With Baxter's bioscience division getting ready to spin out into an independent operation with an R&D base in Boston, the company has struck a deal to buy out SuppreMol for $225 million in cash. Baxter is planning to continue operating the biotech at its Munich facility, where SuppreMol has been working on new drugs for autoimmune diseases.
French biotech Genfit is considering putting itself up for sale, Bloomberg reports, citing people close to the situation who say the company's in-development treatment for a pervasive liver disease could bring buyers to the table.
Smith & Nephew was down 8% on the March 3 news that Stryker now has a massive $2.6 billion authorization available for share repurchases. That's a significant shift in strategy for Stryker, which has been highly acquisitive in the last few years and has long been rumored as a potential buyer for Smith & Nephew.
Becton Dickinson has acquired Crisi Medical Systems for an undisclosed sum. The San Diego, CA-based startup is the only provider of real-time drug identification, dose measurement and allergy detection data for manual IV bolus injections that wirelessly populates patient electronic medical records, according to BD.
On heels of Cordis acquisition, Cardinal Health CEO says he wants to keep growing in the device arena
Bloomberg TV 's Olivia Sterns asked the question on many people's minds when she asked the CEO of Dublin, OH-based Cardinal Health, George Barrett, why the drug wholesaler's purchase of devicemaker Cordis makes sense. "Where's the synergy?" she queried.
Stryker is signaling that it could hit the brakes on acquisitions after an aggressive string of at least a half-dozen purchases over the past few years, including the $1.7 billion purchase of robotic surgery player Mako Surgical in December 2013.
It's been less than a week since Mylan completed its deal with Abbott, scooping up a large chunk of the Illinois company's overseas generics business. But CEO Heather Bresch is already hinting at another big transaction.
Canon U.S.A. has established a subsidiary company devoted to its global biomedical business, Canon BioMedical. It's not the only camera company looking to med tech to fuel future growth; last week Nikon bought Optos for $400 million in a bid to establish its first outpost in the medical industry.
During the continued wave of life science M&A, companies are seeking to focus on core competencies. Once again, this trend has resulted in Boston Scientific snatching the medical device assets of a pharma company, this time from Endo International.
A Teva plant in Pennsylvania and hundreds of jobs have been spared the ax that the Israeli company has been swinging left and right as it cuts costs in the face of patent cliff issues. Instead, a family-owned business from New Jersey will acquire the Sellersville facility along with about two dozen drugs that are manufactured there.