Envy Medical Purchased by Allergan
Allergan plc (NYSE: AGN) acquired Envy Medical, Inc. this week in an effort to bolster its medical aesthetics portfolio. Envy Medical develops, markets, and sells non-invasive skin rejuvenation therapies for patients suffering from dermatologic or aesthetic conditions. Terms of the deal were not disclosed. The deal will also give Allergan a key product out of Envy Medical’s portfolio, Dermalinfusion. The item is a non-surgical, non-invasive skin resurfacing system. It is sold in more than 30 countries and has a global install base of over 3,800 units in physician offices and medical spas. This is not the first deal Allergan has made to build up its aesthetics portfolio. In September... Read More »
Bausch Health Buys Bankrupt Synergy Pharmaceuticals
Bausch Health Companies Inc. (NYSE: BHC) is back on the acquisition trail. It’s recent target is Synergy Pharmaceuticals Inc., (NASDAQ: SGYP), a New York City-based biopharma focused on novel gastrointestinal (GI) therapies. Its flagship product, Trulance (plecanatide) is a once-daily tablet approved for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation. Synergy filed for reoganization under Chapter 11 of the U.S. Bankruptcy Code on December 12, 2018 in the Southern District of New York. Bausch was designated the stalking-horse bidder with its offer of approximately $200 million plus certain assumed liabilities. The auction scheduled for... Read More »
Merck Buys Immunotherapy Firm Immune Design
Merck & Co., Inc. (NYSE: MRK), the global healthcare and pharmaceutical company, has acquired Immune Design (NASDAQ: IMDZ) for $300 million. Merck will buy all outstanding shares of Immune Design at a value of $5.85 per share. With reported revenue of only $2 million, Immune Design’s price tag equals close to a 136x EBITDA multiple. Out of this deal, Merck will gain key intellectual properties from Immune Design: GLAAS and ZVex. These properties can potentially activate the immune system’s natural ability to generate and expand immune cells to fight cancer and other chronic diseases. The acquisition of Immune Design highlights the demand for immunotherapy platforms and... Read More »
Robotic Surgery Firm Auris Health Goes to Johnson & Johnson
Johnson & Johnson (NYSE: JNJ) announced it will acquire Auris Health, Inc., a privately held developer of robotic technologies. J&J will pay $3.5 billion upfront and $2.35 billion in milestones under the terms of the agreement. This is J&J’s first acquisition in the medical device sector since 2016, when it bought Abbott Medical Optics from Abbott (NYSE: ABT). Auris Health’s technology focuses on lung cancer, with an FDA-cleared platform currently used in bronchoscopic diagnostic and therapeutic procedures. This acquisition will accelerate J&J’s entry into robotics with potential to expand into other interventional applications. Robotic technology deals... Read More »
Dubai Investments Buys Back Stake of Globalpharma from Sanofi
Dubai Investments (DFM: DIC) announced last week that it will purchase an additional 66% stake in pharmaceutical company Globalpharma, giving it full ownership of the company. Dubai Investments invest in a number of sectors, including healthcare and education in the UAE and the Middle East. You’re not alone if this story sounds familiar. Sanofi (NASDAQ: SNY) purchased a 66% majority stake of Globalpharma from Dubai Investments in 2014, leaving the latter company only a 34% minority stake up until last week’s deal. Globalpharma manufactures and commercializes generic medicines, and Sanofi integrated Globalpharma as its platform to manufacture and promote the generics portfolio... Read More »Schedule a demo
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