Mergers & acquisitions
Despite a decline over the past year of class-action lawsuits, life science companies remain a popular target for securities fraud litigation.
On January 3, Bristol-Myers Squibb announced it was buying Celgene for $74 billion. This would create a giant company with a significant pipeline focused on oncology, inflammatory and immunologic diseases, and cardiovascular disease. As the companies release their fourth-quarter results, more details about the combined companies’ plans are emerging.
Since taking over the helm of GlaxoSmithKline in 2017, Chief Executive Officer Emma Walmsley has made some significant moves to redefine the company as one focused on the development of pharmaceuticals.
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Not only will a company use a significant amount of capital to make the acquisition, but there are longer-term issues, such as the merging of two company cultures, Franz said in an interview with CNBC.
BioNTech AG inked a deal with Munich, Germany’s MAB Discovery GmbH to acquire MAB’s operational antibody generation unit. No financial details were disclosed.
After the change of name to Meidrix Biomedicals GmbH, the business areas will be continued and further expanded
GlaxoSmithKline plc today announced that it has successfully completed the acquisition of TESARO, Inc. an oncology-focused company based in Waltham, Massachusetts, for an aggregate cash consideration of approximately $5.1 billion (£4.0 billion).
Now that Bristol-Myers Squibb is acquiring Celgene, the company will largely disappear into Bristol-Myers Squibb, but a legacy of bold risk-taking and questionable price hikes remain.
The two companies inked a non-disclosure agreement on December 22, 2018 and amended it a day later. One of the things apparent is that the companies wanted to make a splash at the JPM conference.
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