(Reuters) – Pfizer‘s (NYSE:PFE) chief executive said on Tuesday he would prefer to wait for clarity on U.S. tax reform before engaging in any big deals in order to get a better understanding of any potential acquisition target’s value. The largest U.S. drugmaker has been under increasing pressure from investors and Wall Street to pull […]
Mergers & Acquisitions
NantCell takes on troubled CytRx chemotherapeutic
NantCell, one of controversial biotech entrepreneur Patrick Soon-Shiong’s many businesses, said last week that it inked a deal to acquire CytRx‘s (NSDQ:CYTR) aldoxorubicin cancer drug. The compound has faced several obstacles in clinical trials, including when it missed the primary endpoint of a late-stage clinical trial, failing to help patients with second-line soft tissue sarcoma […]
Icon beats Street on Q2 earnings, acquires Mapi Group
Drug development provider Icon PLC (Nasdaq: ICLR) saw its stock jump about 6% in value today after announcing second-quarter earnings that beat analysts’ expectations. The Dublin, Ireland–based company, which serves the pharmaceutical, biotechnology and medical device industries, also said it has acquired the Mapi Group, which provides patient-centered health outcomes research and commercialisation. Financial terms of […]
Baxter closes $625m Claris Injectables buy
Baxter (NYSE:BAX) said today that it closed its $625 million acquisition of Claris Lifesciences‘ (BOM:533288) injectable drug biz. According to the deal, Baxter gains Claris’ portfolio of injectable generics and three manufacturing plants. The Deerfield, Ill.-based company said it plans to add new aseptic manufacturing and lyophilization capabilities, as well as invest in new technology platforms, […]
Healthcare fund Gurnet Point buys Innocoll’s bioresorbable collagen matrix
Healthcare investment fund Gurnet Point said today that it completed its acquisition of pharmaceutical and medical device company Innocoll. According to the deal, Gurnet Point is slated to buy Innocoll for 1.75 per share in cash and up to $4.90 in cash from a contingent value right, in a deal valued up to $209 million. The investment […]
FTC approves Baxter’s $625m Claris buyout, with conditions
The Federal Trade Commission approved Baxter‘s (NYSE:BAX) $625 million acquisition of Claris Lifesciences‘ (BOM:533288) injectable drug biz, but mandated that the companies divest two drugs products – an antifungal agent, fluconazole, and intravenous milrinone. The FTC filed a complaint saying that the original deal would likely reduce competition in the U.S. for fluconazole since Baxter […]
Akorn shareholders approve merger deal with Fresenius Kabi
Akorn Inc. (NSDQ:AKRX) shareholders voted yesterday to approve its $4.75 billion merger deal with German healthcare company Fresenius (ETR:FRE). Fresenius’ Kabi division announced in April that it inked a deal to acquire the generic drugmaker, bringing with it a portfolio of ophthalmic drugs, ear drops, nasal sprays, respiratory drugs and medical creams. Since chief executive Stephan Sturm took over […]
Abbott launches tender offer for Alere in $5.3B merger
Abbott (NYSE:ABT) said today that it launched the tender offer for its $5.3 billion acquisition of diagnostics giant Alere (NYSE:ALR). The $402-per-share tender offer is slated to expire at midnight on August 11, Abbott said. The merger was amended in April, when Abbott agreed to pay $5.3 billion for Alere rather than the original price […]
Pamplona Capital to acquire Parexel in $5B deal
Parexel said today that it would go private after Pamplona Capital agreed to buy the pharmaceutical research services company in a deal valued at $5 billion. Pamplona is slated to pay $88.10 per share for Parexel, which is a 5% premium to the stock’s close on Monday. Get the full story at our sister site, […]
PerkinElmer to buy Euroimmun in $1.3B deal
PerkinElmer (NYSE:PKI) inked a deal today to acquire Euroimmun Medical Laboratory Diagnostics for $1.3 billion in cash. The move is an effort to expand into autoimmune and allergy diagnostic markets, according to the scientific instruments-maker. Germany-based Euroimmun has 2,400 employees and is expected to bring in $310 million in revenue this year. The acquisition, which […]