Turns out it may not be just Bayer's plastics business that's on its way out the door. The company is reportedly exploring a sale of its diabetes device business as it rides pharma's slim-down wave.
Bayer hopes to sell its ailing diabetes device unit to help bolster growth and fund a potential acquisition of Zoetis. The conglomerate would like to focus more closely on medicines, which has been a faster growth area than devices.
Will they or won't they? That question seems to be on quite a few minds these days as the oddsmakers assess the chances of another Pfizer megamerger bid for AstraZeneca after the U.K.'s cooling off period ends on Wednesday.
Actavis has a lot to do as it works to bring new acquisition Allergan into the fold. And finding ways to grow the California company's products in China is high on the list.
Once Bayer raises the billions it anticipates from an IPO of its plastics business, it plans to pay off debt. But after that? Expect some OTC acquisitions, the company's CEO says.
The clock is about to strike 6 months since Stryker expressed interest in acquiring Smith & Nephew, only to be dissuaded by a rise in that company's stock price once news of the potential deal broke out. And so begins the speculation that Stryker will actually make a bid on the fellow orthopedics company this time around.
Ohio-headquartered CRO Ricerca Biosciences can put off its liquidation plans, as the company has found an acquirer to keep its doors open just ahead of a self-imposed deadline.
Pet retail giant Petco of San Diego announced Wednesday that it is acquiring online and catalog company Drs. Foster & Smith, which is owned by veterinarians and based in Wisconsin.
The European Commission was scheduled to rule on Zimmer's planned acquisition of fellow orthopedics company Biomet by March 11. Now the deadline has been extended by a "limited number of days," Zimmer says.
Medtronic's fastest growing business is in diabetes, which gained 10% to $430 million in the most recent quarter over a year ago. Now the medical device giant is looking to expand beyond its dominance in Type 1 diabetes that is based on the success of its insulin pump MiniMed. During an earnings call, Medtronic disclosed that it reorganized its diabetes group last quarter.