Bill Ackman's relationship with Valeant has paid off big-time since the hedge fund manager first teamed up with the Canadian pharma on its hostile pursuit of Allergan. And this time, it's an investment in Sprout Pharmaceuticals--Valeant's latest pickup--that's bringing in the bucks.
Rare disease biotech Raptor Pharmaceutical signed a deal to pay up to $418 million to Tripex Pharmaceuticals in exchange for an inhaled treatment for cystic fibrosis.
Novartis is paying GlaxoSmithKline as much as $1 billion for the rights to a mid-stage multiple sclerosis treatment, betting it can develop an heir to the blockbuster Gilenya, soon to lose patent protection.
Roche has been hot on the dealmaking trail this past year, snatching up smaller companies to boost its portfolio. In its latest round of M&A, the diagnostics giant is acquiring Kapa Biosystems, getting its hands on the company's next-generation sequencing (NGS) products to further build out its offerings.
Concept Life Sciences, a CRO pieced together through a string of acquisitions, has inked a deal to acquire a toxicology-focused contractor, looking to expand its palate of drug development services.
That didn't take long. Just one day after Sprout Pharmaceuticals won a controversial FDA approval for new female libido drug Addyi (flibanserin), serial buyer Valeant has agreed to buy the company.
A little more than a day after little Sprout Pharmaceuticals won a controversial FDA approval to market Addyi (flibanserin) as a new drug that can help inspire sexual desire among women, Valeant Pharmaceuticals announced a deal to acquire the one-drug company in a $1 billion buyout.
Horizon has criticized Depomed's directors for refusing to come to the table, despite its attempts to "engage in good faith" over a combination of the two companies. Now, though, it's got some new directors in mind who it thinks will see things differently.
The typically conservative credit rating agency Moody's Investors Service has raised its outlook for the U.S. medical products and devices industry to positive from stable. The firm said it expects to see solid earnings growth over the next 12 to 18 months from the industry.
Sharpening its edge in diagnostics is core to the revenue growth strategy at Roche. The biopharma's deal activity in the last week is certainly a testament to that. It will acquire Kapa Biosystems, which provides enzyme optimization for next-gen sequencing and PCR.