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 […]
Mergers & Acquisitions
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 […]
Johnson & Johnson closes $30B Actelion buyout
Johnson & Johnson (NYSE:JNJ) closed its $30 billion buy of Swiss biotech firm Actelion, the company reported today. The US healthcare giant bought Actelion in an all-cash deal for $280 per share. The acquisition is expected to add $1.3 billion in sales for Johnson & Johnson in 2017, according to the company. “We are very […]
Bigfoot buys connected insulin pen tech
Artificial pancreas developer Bigfoot Biomedical said today that it acquired Patients Pending and its connected insulin pen technology for an undisclosed amount. With this acquisition, Bigfoot said it is the 1st company to simultaneously pursue both insulin infusion and injection delivery solutions. “Bigfoot isn’t in the pump business. And even though we are excited to […]
Mallinckrodt mulls sale of generics biz
Mallinckrodt Pharmaceuticals (NYSE:MNK) is reportedly considering a sale of its generic drug unit in an effort to focus its portfolio on high-margin branded drugs, according to a report from Reuters. The divestment comes only months after the company sold its nuclear imaging business to IBA Molecular for $690 million. The sale of its generics business could […]
Chiltern acquires Integrated Development Associates
Contract research organization Chiltern announced today that it is expanding its Japanese and Asian presence through its purchase of Integrated Development Associates. Financial terms of the deal were not disclosed. IDA has staff in Japan, Korea and Southeast Asia – and offers opportunities to integrate the region into global drug development, according to Chiltern. IDA’s expertise includes […]
UPDATE: Potential Alcon sale worries Novartis investors
Updated to include new details of Novartis’ M&A strategy. Novartis (NYSE:NVS) CEO Joe Jimenez’s consideration of the sale of the Alcon subsidiary has investors worried that the influx of cash – Alcon’s surgical devices and contact lens business could fetch as much as $35 billion – will result in another misguided acquisition. The Swiss drugmaker […]
Sanofi decides to keep Cepia biz
Sanofi (NYSE:SNY) has decided to keep its Cepia chemical unit, a spokesperson for the company said on Friday. The Cepia division, which deals with what Sanofi calls ‘third party activities’ such as the supply and production of active pharmaceutical ingredients, was previously being considered for sale in a deal that could have been worth up […]
Allergan closes $2.48B Zeltiq acquisition
Allergan (NYSE:AGN) said today that it closed its $2.48 billion acquisition of Zeltiq Aesthetics Inc. (NSDQ:ZLTQ) and its portfolio of body-contouring products. Zeltiq’s FDA-approved CoolSculpting system uses a cooling mechanism to reduce the appearance of fat which has not responded to diet or exercise, without disturbing surrounding tissue. According to the deal, Allergan agreed to […]
