Lundbeck Acquires Longboard Pharmaceuticals for $2.6 Billion
H. Lundbeck A/S, a specialty pharmaceutical company, announced that it acquired Longboard Pharmaceuticals. Longboard shareholders will be offered a payment of $60 per share in cash. The transaction is valued at approximately $2.6 billion equity value and $2.5 billion (approximately DKK 17 billion) net of cash, on a fully diluted basis. The cash consideration represents a 77% premium to the 30-day volume-weighted average price of shares of Longboard common stock as of September 30, 2024. Longboard is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases. Longboard’s small molecule product candidates are based... Read More »
Siemens Buys Novartis’s Nuclear Diagnostics Segment for $223 Million
Siemens Healthineers announced it acquired Advanced Accelerator Applications S.A. (AAA) for $223 million from Novartis AG. AAA, a radiopharmaceutical company, develops, produces and commercializes molecular nuclear medicines including Lutathera® (177Lu-DOTATATE), a first-in-class RLT product for neuroendocrine tumors. Radiopharmaceuticals are unique medicinal formulations containing radioisotopes which are used clinically for both diagnosis and therapy. Novartis bought AAA in 2017 for $3.9 billion. Siemens Healthineers manages a portfolio of products and services in areas of diagnostic and therapeutic imaging and in laboratory diagnostics and molecular... Read More »
Visiox Pharmaceuticals Merges with Ocuvex Therapeutics
Columbus, Ohio-based Visiox Pharmaceuticals announced on August 20 that it entered into a definitive merger agreement with Ocuvex Therapeutics, Inc. Ocuvex Therapeutics is a privately held ophthalmic pharmaceutical company focused on developing and commercializing novel therapies for glaucoma and other disorders. It boasts a pipeline of near-term ophthalmic medicines. Visiox Pharmaceuticals is a privately funded biopharmaceutical company focused on the development and commercialization of ophthalmic therapeutic candidates to address highly prevalent diseases in need of new treatment options. Visiox’ products, including OMLONTI® (omidenepag isopropyl ophthalmic solution), PDP-716... Read More »
Recursion and Exscientia Merge
On August 8, Recursion and Exscientia announced plans to merge. The combined company is estimated to achieve annual synergies of approximately $100 million with a runway extending into 2027. Exscientia is a global pharmatech company using patient-first artificial intelligence to discover better drugs. Exscientia combines precision design with integrated experimentation, aiming to invent and develop the best possible drugs in the most efficient manner. According to the company’s financial report, the company generated revenue of $25.6 million for the 12 months ending on December 31, 2023. Recursion is a clinical stage biotechnology company decoding biology to industrialize... Read More »
Earnings Week in Review: Healthcare Giants Navigate Growth and Hurdles
We’re taking a look at some of the major companies reporting earnings in the week of July 15-July 19, across a variety of sectors. UnitedHealth Group and Novartis showcased strong growth, while Johnson & Johnson and Elevance Health presented more mixed results. Abbott Laboratories also reported solid results, driven by its medical devices segment, while facing challenges in its diagnostics business due to waning COVID-19 testing demand. This week’s earnings reports offer insights into the broader healthcare industry’s performance and future trajectory. UnitedHealth Group UnitedHealth Group (UHG) demonstrated a significant turnaround in its second quarter of 2024, posting a... Read More »Schedule a demo
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