Auxilium Pharmaceuticals is merging with Canadian biotech QLT in an all-stock deal designed to both expand its pipeline and slash its corporate tax rate.
Diversified conglomerate Danaher emphasized organic growth rather than acquisitions at a recent investor meeting. That's despite much speculation on its M&A appetite following the Medtronic announcement that it will acquire Covidien.
Tuesday, Valeant CEO J. Michael Pearson said his company was close to luring the 25% of Allergan investors it needs to call a special meeting, where it believes it can shake up Allergan's board and dismantle its poison pill defense to make way for a takeover. And now, the Canadian pharma may have just picked up some more support.
Valeant can't make a deal for Allergan if it doesn't get shareholder support for a special meeting. That's where it hopes to overturn Allergan's board and its poison pill defense. But if you ask Valeant CEO J. Michael Pearson, his company is well on its way toward that goal.
In the wake of Medtronic's hefty $43 billion Covidien acquisition, the company gears up by naming a new chief integration officer, Geoff Martha, currently their senior vice president for strategy and business development.
Monday, Shire laid out its justification for staying independent, eager to ward off circling suitors. Now, AbbVie, which has already made three passes at the Irish drugmaker, has laid out its own case for a takeover.
Didn't like the old AbbVie? Perhaps you should consider New AbbVie. The pharma giant laid out its case for a $46 billion takeover of Shire today, insisting that their complementary pipelines and product base covering a full range of categories, global sales operations and a quick tax inversion--moving its tax base to the U.K. while retaining its headquarters in Chicago--made the numbers for a post-merger New AbbVie look great.
Endo, in a world of financial hurt, has been turning to M&A lately to ease the pain. Its latest move: a deal for New Jersey generics maker DAVA Pharmaceuticals worth up to $600 million.
Abbott Laboratories has said it plans to focus its branded generics business on a select group of rapidly expanding emerging markets. It appears Russia is one of them. The Illinois-based drugmaker will shell out up to $495 million to buy the fast-growing Russian generics maker VeroPharm from local billionaire Roman Avdeev.
Allergan's board has already rejected Valeant's $53 billion buyout bid, prompting the wannabe-acquirer to take the proposal directly to shareholders. Unsurprisingly enough, Allergan's board doesn't like that too much, either. And if you ask Valeant, it's twisting the facts to get shareholders on its side.