Catalent today priced an underwritten public offering for 6,395,000 shares of its common stock at $39.10 apiece. The offering will be used to fund, in part, the drug-delivery company’s $950 million purchase of biologics manufacturer, Cook Pharmica. In connection with the offering, Catalent granted underwriters a 30-day option to buy up to an additional 959,250 shares of […]
Mergers & Acquisitions
Catalent floats $250m public offering to fund Cook Pharmica purchase
Catalent said today that it launched an underwritten public offering for $250 million of its common stock to fund, in part, its $950 million purchase of biologics manufacturer Cook Pharmica. In connection with the offering, Catalent is slated to grant underwriters a 3o-day option to buy up to $37.5 million of additional shares of common […]
Catalent dishes out $950m for biologics manufacturer
Catalent said today that it plans to purchase Cook Pharmica for $950 million in cash. Cook Pharmica, a unit of privately-held medical device maker Cook Group, is a contract manufacturer that develops biologics-based drug compounds. The deal readies Catalent for an expansion of its biologics biz. Catalent will have access to Cook Pharmica’s Indiana-based facility […]
Livongo buys diabetes management company Diabeto
Livongo Health said yesterday that it bought digital diabetes management company, Diabeto, for an undisclosed amount. Diabeto sells a connectivity technology called Birdie that plugs into more than 40 different glucose meters, connecting them to Diabeto’s mobile apps and to Livongo’s newly-released apps. “We’ve heard from the market that, in addition to a comprehensive solution […]
LabCorp completes $1.2B Chiltern buy
Diagnostics company LabCorp (NYSE:LH) said today that it has closed its $1.2 billion acquisition of contract research organization Chiltern International. Chiltern is slated to fold into the company’s Covance drug development business, which conducts clinical trials for drugmakers. “The addition of Chiltern advances a key element of LabCorp’s strategy – to bring innovative medicines to patients […]
Fresenius closes Merck biosimilar biz purchase
Fresenius Kabi said today that it closed its acquisition of Merck KGaA’s biosimilars unit. The company paid €156 million at closing ($185.7 million USD) and could pay up to €500 million ($595.2 million USD) in milestone payments, which are contingent upon meeting certain drug development targets. Previously, Fresenius announced it would pay €170 million upfront ($202.4 million […]
Investors sue Teva over $41B Actavis deal
Teva Pharmaceuticals (NYSE:TEVA) and a handful of current and former executives were hit with a lawsuit yesterday alleging that the drugmaker hid the negative fallout linked to its $40.5 billion purchase of Actavis Generics. Barry Baker, a Teva investor, claimed that the company, former CEO Erez Vigodman, ex-CFO Eyal Desheh and interim CEO Yitzhak Peterburg issued […]
Synlogic finalizes Mirna Therapeutics merger
Synlogic said today that it finished its merger with Mirna Therapeutics after the deal won approval from Mirna’s stockholders last week. The merged company, which will trade on the Nasdaq market under the symbol “SYBX”, is slated to advance Synlogic’s Synthetic Biotic medicines. The company’s platform uses synthetic biology to reprogram probiotic bacteria to treat […]
Gilead expands into cell therapy with $11.9B Kite Pharma purchase
Taking a plunge into the cell therapy arena, Gilead Sciences (NSDQ:GILD) said today that it has inked an $11.9 billion deal to acquire Kite Pharma (NSDQ:KITE). The deal, which was unanimously approved by both companies’ boards, is slated to close in the fourth quarter of this year. Gilead said it plans to pay $180 in cash […]
Shareholder suit against Alere stays alive
A Massachusetts federal judge dismissed most of a securities fraud class action case against Alere (NYSE:ALR) yesterday, saying that the complaint did not support the claim that Alere senior management had prior knowledge of the company’s alleged wrongdoing. U.S. district judge Patti Saris did, however, allow one part of the complaint to move into discovery. The […]