European Union regulators approved the sale of Novartis' animal health business to Eli Lilly in a deal worth $5.4 billion that is expected to propel the U.S. drugmaker closer to the front of the veterinary products line.
Alere management is in advanced talks to sell its health management business, according to Reuters. In August, the diagnostics player had said it would do so before year-end as part of an ongoing strategic review aimed at returning the company to revenue and earnings growth.
Private drugmaker Arbor Pharmaceuticals is looking for a buyer, according to Reuters, going on the market with a price tag that could exceed $1 billion.
It's a good time to be a specialty drugmaker--especially one looking to sell itself. And that's the position Arbor Pharmaceuticals is reportedly in right now.
Medtronic announced that it will fund its $43 billion acquisition of Ireland's Covidien using $16 billion in external financing instead of capital from its foreign subsidiaries. The tweak is in response to Treasury Department rules designed to discourage inversions.
Chalk up a victory for the U.S. Treasury Department, whose new rules put the kibosh on Salix Pharmaceuticals' tax inversion deal for Cosmo's Irish unit. Instead, the North Carolina company is reportedly in talks to sell itself--but to Actavis, not Allergan.
The European Union's antitrust unit is worried that Zimmer's $13.4 billion bid for crosstown rival Biomet will limit competition and wants to look into the deal further.
Specialty drugmaker Salix Pharmaceuticals is backing out of a $2.7 billion deal that would have given it an Irish domicile--and thus a lower tax rate--in the first victory for U.S. leaders working to discourage such transactions.
In a diversification bid, Charlotte, NC-based Carlisle Companies purchased Singapore's LHi Technology, a device industry supplier focused on cable manufacturing, for $195 million.
Tuesday, Valeant Pharmaceuticals said the FDA had served up a warning letter about its Sculptra Aesthetic manufacturing, citing problems it observed during a June 2014 inspection. The missteps from manufacturing standards might just fuel the fire from hostile buyout target Allergan.