CRO BioClinica inked a deal to acquire MediciGroup, a patient recruitment and retention outfit that uses technology to keep subjects engaged in trials and minimize dropouts.
Despite inking its deal to buy Ireland's Vidara Therapeutics at the height of the U.S. tax inversion backlash, former Illinois company Horizon Pharma didn't back down. It closed its acquisition right before new, stricter tax inversion rules took hold--and now, as it embarks on a hostile pursuit of California's Depomed, it's reaping the benefits in more ways than one.
Chinese medical device player Mindray Medical was down 7% in early trading on the news that it would acquire the remaining stake of orthopedics player Wuhan Dragonbio Surgical Implant Co. Mindray first gained a controlling stake in Dragonbio for $35.5 million in 2012. Investors may be taking the deal as a sign that a June take-private offer is now off the table. The deal is slated to close this month.
Drugmakers can't be excited about the wave of consolidation going through the health insurance business. After all, pharma knows firsthand how mergers can put the screws to prices; just think of Express Scripts and its Medco buyout.
Last week, analysts pointed out that Horizon Pharma had plenty of potential buyouts to choose from, unlike bigger companies looking for bigger deals. Now, the $5 billion market-cap company has zeroed in on a target: Depomed, the pain drug specialist.
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.