Swiss biotech firm Actelion Pharmaceuticals (VTX:ATLN) reportedly rejected Johnson & Johnson‘s (NYSE:JNJ) 2nd takeover offer, sending it shares down -6% in afternoon trading yesterday. The 2 companies have been engaged in informal talks for 2 months, according to Reuters, and the latest offer was pegged at 250 Swiss francs per share. J&J’s $270 billion bid for Actelion tempted shareholders, […]
Wall Street Beat
Report: J&J raises the stakes in Actelion pursuit
Johnson & Johnson (NYSE:JNJ) has reportedly raised its offer for Swiss biotech firm Actelion Pharmaceuticals (VTX:ATLN), pressuring the company to accept a takeover deal. The companies have been in talks for nearly 2 months but so far have not reached a deal, according to Reuters. The news outlet reported that Actelion wants J&J to become a major shareholder […]
Intec Pharma inks deal with Michael J. Fox Foundation for patient recruitment
Intec Pharma (NSDQ:NTEC) said today that it inked a deal with the Michael J. Fox Foundation for Parkinson’s Research to support the biopharmaceutical company’s patient recruitment and retention for its pivotal phase III trial. The study will evaluate Intec Pharma’s lead candidate, the “accordion pill” carbidopa/levodopa (AP-CD/LD), as a treatment for patients with advanced Parkinson’s […]
Catalent to float $400m debt offering
Catalent (NYSE:CTLT) said today that it plans to fund its acquisition of soft-gel pharmaceutical capsule manufacturer Accucaps Industries Ltd with a $400 million debt offering. The Somerset, N.J.-based company said the private placement offering of euro-dominated senior unsecured notes due in 2024 will also be used to repay some of the outstanding borrowings under its senior […]
Navidea deals NA Lymphoseek rights to Cardinal Health in $310m deal
Navidea Biopharmaceuticals (NYSE:NAVB) said today that it inked a definitive asset purchase agreement with Cardinal Health (NYSE:CAH) for its Lymphoseek product. Dublin, Ohio-based Navidea said it’s due to receive $80 million at closing for the lymphatic mapping and lymph node biopsy product, plus the opportunity for $230 million in milestone payments through 2026. More than $20 […]
J&J approaches Actelion
Johnson & Johnson (NYSE:JNJ) is reportedly in preliminary discussions to buy Actelion Pharmaceuticals (VTX:ATLN) in a deal estimated to be as high as $247 (250 Swiss francs) per share, although the European biotech said there is no guarantee the deal will go through. J&J’s CEO Alex Gorsky said this year that the company is interested in deals […]
UPDATE: Mylan declines to testify at Senate committee hearing
Updated to include the Senate Judiciary Committee’s response. Mylan (NDSQ:MYL) declined to testify at a U.S. Senate committee regarding its $465 million pending settlement to deal with charges that it underpaid government healthcare programs when it misclassified its EpiPen injector as a generic. The Canonsburg, Pa.-based company penned a letter to the Senate Judiciary Committee […]
Report finds pressure from Congress does not budge drug prices
Committees in Congress have issued more than a dozen subpoenas to drug-makers for alleged price-hiking in the last 2 years, with members of the House and Senate collecting hundreds of thousands of documents on pricing strategies and marketing tactics. They’ve put pharmaceutical execs through more than 16 hours of public testimony. But an Associated Press review shows that pressure from Washington […]
Mylan’s Q3 misses on $465 million Medicaid settlement
Shares in Mylan (NDSQ:MYL) rose slightly today after the pharmaceutical giant missed expectations on Wall Street with its 3rd-quarter results. The Canonsburg, Pa.-based company posted a net loss of -$119.8 million, or -23¢ per share, on sales of $3.06 billion for the 3 months ended Sept. 30, for a bottom-line slide of -3% on sales growth of 14.2% […]
Ocular Therapeutix plans FDA re-submission for Dextenza by end of year, earnings
Shares in Ocular Therapeutix (NSDQ:OCUL) surged this morning after the biopharmaceutical company met expectations on Wall Street with its 3rd-quarter results and announced it will re-submit its new drug application to the FDA for Dextenza, its post-surgical ocular pain reliever, by the end of the year. In July, the FDA denied approval for Ocular’s hydrogel plug designed […]
