A higher price could get a deal done between Pfizer and AstraZeneca if British regulators play along, but investors aren't convinced that would be a particularly good outcome for either company. The two pharmas aren't far apart on price, and any renewal of negotiations could come as early as August.
The leader of the looming integration effort facing Medtronic and Covidien stressed "balance sheet flexibility" as one of the main drivers of the $43 billion mega deal, and said it will lead to more M&A activity in early stage companies, although some investors disagree.
AbbVie may be working with some of the same advisers who worked on Pfizer's so-far-failed play for AstraZeneca. But after three rejections from target Shire--the latest totaling about $46.5 billion--it's not about to make Pfizer's same mistakes.
About a year after it was outbid for skincare company Obagi by Valeant, Germany's Merz announced June 26 another play to to boost its aesthetics niche, this time involving devices. Merz is acquiring ultrasound company Ulthera, provider of the only nonsurgical, FDA-cleared treatment for facial skin tightening, for $600 million.
Shire CEO Flemming Ornskov, having already promised to double revenue by 2020, is making the rounds on a mission to convince investors that saying no to a $46 billion bid from AbbVie is the best move for his company's future.
Back in April, Sanofi was said to be considering some spring cleaning, weighing a sale of older products to make room for the bolt-on deals CEO Chris Viehbacher wants to make. Sanofi appears to be heading down that path; the pharma giant is in the "very early stages" of weighing a sale of its older meds, Reuters sources say.
Eli Lilly & Co. won't be needing pepper spray to fend off unwanted suitors. That's not because it lacks charm or offers few attractive assets, Bernstein analyst Tim Anderson says. A quirk in Indiana law protects the drugmaker from hostile takeovers.
Auxilium Pharmaceuticals is merging with Canadian biotech QLT in an all-stock deal designed to both expand its pipeline and slash its corporate tax rate.
Diversified conglomerate Danaher emphasized organic growth rather than acquisitions at a recent investor meeting. That's despite much speculation on its M&A appetite following the Medtronic announcement that it will acquire Covidien.
Tuesday, Valeant CEO J. Michael Pearson said his company was close to luring the 25% of Allergan investors it needs to call a special meeting, where it believes it can shake up Allergan's board and dismantle its poison pill defense to make way for a takeover. And now, the Canadian pharma may have just picked up some more support.