A Securities and Exchange Commission filing from Aug. 6 disclosed that Boston Scientific received a subpoena from the U.S. Attorney for the District of New Jersey regarding its acquisition of Bridgepoint Medical, leading to a sharp decline in trading.
U.S. drugmakers have embraced the tax inversion strategy with open arms as of late, buying up foreign companies right and left and hauling overseas to take advantage of their lower rates. But U.S. officials are looking to stop them in their tracks--an intent that has some pharma investors worried.
St. Jude Medical finalized its acquisition of interventional pain management therapy manufacturer NeuroTherm, gaining ground in a highly competitive neuromodulation market and expanding its chronic pain portfolio.
A couple of things happened this past week to set off new chatter about a Pfizer megadeal. First, GlaxoSmithKline posted disappointing earnings and cut its full-year forecast, sending its stock into the dumpster--and its market cap tumbling. Then, Berenberg analysts issued an investor note extolling the potential virtues of a Pfizer-GlaxoSmithKline combo. Let the speculation continue.
Tax inversions are one of the hottest trends in biopharma. But with lawmakers unable so far to reach a deal on new legislation, the Obama administration is signaling that it wants to put a stop to it--now. And it's looking for a way to go it alone, leaving lawmakers on the sidelines.
Shedding noncore assets is the trend du jour in Big Pharma, and now another company may be jumping on the bandwagon. Belgium's UCB is reportedly looking into a sale of Kremers Urban Pharmaceuticals, its Princeton, NJ-based generics unit.
Bill Ackman hasn't rounded up enough support to call the special meeting of Allergan shareholders that's crucial to Valeant's buyout bid. But now, he's got a proxy advisory firm to back his cause.
Minnesota's MGC Diagnostics has completed its acquisition of a promising Belgian competitor, putting its plan for global expansion in place less than a month after the M&A deal was first announced.
Roche's European-based R&D arm pRED has closed a deal to buy Denmark's Santaris Pharma, paying $250 million upfront with another $200 million up for grabs in potential milestones if the research pays off. The deal marks a big increase in Roche's bet on RNA-targeting drugs, a research sector it exited with great fanfare several years ago as experts debated the potential for the field.
Biotech startup Enumeral Biomedical has pulled off a deal that gives it $21.5 million in financing and access to public markets, paving the way for early-stage work on some cancer immunotherapies.