Despite the growth potential in Galenika's home country of Serbia, Valeant was the only suitor so far willing to enter a market rife with corruption. Now, it has backed out of its offer to buy the ailing state-run drugmaker amid agitation in Belgrade over privatization.
There's no shame in a company extending a bidding deadline in hopes of attaining a better offer. But after extending its deadline for the fourth time Thursday to June 14, Serbia's state-run drugmaker Galenika Pharmaceuticals may be starting to feel a bit unwanted.
After rumors of balked-at price tags and an in-the-making IPO, eye-care giant Bausch + Lomb will soon belong to Valeant Pharmaceuticals in exchange for $8.7 billion.
After agreeing to delay the launch of efinaconazole, a drug for treating a nail fungal condition, until after an arbitration hearing in September with Anacor Pharmaceuticals, Valeant Pharmaceuticals announced that its new drug application has been sidelined by the FDA over concerns tied to manufacturing.
Actavis has suddenly become the belle of the ball. The Wall Street Journal reports that Novartis is now entertaining a $16 billion bid for the generics maker after a $13 billion offer from Valeant and a $15 billion bid from Mylan both fell flat.
We thought Actavis had a love triangle going with potential merger partners Warner Chilcott and Valeant Pharmaceuticals, as an analyst dubbed it earlier this week. Now, news emerges that it's more like a love quadrangle, with rejections on two sides.
Valeant CEO Michael Pearson hasn't made a secret of his ambitions. He wants to be within spitting distance of Big Pharma. So, it probably shouldn't have been a surprise that he and Actavis chief Paul Bisaro were talking about a merger. And now, expectations are wide open.
Valeant Pharmaceuticals and Actavis are getting downright buddy-buddy. Less than a week after partnering up on three skin products, the two companies have wrapped up a patent fight over two others. The settlement sets launch dates for both copycat versions, and gives Valeant a share in the proceeds.
Valeant Pharmaceuticals is socking another $350 million or so into the dermatology business. It's picking up the skin-care company Obagi Medical Products for $344 million in a $19.75-per-share buyout--just a few months after closing its $2.6 billion deal for Medicis Pharmaceutical.
Will the talk of an Endo Health Solutions buyout wind down now that it has hired a new CEO? Or will the company's choice, Rajiv De Silva, step in to shepherd it toward a sale?