions.
DePuy Synthes will introduce imaging for minimally invasive arthroscopic surgeries with the purchase of Utah-based startup Olive Medical for an undisclosed amount. Orthopedics is one of its stronger medical device businesses and this Johnson & Johnson company is focused on leveraging its scale across it.
Zimmer revealed that it has submitted a revised package to the European Commission to get approval of its $13 billion purchase of Biomet. The revision makes changes from the package proposed in December based on feedback from the commission. The deadline for the commission's decision is May 26. Zimmer still expects the transaction to close by the end of the current quarter.
Irish CRO Icon is expanding its drug launch and marketing services, trading $120 million in cash for MediMedia Pharma Solutions.