Merck Coughs Up $500 Million for Afferent

by | Jun 15, 2016 8:00 am | Biotechnology, Pharmaceuticals

Merck & Co. (NYSE: MRK) added to its product pipeline with the $500 million acquisition Afferent Pharmaceuticals, a privately held biotechnology company in San Mateo, California. Afferent develops therapeutic candidates targeting the P2X3 receptor, for the treatment of common, poorly-managed neurogenic conditions. Afferent’s lead candidate, AF-219, is a selective, non-narcotic, orally administered P2X3 antagonist. It is currently being evaluated in a Phase 2b clinical trial for the treatment of refractory, chronic cough, as well as in a Phase 2 clinical trial in idiopathic pulmonary fibrosis with cough. Merck, which is known as MSD outside the United States and Canada, paid $500... Read More »

Lincare Sells Its Specialty Pharmacy Businesses

by | Jun 14, 2016 8:00 am | Other Services

Lincare Holdings Inc., the nation’s largest home health provider of oxygen and respiratory services, is selling its specialty pharmacy businesses, Acro Pharmaceutical Services, LLC and Community Pharmacy Services, LLC. Acro operates in 50 states, while Community Pharmacy Services serves a 340B drug program in the Philadelphia area. These businesses generated revenue of approximately $206 million in the fiscal year ended December 31, 2015. The acquirer is Premier Inc. (NASDAQ: PINC), a healthcare improvement company, agreed to pay an aggregate of $75 million in cash. The businesses generated revenue of approximately $206 million in the fiscal year ended December 31, 2015, for a... Read More »

Aspen Buys Rights to Anesthesia Portfolio

by | Jun 10, 2016 8:00 am | Pharmaceuticals

This isn’t a sleepy deal. AstraZeneca (NYSE: AZN) sold the ex-U.S. rights to its portfolio of seven established anesthesia medicines to Aspen Global Incorporated. Aspen Global is the holding company for Aspen Group’s (OTCBB: ASPU) international business that manages and maintains intellectual property rights, and regulatory and commercial strategies of a portfolio of specialist and branded products. The drugs are Diprivan (general anaesthesia), EMLA (topical anesthetic) and five local anesthesias (Xylocaine, Xylocard/Syloproct, Maracine, Naropin, Carbocaine and Citanest). Under terms of the agreement, AGI will acquire the commercialization rights, outside the United States, to... Read More »

MEDNAX and Team Health Keep Growing

by | Jun 9, 2016 8:00 am | Physician Medical Groups

TeamHealth Holdings (NYSE: TMH) is slowly getting back in its M&A groove, after the $1.6 billion acquisition of IPC Healthcare in August 2015. The company announced its second deal in 2016 on June 1, compared with four transactions announced in the first half of 2015. The latest target is Tri-City Emergency Medical Group in Oceanside, California. Tri-City Emergency Medical Group’s 25 physicians provide emergency medical care in north San Diego, treating approximately 70,000 patients annually through staffing and management of the Tri-City Medical Center emergency department. Financial terms were not disclosed. Meanwhile, MEDNAX (NYSE: MD) is keeping up with its 2015 acquisition... Read More »