Deals
Apogee’s pipeline in a product drug zumilokibart achieved significant disease clearance in a mid-stage atopic dermatitis trial, but investors were miffed by a royalty financing deal with Blackstone.
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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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The deal is expected to close in the first quarter of 2018.
Pfizer acquired China/Asia rights for Cresemba, an antifungal drug developed by Swiss pharma Basilea, in a $226M deal.
Esaote S.p.A., an Italian medical imaging company, has been acquired by a group of China investors.
Medtronic confirmed that it bought Crospon but declined to disclose the value of the deal.
GlaxoSmithKline will scout for deal opportunities in cancer medicine, as well as immunology, as the drugmaker seeks to rebuild its presence in oncology, its new head of pharmaceuticals told Reuters.
The company indicates it plans to continue to manage and operate under the bankruptcy filing while it works with Cowen and Company to develop a plan forward.
Despite a purge of the leadership team at Alexion, a key investor believes the company needs to do more in order to address its damaged reputation and lift its stock price.
Sucampo has received takeover interest, although there are no hints about who has shown an interest.
With the raise, the company’s market valuation is currently $1.7B.
Gilead will pay an upfront payment of $175M, with additional milestone payments of up to $322M.