InterMune has already bet a big chunk of money on its idiopathic pulmonary fibrosis drug Esbriet (pirfenidone). Now, Roche is laying $8.3 billion on the table, too. The Swiss drugmaker agreed to pay $74 per share, in cash, for the biotech company, to add the lung treatment to its own respiratory stable.
Roche has won the behind-the-scenes auction for InterMune and its late-stage drug for idiopathic pulmonary fibrosis, announcing Sunday that it is buying up the U.S. biotech for $8.3 billion.
On Thursday, a judge ruled that an Allergan lawsuit against Valeant wouldn't delay a potential special meeting of Allergan shareholders, at which the Canadian pharma hoped to oust the Botox-maker's board and strike its takeover defenses. The news came not a moment too soon for Valeant, which now says it has successfully rounded up the support needed to call that meeting.
Covidien today announced the acquisition of privately held Reverse Medical, a provider of vascular devices, for an undisclosed sum.
Months removed from an intercontinental M&A dance that polarized investors and paralyzed executives, Pfizer and AstraZeneca will soon be free to start talking about a deal once more, provided the latter company is interested.
Pharma M&A action so far this year has been intense--so intense that if it keeps up the pace it could match the uber years of 2008 and 2010, maybe even the record year of 2009.
Corporate tax inversions, including Medtronic's planned shift to Ireland following its purchase of Covidien, are causing a backlash among some shareholders stuck with a big tax bill becaues of capital gains taxes associated with the deal.
Pfizer may not get a great shot at buying AstraZeneca this fall--but it's preparing to give it a try. Meanwhile, Bloomberg reports, the U.S.-based drug giant is looking at Actavis, the generics maker with a new home address in Ireland, among other targets.
Covidien and Medtronic announced more than 45 people will join a newly created team to tackle integration issues during their merger.
Allergan CEO David Pyott has hinted he might make a pickup to thwart Valeant's attempts to take over his company. And now that one-time target Shire is off the table after being snatched up by AbbVie, his sights may be set on Salix.