Moody's Investors Service and Standard & Poor's Ratings Services are expected to downgrade Medtronic's debt due to the company's impending merger with Covidien. Under the new rules imposed by the Treasury Department, Medtronic will have to borrow $16.3 billion to fund the $43 billion transaction, as opposed to the initially planned $2.8 billion.
Abbott has made its move on a trio of med tech startups focused on cardiovascular catheterization. It is buying electrophysiology startup Topera for $250 million plus undisclosed milestones and has secured the right to purchase Advanced Cardiac Therapeutics, which has a novel ablation catheter. Plus, Abbott Ventures participated in a venture round for VytronUS.
Pfizer CEO Ian Read makes no apologies for his interest in working a deal to move his tax home overseas. Despite the U.S. government's attempt to discourage tax inversions--like the one Pfizer would have achieved by buying AstraZeneca--Read says he's not deterred.
Valeant's hostile bid for Allergan may soon be on the rise. But after posting strong Q3 results earlier this week, some analysts say Allergan's value is, too.
Alere continued down the path of deleveraging and refocusing on its core competency in diagnostics with the sale of its Alere Health unit to Optum, a part of the insurance company UnitedHealth Group for $600 million.
Mergers and acquisitions have been non-stop this year, with lots of deals done, and some doozies that were unable to cross the finish line. Here we look at what's happened in the first half of...
Wright Medical Group plans to merge with peer Tornier in an all-stock transaction designed to create a pure-play orthopedics extremities and biologics company valued at $3.3 billion. The resulting entity is expected to be a midsized growth company that's in what it says are the three fastest growing areas of orthopedics--upper extremities, lower extremities and biologics.
Novartis' 8-year foray into vaccines is officially coming to a close. After divesting the bulk of its unit to GlaxoSmithKline in an April deal, the pharma giant Sunday announced it had agreed to sell its flu shot business to Australia's CSL. And with that, it'll make its exit from a field that's given it trouble since its Chiron buyout in 2006.
Covidien conceded in an Oct. 24 filing with the federal Securities and Exchange Commission that it will likely divest some vascular assets so that the looming $43 billion mega merger with Medtronic can commence under antitrust law.
Drugmakers have been buying out OTC companies left and right lately. But would that demand apply to a Russia-focused consumer company, considering the recent slow-down in Russian investment? Unipharm is about to find out.