Shire is enjoying the single life post-AbbVie breakup, touting its newly independent status and beefing up R&D. But if the company wants to beat its already ambitious sales goals, some strategic dealmaking could be on the horizon, CEO Flemming Ornskov says.
On Wednesday, Sanofi Chairman and acting CEO Serge Weinberg told the German publication Handelsblatt that the company is looking for growth in its veterinary products unit--and that the expansion could come in the form of acquisitions.
Cantel Medical is up about 30% this year on investor enthusiasm for its sales growth in endoscopy, as well as a brisk acquisition strategy. But its shares were down about 1% in early trading on Dec. 10 after the company reported first quarter earnings that missed expectations a bit.
Sanofi knows the pharma world is wondering what happens next, what with former CEO Chris Viehbacher riding off into the sunset. That's why Chairman and acting CEO Serge Weinberg is giving interviews these days. And according to his latest with Handelsblatt, the French drugmaker is shopping for deals in some steady-but-slower fields.
Mylan is charging full speed ahead with its $5.3 billion acquisition of Abbott Laboratories' overseas generics business. The drugmaker will shell out $32.5 million to 5 of its top executives ahead of schedule to avoid a tax penalty meant to discourage companies from shifting their domicile abroad.
Established medical diagnostic device company Welch Allyn has bought up all the assets of telehealth startup HealthInterlink in its first foray into remote patient vital sign monitoring. Welch Allyn sees this as an early step in investing in post-acute care monitoring outside of a hospital setting.
After serial acquirer Valeant lost a months-long takeover battle for Allergan, many industry-watchers expected the company to restore its dealmaking reputation with another quick pickup. But the Canadian pharma may be heading in the opposite direction.
Merck may have to rethink its math on the Cubist buyout. Announcing the $9.5 billion transaction Monday, the company pointed to an earnings bump beginning in 2016. But later in the day, a U.S. court nixed all but one of the patents covering its top seller, Cubicin--and that patent expires in 2016.
Luxembourg-based Eurofins Scientific agreed to buy Boston Heart Diagnostics, an advanced diagnostics provider, for $140 million, the company said.
Symmetry Medical's OEM Solutions business was acquired by Tecomet.