The big series of acquisitions that is making Actavis--now changing its name to Allergan--into a top 10 Big Pharma company overnight also bequeathed the company with an oddly disjointed pipeline of would-be blockbusters. And the company rolled it all up for public viewing today for its investors, touting its potential for spurring $6 billion in new sales.
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.
Hyperion Therapeutics, which argues it was tricked into signing a $570 million deal for an Israeli biotech, has reached a ceasefire with the seller over a diabetes drug with a checkered past.
With Valeant and Shire already said to be prepping bids for North Carolina's Salix, it seems there's a third wannabe suitor, too. Word on the street is that Endo International has come calling multiple times--and though Salix has shot Endo down, it's still not going away.
Actavis is selling its in-house R&D outsourcing company to private equity giant TPG, which has plans for more bolt-on acquisitions.
Billionaire R.J. Kirk's Intrexon has signed a $60 million deal to acquire ActoGeniX, a Belgian biotech at work on oral drugs designed to generate therapeutic proteins and peptides from within the body.
Salix Pharmaceuticals, moving on from an embarrassing inventory scandal, is reportedly headed for a bidding war between two larger companies with diametric approaches to the business of developing drugs.
Earlier this month, rumors started swirling that Valeant was talking with its advisers about a potential bid for North Carolina's Salix Pharmaceuticals. Now, it's reportedly one step closer to making that happen--but it may not be alone.
Shire has some hefty sales forecasts in place for 2020, when CEO Flemming Ornskov has said it'll be bringing in a $10 billion top-line haul. Now, after a monster sales vault in 2014, the company is nearly 60% there--but don't expect a repeat growth surge this year, it says.
When Hospira's proxy was filed last year, CEO F. Michael Ball's $9.9 million in total compensation didn't even rank him among the top 15 highest paid biopharma execs. But with the $15 billion sale of his company to Pfizer, Ball will achieve that goal that CEOs strive for: the payout of the golden parachute. In his case, it is a package that adds up to more than $80 million.