Actavis and Allergan have come to terms on a buyout that values the Botox maker at $66 billion, dwarfing a bid from Valeant and William Ackman that forced the biotech into play. And it gives Actavis CEO Brent Saunders exactly what he's been looking for: Bragging rights to top 10 status in the Big Pharma world--after brushing aside a weakening Eli Lilly.
With Pfizer's eligibility to bid again for AstraZeneca nearing, the drug giant seems unlikely to make another run at its one-time target, industry-watchers say. But that doesn't mean it isn't prepping a run at someone else.
AbbVie can count this among the consequences of canceling its Shire buyout: Deal-focused hedge funds are losing investors.
Heads up, Valeant. Actavis is reportedly in talks to snatch up Allergan--and word is it could happen quickly.
Ex-Apple CEO John Sculley sees the mobile health market as the future patient-preferred healthcare option
Rumor has it, thanks to potential white knight Actavis, Bill Ackman and Valeant face a serious threat to their Allergan hostile bid. But Ackman may already be preparing for another move.
Medtronic's $43 billion acquisition of Covidien has become increasingly expensive, requiring the medical device giant to borrow more than $16 billion, the company said in a massive regulatory filing.
Medtronic submitted concessions to the European Union regulatory commission last Friday. The antitrust authority will decide by Nov. 28 whether to clear the deal.
In an interview with Investor's Business Daily, Shire CEO Flemming Ornskov hints that he'd like to do something similar to the $4.5 billion ViroPharma acquisition, which added a new product to the portfolio while helping spur sales of an existing drug.
Post-Shire-breakup, AbbVie CEO Richard Gonzalez says his company will be scouting about for other "strategic" M&A hookups. But Shire chief Flemming Ornskov isn't interested in courting another buyer.