Teva Can’t Stop Buying
With six acquisitions already on the books in 2015, Teva Pharmaceutical Industries (NYSE: TEVA) announced it would pay $2.3 billion for Representaciones e Investigaciones Médicas (Rimsa), a leading pharmaceutical manufacturing and distribution company in Mexico. Also associated with this deal is a portfolio of products and companies, intellectual property, assets and pharmaceutical patents in Latin America and Europe. With this acquisition, Teva becomes one of the top pharmaceutical companies in Mexico, which is the second largest market in Latin America and one of the top five emerging markets globally. The company expects the deal will yield substantial and achievable synergies and offer... Read More »Teva Acquires Respiratory Care Software Platform
Teva Pharmaceutical (NYSE: TEVA) has had a busy year, making four divestitures and four acquisitions. Last week it tipped the balance in favor of acquisitions, with the purchase of privately held Gecko Health Solutions in Cambridge, Massachusetts. Gecko’s CareTRx™ platform is a novel cloud-based solution designed to simplify chronic respiratory disease management, connecting patients and caregivers through remote monitoring and real-time adherence tools. Teva hopes to apply the CareTRx technology to its pipeline and portfolio of respiratory products. Read More »Another Priority Review Voucher Sold
In August, AbbVie (NYSE: ABBV) paid a record-setting $350 million to United Therapeutics Corp. (NASDAQ: UTHR) for its Rare Pediatric Disease Priority Review Voucher. The fast-track voucher was awarded by the FDA as part of its approval of Unituxin™ (dintuximab), for the treatment of neuroblastoma. On Sept. 8, the FDA cleared Wellstat Therapeutics’ Xuriden (uridine triacetate) for the treatment of hereditary orotic aciduria, a rare, potentially fatal genetic disorder. It also granted a Rare Pediatric Disease Priority Review Voucher to the privately held Wellstat. That voucher was immediately sold to AstraZeneca (NYSE: AZN) as part of an agreement made in September 2014. Financial... Read More »Valeant Pharmaceuticals Keeps Buying
Valeant Pharmaceuticals International (NYSE: VRX) couldn’t keep its checkbook closed last week. On September 1, Valeant obtained the exclusive license to develop and commercialize brodalumab, a psoriasis drug candidate, from AstraZeneca (NYSE: AZN) for $100 million. Valeant will hold the exclusive rights to develop and commercialize brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co., Ltd. under a prior arrangement with Amgen Inc. (NASDAQ: AMGN), the originator of brodalumab. A day later, the company announced its acquisition of Synergetics USA, Inc. (NASDAQ: SURG), a medical device company specializing in surgical... Read More »Big Generic Drug Deal for Lannett
The month of September got off to a busy start, with more than 32 acquisitions announced in just the first week. The biggest deal, by disclosed price, was Lannett Company’s (NYSE: LCI) $1.23 billion bid for Kremers Urban Pharmaceuticals, a subsidiary of UCB S.A. (Euronext: UCB). The deal adds near-term growth potential for LCI, with 11 product applications pending at the FDA, five of which include Paragraph IV certifications. Lannett believes the acquisition will be accretive to adjusted EPS in fiscal 2016 in the mid- to high-single digits and 20% to 25% in fiscal 2017. Lannett expects to receive a significant tax benefit as a result of 338(h)(10) election with a value in excess of... Read More »Schedule a demo
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