Delaware’s Supreme Court ruled last week to uphold a decision by the state’s Chancery Court that Fresenius (ETR:FRE) could walk away from its $4 billion merger with Akorn (NSDQ:AKRX). The initial deal was designed to help Fresenius move into new therapeutic areas and dosage forms, including eye drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius abandoned the […]
Fresenius cleared to jilt Akorn, court rules
The Delaware Chancery Court ruled this week that it can’t force Fresenius (ETR:FRE) to follow through with its $4.75 billion merger with Akorn (NSDQ:AKRX). The deal was designed to help Fresenius move into new dosage forms and therapeutic areas, including ophthalmic drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius walked away from the deal in April, […]
Fresenius fires back at Akorn with counterclaims following failed merger
Fresenius (ETR:FRE) filed counterclaims against generic drugmaker Akorn Inc. (NSDQ:AKRX) this week in Delaware Chancery Court, alleging that Akorn tried to defraud the FDA with falsified testing data. Akorn filed suit against Fresenius one day after the company walked away from a $4.75 billion deal to acquire Akorn. Fresenius cited an investigation that found material breaches of […]
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 […]
FDA’s Gottlieb updates on IV bag shortages after Hurricane Maria
FDA commissioner Dr. Scott Gottlieb expects that the shortage of IV fluids caused by Hurricane Maria in Puerto Rico will improve in the coming weeks and months, according to a statement issued by the agency yesterday. The regulatory chief said that the FDA is working with manufacturers like Baxter (NYSE:BAX) and B. Braun to import products […]
FDA wants Fresenius to hire a consultant to fix long-standing CGMP woes
The FDA issued a warning letter to one of Fresenius‘ (NYSE:FMS) drug manufacturing plants in India last week, citing concerns that the company has not adequately addressed a sterility problem noted during previous inspections. It’s not the first time that the Kalyani, India-based manufacturing firm has been hit with a warning. In its letter to […]
Fresenius Kabi to invest $100m in North Carolina manufacturing site
Fresenius (NYSE:FMS) business group Fresenius Kabi said today that it plans to invest more than $100 million over the next five years in a Wilson, N.C.-based manufacturing site. The company’s expansion project is designed to boost the facility’s capacity to produce generic medicines in pre-filled syringes, Fresenius reported. The expansion is also slated to increase the […]
Medtech stories we missed this week: Sept. 15, 2017
From Acera Surgical and Telos Medical’s partnership to Xtant Medical’s 510(k) clearance, here are seven medtech stories we missed this week but thought were still worth a mention. 1. Acera Surgical partners with Telos Medical for Restrata wound matrix trial Telos Partners announced in a Sept. 14 press release that Acera Surgical has chosen Telos to […]
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 […]
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 […]
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