Otsuka's patent cliff is coming, with the expiration date on best-seller Abilify's IP shield just around the corner. But now, the Japanese pharma has signed a $3.5 billion agreement to pick up Avanir Pharmaceuticals that could help soften the blow.
Avanir has made something of a reputation for itself by mixing a pair of generics--a cough suppressant and an old heart medicine--into a new elixir that can calm an emotional outburst. And Japan's Otsuka has stepped in to snap up the company, its product and a pipeline of repurposed meds for a hefty $3.5 billion.
The U.S. Federal Trade Commission found only one antitrust wrinkle in the combo of the consumer health units of GlaxoSmithKline and Novartis and says it has been ironed out. Novartis will sell its Habitrol nicotine patch business so the new joint venture will not have too much market sway in pricing of nicotine patches in the U.S.
French company Danone hasn't had much luck so far hawking its medical nutrition business--and bidder Fresenius may be set to walk away, Reuters reports.
Medtronic scored EU regulatory approval for its $43 billion acquisition of Covidien, days after U.S. antitrust authorities signed off on the deal subject to certain conditions.
Swedish contract drug developer Recipharm has signed a deal to extend its reach into France, buying a new facility and partnering with a local firm.
Less than two weeks after losing longtime acquisition target Allergan--which happily sold itself to Actavis to dodge Valeant's hostile bid and the R&D cuts it feared would come along with it--the Canadian pharma is talking up the productivity of its own labs.
Forget the odds on Thanksgiving Day football games. What's your bet on Pfizer lodging another bid for AstraZeneca?
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.