After serial acquirer Valeant lost a months-long takeover battle for Allergan, many industry-watchers expected the company to restore its dealmaking reputation with another quick pickup. But the Canadian pharma may be heading in the opposite direction.
Merck may have to rethink its math on the Cubist buyout. Announcing the $9.5 billion transaction Monday, the company pointed to an earnings bump beginning in 2016. But later in the day, a U.S. court nixed all but one of the patents covering its top seller, Cubicin--and that patent expires in 2016.
Luxembourg-based Eurofins Scientific agreed to buy Boston Heart Diagnostics, an advanced diagnostics provider, for $140 million, the company said.
Symmetry Medical's OEM Solutions business was acquired by Tecomet.
Merck is shelling out $9.5 billion for antibiotics specialist Cubist Pharmaceuticals, joining the wave of major drugmakers with a renewed interest in anti-invectives.
Merck & Co. is betting almost $10 billion on beefing up its antibiotics business. The U.S. drugmaker said it agreed to buy Cubist Pharmaceuticals for $102 per share, or about $8.4 billion, plus $1.1 billion in net debt, for a total transaction value of $9.5 billion. The buyout is part of Merck's plan to zero in on its most promising businesses and scale back the rest.
With a months-long hostile pursuit from Valeant and failed talks to buy North Carolina's Salix, Allergan had already been on an M&A roller coaster this year before finally agreeing to sell itself to Actavis last month. And options traders, for one, are afraid the ride's not over yet.
To address the European Commission's concerns about its proposed $13.4 billion acquisition of Biomet, Zimmer Holdings has proposed the divestiture of "one unicompartmental knee brand and one elbow brand" in the European Economic Areas as well as "one total knee brand" in two European countries.
British healthcare group BTG is snatching up interventional pulmonology outfit PneumRx in a deal worth up to $475 million, getting its hands on the company's device for severe emphysema and diversifying its product offerings.
Avanir, which agreed to sell itself to Otsuka earlier this week for $3.5 billion, may have been able to snag another price, some analysts figure. Problem is, it may too late to do anything about it.