Inovio Pharmaceuticals, AstraZeneca's MedImmune and the University of Pennsylvania have joined forces to study influenza and antibiotic-resistant bacteria, drawing on $12.2 million in federal funds.
Actavis seems to have a finger in every pie lately when it comes to pharma M&A, and rumor has it Omega Pharma's sales process is no exception.
Valeant's takeover partner, Bill Ackman, is not slowing down in his pursuit to land a deal for Allergan. But a key investor may no longer be quite so gung-ho.
Days after AbbVie recommended that shareholders vote against its proposed $55 billion deal for Shire, the company officially cut the cord and terminated its pending merger. And while Shire has big plans to succeed solo, AbbVie could face a few stumbling blocks without the Dublin-based company by its side.
At least one potential tax-inversion buyout target is pretty happy about the new deal-quashing rules: Actelion CEO Jean-Paul Clozel. In fact, he says, the slap at inversions is not just good for him and Actelion, but for the whole pharma industry.
Shire and AbbVie have formally called it quits on a planned $55 billion merger, leaving each company to get by on the merits of its own pipeline and talk up the benefits of life without the other.
While its merger with AbbVie is looking dead, Shire is likely in line for a $1.6 billion breakup fee, cash that could fund a major M&A push. And with renowned dealmakers in its executive ranks, Shire may not be lonely for long.
Valeant may have upped its Q3 revenue by 33% and beat analysts' bottom-line expectations--not to mention hiked its forecast for this year and next. But takeover target Allergan still isn't impressed. On the other hand, shareholders might be if Valeant hikes its hostile bid again, as its CEO now suggests.
The acquisition tightens BBK's ties to the team that helped to develop its patient and site engagement mobile app, My Clinical Study Buddy.
Breaking up is hard to do, and can be expensive. AbbVie is getting into record territory with the $1.635 billion breakup fee it will have to pay Shire for canceling their $55 billion deal.