The sterile injectables business holds promise for drugmakers with the manufacturing capabilities to produce the difficult-to-make drugs. Deals announced Wednesday by Pfizer and Sun Pharma were proof positive of how companies think they can cash in on the generics piece of this sterile injectables market.
The fervor over American companies merging with overseas rivals to lower their tax rates has drawn the ire of the Obama Administration, possibly imperiling the so-called inversion deals that have become increasingly popular in biopharma.
OTC generics maker Perrigo could be the next tax-advantaged company in line for a buyout. And while Perrigo hasn't confirmed any M&A plans, speculation has been enough to send shares soaring.
Wall Street analysts took advantage of a conference call on Abbott's just-announced sale of its developed market generics business to ask about some of their favorite topics, future M&A and the recent onset of tax inversion mania among life science companies.
St. Jude Medical signed on the dotted line to acquire interventional pain management therapy manufacturer NeuroTherm for approximately $200 million in cash, strengthening its foothold in the chronic pain market.
Following the $5.3 billion sale of Abbott Laboratories' developed market generic drugs business to Mylan, diagnostics and devices will account for the majority of the company's sales, while pharmaceuticals' contribution to company-wide sales will stand at about 15%, based on 2013 earnings.
Add a new set of pricing foes for Gilead Sciences). A U.S. Senate committee has joined the forces arrayed against the company's breakthrough hepatitis C drug Sovaldi and its $84,000 price tag.
Look who's talking. After four takeover bids from AbbVie, target Shire is finally in discussions with the Illinois drugmaker. And those have yielded yet another improved offer--a $53.7 billion bid Shire says its board would back.
There's a whiff of inevitability with AbbVie's quest for Shire, as the latter company has confirmed that the two have found an agreeable price, setting the stage for a potential merger worth about $53.7 billion.
Mylan has been hunting for a buy. Now, it's found one. The Pittsburgh-based generics specialist is buying a big chunk of Abbott Laboratories' drug business, in a stock swap worth $5.3 billion. With $2 billion in annual sales, the products would jack up Mylan's top line by almost 30%.