Yet another U.S. company is orchestrating a deal that will allow it to move overseas and slash its tax rate. Salix Pharmaceuticals of North Carolina says it will merge with an Ireland-based unit of Cosmo Pharmaceutical and buy out some of its patents for drugs to treat gastrointestinal diseases for $2.7 billion in stock.
With the help of U.K. investor Equistone, newly minted CRO Concept Life Sciences has snapped up three contractors and set out to do business as a conglomerate, scouting for clients looking to outsource scientific work.
Lately, OTC businesses have been selling like hotcakes, with a number of global consumer players looking to bulk up. Now, reports say Belgium's Omega Pharma could be the next to enter the deal arena with an OTC business worth more than $4 billion.
After three failed bids for Shire, AbbVie's hoping the fourth will be the charm. The Abbott spinoff has sweetened its offer, upping its price to £30.1 billion ($51.5 billion) to lure the Irish drugmaker to the bargaining table.
Intent on nailing a big Shire buyout, this morning AbbVie boosted its premium offer by 11%, bringing the total to some $51 billion.
Merz already committed to buying Ulthera for up to $600 million in cash and milestones. Now it will get another FDA-cleared indication as part of the bargain. The company's system has cleared the FDA to improve the lines and wrinkles of the décolleté.
Things are getting real in leading shareholder Pershing Square Capital Management's fight to overturn Allergan's board and install a new slate of directors more amenable to Valeant's $53 billion buyout offer. Monday, Pershing Square--run by Valeant's takeover partner, Bill Ackman--announced the proposed slate of 6 new directors it hopes will help it seal the deal.
As Covidien strides into a merger with Medtronic, the company last week announced the appointment of Bill Burke as CFO for Covidien Europe.
Ophthalmic CRO Ora is inheriting a relationship with drugmaker Nicox after the French outfit agreed to buy Aciex Therapeutics, a Boston-based biotech at work on eye treatments.
Contract developer AMRI has closed its $110 million acquisition of drug manufacturer Oso Biopharmaceuticals, its second deal this year and one the company believes will help pad its annual revenue.