Deals
Eli Lilly continues to spend its GLP-1 landfall with four new deals in the past week, including three in the vaccine space; the obesity leader also touted surgery-like results for its next-gen weight loss drug; Moderna’s stock climbs on the hantavirus “fear trade”; and in oncology, all eyes are on Revolution at ASCO this week.
FEATURED STORIES
European pharma companies splashed billions of dollars into the U.S. biopharma sector in a matter of days, but there are differing views on whether the activity represents the rise of a new buyer class or a quirk of timing.
After years of suffering from a bear market and more than 14 months of geopolitical turmoil shaking the macroenvironment, biotech appears to be moving on.
With six acquisitions already this year, Eli Lilly’s business development shows no signs of stopping as executives make good on a promise to spend their GLP-1 gains.
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Shares of SteadyMed Ltd. have skyrocketed more than 77 percent in premarket trading today after United Therapeutics announced it will acquire the company for a total of $216 million, including $75 million in contingent consideration.
Only days after UK-based Mereo BioPharma canceled its plans for an initial public offering (IPO) on the Nasdaq Global Market, Framingham, Massachusetts-based Alzheon dropped its IPO plans.
Paris-based Sanofi reported mixed first-quarter revenues, with net sales down 8.7 percent to 7,898 million euros. But Sanofi Genzyme sales were up 16.2 percent, mostly the result of its new immunology franchise.
Mereo pulled its planned initial public offering (IPO) on the Nasdaq Global Market, saying market conditions were not in the best interests of its shareholders. The company’s statement is getting some pushback from investors and analysts.
Takeda Pharmaceutical has come back with an improved bid for Shire, making it the fifth round of talks.
One month after filing for bankruptcy anti-obesity company Orexigen Therapeutics, Inc. could be acquired by the newly-formed company Nalpropion Pharmaceuticals, Inc. for $75 million in cash.
Almost one year to the day after Fresenius plunked down $4.3 billion to acquire Illinois-based Akorn Pharmaceuticals, the German company announced it was walking away from the deal.
Takeda Pharmaceutical has come back to the bargaining table with a juicier bid for Shire. Yesterday, Takeda’s $60 billion-plus bid for Shire took an odd turn late yesterday when Dublin, Ireland-based Allergan was reported to be in talks with Shire as well. However, by the end of the day, Allergan had stated that it “does not intend to make an offer for Shire.”
Pfizer’s consumer health business has been spurned again. This time by mega-consumer goods company Proctor & Gamble. which opted today to acquire Germany-based Merck KGaA’s consumer health unit for $4.2 billion.
Takeda Pharmaceutical has made an official bid to acquire London’s Shire for about $60 billion. And in breaking news, Shire rejected the bid, saying it undervalued the company.