Mergers & acquisitions
Chinese interest in the J&J unit comes as the market for diabetes care in China is expected to grow rapidly.
The rumors have caused Juno’s stock to rocket more than 50 percent to $68.80 in premarket trading.
Speculation around a possible bid has mounted in recent months.
Many investors and analysts expect that the changes to the corporate tax code will lead to increased merger and acquisition activity in 2018.
Lilly’s CEO noted at JPM that the recent tax changes should free up cash for more M&As.
The portfolio consists of acute, chronic and oncology products.
A look at why these two biopharma companies could have targets on their backs.
Fosun Pharma acquired China rights to market a novel treatment for Parkinson’s disease from Bial in an $18M agreement. BIAL developed Ongentys as a once-daily adjunctive therapy to levodopa/DOPA decarboxylase inhibitors.
Nestle submitted the highest offer and Merck was likely to select a winner during the first quarter, but might also choose not to sell the assets after all.
GlaxoSmithKline CEO Emma Walmsley is eying a big acquisition to spur revenue growth but is making sure that her company will not overpay.
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