Valeant CEO J. Michael Pearson has turned his company into a force in a buying spree that he most recently topped off with the $8.7 billion deal that snagged Bausch + Lomb. But sometimes you can buy trouble.
With Valeant Pharmaceuticals forking over $8.7 billion for eye-care giant Bausch + Lomb and Amgen's $10.4 billion deal for Onyx Pharmaceuticals, this could be a comeback year for pharma M&A, even as the drug approval rate remains healthy.
According to a new report from consultant PwC, there was a decline in the two Vs--volume and value--after some big deals in the first quarter pushed both of those up.
There's been a lot of talk about a dearth of innovation in the pharma business. But some drugmakers don't lack creativity. In fact, a few of them actually made Forbes' latest list of 100 most innovative companies on the globe.
Fresh off closing its $8.7 billion Bausch & Lomb buyout, Valeant Pharmaceuticals expects more acquisitions as 2013 wears on. And why not? So far this year, the company's sales are up 40%, thanks to several good-sized deals.
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.