Stryker Strikes Two Deals in Two Weeks

Medical device maker Stryker Corporation (NYSE: SYK) announced its second deal in two weeks, buying the neurosurgery tools portfolio of Synergetics USA Inc. for an undisclosed sum. The portfolio consists of Synergetics’  Malis generator, Spetzler Malis disposable forceps, and Stryker’s existing Sonopet tips and RF generator. The products will complement Stryker’s neuro, spine and ear-nose-throat business, as well as expand its neurosurgical offerings. The first deal, announced on February 1, was Stryker’s nearly $2.8 billion acquisition of Sage Products, LLC, a portfolio company of Madison Dearborn Partners, LLC. Sage develops, manufactures and distributes... 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 »