Abbott Laboratories is selling off one-third of the stake in Mylan it acquired through last year's stock swap, a few weeks after Mylan wrapped up its $5.3 billion buyout of Abbott's portfolio of specialty and branded drugs.
Royal Philips disclosed a long-awaited deal to sell off 80.1% of its interest in its LED component and Automotive lighting business for $2.8 billion with an additional contingent payment for up to $100 million. This deal will free up a lot of cash for Philips to invest in HealthTech, which combines its healthcare and consumer groups and was disclosed last September as the sole focus of the company going forward.
Fujifilm has dipped into its multibillion-dollar cache of buyout cash for the $307 million it needed to acquire Cellular Dynamics International, one of the pioneers in the stem cell research business.
Sanofi Chairman Serge Weinberg says his company can do without dealmaking. And good thing, Weinberg told Les Echos--because the potential buys on the market are too expensive.
Teva has been sitting on the sidelines for more than a year as its peers jumped head-first into a biopharma deal bonanza. But no longer: The Israeli company struck a $3.2 billion agreement to buy Auspex Pharmaceuticals, which will finally put it back onto the M&A map. And it's zeroing in on more deal targets, analysts say.
The European Commission is concerned that the $13.4 billion acquisition of Biomet by Zimmer will result in price increases due to reduced competition in orthopedic implants in the European Economic Area. In order to allay these fears, Zimmer has agreed to divest three businesses in specific European markets.
Ireland-based Horizon Pharma snatched up Hyperion Therapeutics for $1.1 billion to get its hands on the company's rare disease meds, diversifying its portfolio and expanding its footprint in the orphan drug market.
The M&A rumor mill was churning Friday morning on reports of an in-the-works Shire ($SHPG) deal for orphan drugmaker BioMarin Pharmaceuticals.
Shire is an acquisitive company with a focus on rare diseases. BioMarin fits the same description. A blog post that, by its own admission, "might be codswallop," reported that the former is considering buying the latter. And those three facts combined to send the shares of BioMarin, far from a penny stock, up as much as 15% on Friday, illustrating how the biotech boom has changed Wall Street's perception of the drug industry.
Hearing devices have not been among Medtronic's competencies--until now. The medical device giant has bought magnetic hearing implant startup Sophono for an undisclosed amount. Sophono's implant is the smallest and most effective at higher frequencies, according to the startup and Medtronic.