After a series of offers, Takeda (TYO:4502) said today that it reached an agreement with Shire (NSDQ:SHPG) to acquire the U.S.-based company in a deal valued at $62 billion. The merger was approved by both companies’ boards of directors, according to Takeda, and is slated to close in the first half of 2019. Takeda investors are wary […]
Mergers & Acquisitions
China’s CDH Investments counters Varian with unsolicited $1.4B bid for Sirtex
Sirtex Medical (ASX:SRX) said today that it’s fielding an unsolicited, $1.41 billion counter-offer from China’s CDH Investments that trumps a previous, $1.28 billion bid from Varian Medical (NYSE:VAR) that’s already won approval from U.S. and German regulators. CDH’s A$33.60-per-share offer is a 20% premium on Varian’s initial A$28-per-share offer and prompted Sirtex to seek to scuttle a […]
J&J’s Janssen acquires cancer-killing virus tech
Johnson & Johnson‘s (NYSE:JNJ) Janssen Biotech said today that it agreed to acquire BeneVir Biopharm and its T-Stealth oncolytic virus platform. The privately-held biopharmaceutical company engineers cancer-killing viruses that are designed to infect and destroy cancer cells. Janssen plans to develop BeneVir’s preclinical candidates for the treatment of solid tumor cancers. According to the terms […]
United Therapeutics puts $216m on the table to buy rival SteadyMed
United Therapeutics (NSDQ:UTHR) today signed a deal to acquire competitor SteadyMed (NSDQ:STDY) for $4.46 per share in cash at closing and $2.63 per share in cash if the combined company can win approval for SteadyMed’s Trevyent drug-device combination therapy. The merger, valued at $216 million, combines two companies that were in court as recently as last November, […]
Shire accepts $64B takeover bid from Takeda
Shire (NSDQ:SHPG) said late yesterday it agreed to Takeda Pharmaceutical‘s (TYO:4502) reworked acquisition bid, now worth approximately $64.2 billion (GBP £46 billion). The takeover offer will now go to Shire’s shareholders for approval, having received backing from Dublin, Ireland-based Shire’s board of directors, according to a press release. In the deal, Takeda will offer approximately 0.839 […]
Report: Takeda raises $60B offer for Shire, nears prelim acquisition agreement
Takeda Pharmaceutical (TYO:4502) has sweetened its approximately $60 billion bid for Shire (NSDQ:SHPG) and is approaching a preliminary agreement for acquisition, according to a new report from Bloomberg. The deal could come to a head as early as today, according to the report, as both companies have been working on a tentative agreement and price for the […]
Orion inks $200m deal to sell diagnostics unit
Orion said today that it plans to sell its Orion Diagnostica division to an investment fund managed by Axcel Management for $200 million. The Finland-based company said its diagnostic unit operates independently from its pharmaceutical business and that the two groups have “material business synergies.” “The sale of the division will allow us to further […]
Fresenius abandons $4.3B Akorn merger, citing data integrity probe
Fresenius (ETR:FRE) is walking away from a $4.3 billion merger with U.S. generic drugmaker, Akorn Inc. (NSDQ:AKRX), citing an investigation that found material breaches of FDA data integrity requirements relating to Akorn’s operations. Fresenius said in a statement that it offered to delay its decision to give Akorn time to compete its own investigation, but Akorn turned […]
Update: Allergan, Takeda spar for Shire
Hours after Allergan (NYSE:AGN) said it was considering an acquisition of Shire (NSDQ:SHPG), the Dublin-based company announced that it does not intend to make such an offer. Reports also surfaced today that Shire rejected a $63 billion takeover offer from Takeda Pharmaceutical (TYO:4502). Reuters, which first broke the news of Allergan’s interest in Shire, citing a pair of unnamed sources, […]
Ferring Pharma acquires Rebiotix and its microbiome therapy platform
Ferring Pharmaceuticals inked a deal to acquire Rebiotix and its platform of living drugs for an undisclosed amount, the companies announced today. The Roseville, Minn.-based company is developing a microbiome-based therapy to prevent recurrent Clostridium difficile infection. Its Microbiota Restoration Therapy, which is delivered via enema or a lyophilized, non-frozen oral capsule, is designed to supply a […]