No Shire? No problem for AbbVie. At least, for now.
The long-anticipated acquisition of Biomet by Zimmer Holdings is almost slated to close. The resulting entity will be known as Zimmer Biomet; it has already unveiled a planned new organizational structure and an executive team that draws heavily on the soon-to-be-incorporated Biomet. The deal to create this musculoskeletal giant is expected to close during the first quarter of 2015.
Deal-hungry Perrigo is looking for more seats at the over-the-counter table, and the drugmaker may soon get its wish. The company has entered exclusive talks to acquire Belgian OTC maker Omega Pharma, inching past big-name competitors like Sanofi, Actavis and Boehringer Ingelheim.
Moody's Investors Service and Standard & Poor's Ratings Services are expected to downgrade Medtronic's debt due to the company's impending merger with Covidien. Under the new rules imposed by the Treasury Department, Medtronic will have to borrow $16.3 billion to fund the $43 billion transaction, as opposed to the initially planned $2.8 billion.
Abbott has made its move on a trio of med tech startups focused on cardiovascular catheterization. It is buying electrophysiology startup Topera for $250 million plus undisclosed milestones and has secured the right to purchase Advanced Cardiac Therapeutics, which has a novel ablation catheter. Plus, Abbott Ventures participated in a venture round for VytronUS.
Pfizer CEO Ian Read makes no apologies for his interest in working a deal to move his tax home overseas. Despite the U.S. government's attempt to discourage tax inversions--like the one Pfizer would have achieved by buying AstraZeneca--Read says he's not deterred.
Valeant's hostile bid for Allergan may soon be on the rise. But after posting strong Q3 results earlier this week, some analysts say Allergan's value is, too.
Alere continued down the path of deleveraging and refocusing on its core competency in diagnostics with the sale of its Alere Health unit to Optum, a part of the insurance company UnitedHealth Group for $600 million.
Mergers and acquisitions have been non-stop this year, with lots of deals done, and some doozies that were unable to cross the finish line. Here we look at what's happened in the first half of...
UPDATED: Wright, Tornier merge in $3.3B inversion deal to create extremities and biologics pure play
Wright Medical Group plans to merge with peer Tornier in an all-stock transaction designed to create a pure-play orthopedics extremities and biologics company valued at $3.3 billion. The resulting entity is expected to be a midsized growth company that's in what it says are the three fastest growing areas of orthopedics--upper extremities, lower extremities and biologics.