Last month, Mylan Chairman Robert Coury challenged suitor Teva to either put up a formal bid or step aside and let his company proceed with its plan to pursue its own target, Perrigo. And he may be getting what he asked for.
Allergan will acquire clinical-stage dry eye device startup Oculeve for $125 million plus undisclosed commercial milestone payments tied to lead program, OD-O1. The somewhat stealthy startup came out of the Stanford Biodesign program and counts Kleiner Perkins Caufield & Byers, New Enterprise Associates and Versant Ventures among its investors.
Allergan has scooped up a med tech startup with an innovative treatment for dry eye disease, paying $125 million up front for the rights to a tiny device designed to spur tear production.
What's with all the M&A rumors floating around in the animal health world? Just look at Zoetis' Apoquel and it's clear why Big Pharma names are keen to bolster their positions in the space.
Just two months after hiring Bank of America to explore a selloff of its medical-equipment unit, distributor Patterson Companies has found a buyer. The Minnesota company announced on Wednesday that it will be selling Patterson Medical to private equity firm Madison Dearborn Partners for $715 million. The deal is expected to close next quarter.
Patterson Companies is up almost 2% on news that it plans to sell its medical business to private equity firm Madison Dearborn Partners for $715 million in cash. The company has been looking to sell this unit, which is focused on physical rehabilitation products, in order to focus more closely on its higher growth businesses in dental and animal health.
More than a few analysts and company executives are watching Indian drug companies in expectations of consolidation among smaller players and possibly daring moves by mid-cap and larger at home and abroad.
Whether animal health leader Zoetis receives any more buyout offers after Valeant's reported approach remains to be seen. But if it does, Bayer's leaders insist a competing bid won't be coming from them.
Earlier this year, Boehringer Ingelheim said it was considering selling its U.S.-based generics business for up to €2 billion ($2.2 billion) to lighten its load and focus on drug development. Now, the company is moving one step closer to a sale as companies such as Hikma Pharmaceuticals, Mallinckrodt and Perrigo approach the bidding table.
Consultants tell Reuters that large Indian companies are heeding the warnings from regulators and investing more in equipment and training. But some small to medium-sized companies are considering whether to pour money into their operations, retreat from high-profit but regulatory-heavy markets like the U.S. and Europe, or cash out.