An Indian high court on Friday quashed India's income tax department's claim that Sanofi owed more than $185 million in capital gains tax in relation to its 2009 buyout of Shantha Biotechnics.
For years now Big Pharma's deep pockets have provided the big bucks needed to drive multibillion-dollar deals in biopharma--and quite a few of the smaller ones as well.
Mergers and acquisitions by drug companies were off big time this year, down by 35% overall. Much of what is getting invested is targeted at emerging markets, with China not surprisingly leading the list.
The hot M&A trend in the biopharma industry is keeping federal securities regulators hopping with a surge in insider trading cases. The most recent instance deals with a case that started when a director of Chattem told his accountant that Sanofi was about to buy the company.
The two generics makers shook hands on a deal in which Sun agreed to buy Taro for $39.50 per share in cash.
Venture deals may be well off the pace set in 2011, but even a casual observer of the biotech industry could tell you that M&A is way up. Now Credit Suisse has stepped up with a new set of figures to back up the trend, noting that we haven't seen these kinds of numbers since Roche bought out Genentech for $46.7 billion in 2008.
A deal to purchase Cetero was finalized June 20 and the CRO has been renamed the PRACS Institute.
After establishing itself in southeastern Europe, Zeincro Group is ready to expand its reach on the Continent. The CRO announced that it has consolidated with another European CRO, Trial Masters, and in turn, is expanding its services to Hungary and Romania.
A Swiss pharmaceutical supplier has laid out more than $58 million in cash to acquire Allied Medical Products and get into the custom market for sterile filling services.
With Medtox at its disposal, the diagnostic giant LabCorp hopes to strengthen its own work in providing toxicology services.