Wannabe acquirer Teva has built up a 4.6% stake in generics rival Mylan--and that's enough for the newly Dutch pharma. Mylan's independent foundation--known in Dutch as a stichting--has exercised an option to acquire shares that let it control 50% of the company, part of its plan to fend off a hostile takeover.
Biotech's ongoing boom has inflated valuations for upstart drugmakers, and Eli Lilly CEO John Lechleiter said his company is wary of getting involved in any high-dollar bidding wars to bring in new treatments.
Contract drug developer Avista Pharma Solutions bought the manufacturing, development and animal health services business of rival Scynexis, building up its capacity to take a larger share of an expanding market.
Industry bigwig St. Jude Medical is discussing a buyout of specialist Thoratec, a maker of left ventricular assist devices, which give heart failure patients awaiting a donated heart a bridge to organ transplantation by pumping their blood in the meantime. Thoratec stock is up 18% to around $58 on the rumor, as of 3 p.m.
Don't get Horizon Pharma wrong. It intends to pursue Depomed as an M&A target whether the California company likes it or not. But it would prefer for Depomed to like it--and in an effort to spur a "friendly, negotiated transaction," it's raising its bid.
With its $800 million deal for Amoun Pharmaceutical, Valeant picks up what the Egyptian drugmaker says is one of the largest and most up-to-date pharmaceutical facilities in Africa and the Middle East.
Contract drugmaker AMRI paid $174 million for a Spanish manufacturing operation, part of the company's long-term plan to dial up its focus on production.
Stryker has only disclosed plans for two acquisitions this year--both for private, international, hospital bed makers. The latest is an all-cash deal for Turkish hospital bed, stretcher and patient room furniture and accessory maker Muka, which is headquartered in Kayseri, Turkey.
Last month, reports said Valeant was stepping up talks on a deal for one of Egypt's largest drugmakers. And now, it's pulled the trigger.
Contract drug developer AMRI bought Spain's Gadea Pharmaceutical for $174 million, picking up a company focused on the manufacture of active ingredients and finished treatments.