Pharma & Biotech Mergers & Acquisitions News
Pharmaceutical
Big pharmas are not deterred by China’s increasingly complex business environment. Instead, they are changing strategies to minimize risks while continuing to benefit from China, said speakers at ChinaTrials held last week in Shanghai. 18 November 2024
Today's issue
Refine Search
Latest Mergers & Acquisitions News & Features
Biotechnology
Aizen Therapeutics, an AI-driven biotech headquartered in San Diego, has officially launched from stealth mode, introducing its drug discovery platform, DaX. 21 November 2024
Biotechnology
Massachusetts, USA-based firm VBI Vaccines has initiated a nationwide voluntary recall of PreHevbrio (hepatitis B vaccine), as it proceeds with bankruptcy and the shutdown of its operations. 19 November 2024
Biotechnology
Last week saw US pharma major AbbVie release disappointing Phase II trial results on its emraclidine in schizophrenia, which benefited Bristol Myers Squibb. Also on the research front, Germany’s Merck KGaA and Abbisko’s pimicotinib showed positive results in tenosynovial giant cell tumor (TGCT). M&A news saw German BioNTech punting $800 million upfront to acquire China based oncology focused Biotheus. Also of note, US drugmaker Halozyme Therapeutics made an unsolicited takeover bid for Evotec, valuing the German firm, at around 2 billion euros. 17 November 2024
Biotechnology
Shares of German drug discovery company Evotec leapt 20% to 10.33 euros this morning on the revelation that the USA’s Halozyme Therapeutics has submitted a non-binding proposal to acquire Evotec for 11.00 euros per share in cash, implying a fully-diluted equity value of around 2.0 billion euros ($2.12 billion). 15 November 2024
Biotechnology
BeiGene has announced plans to rebrand as BeOne Medicines, a move the cancer specialist says reflects its commitment to fighting cancer through collaboration. 15 November 2024
Biotechnology
Although it is seeing a downturn in sales and profits, German biotech BioNTech is continuing to acquire assets with the cash pile it made through the covid pandemic, notably iis Comirnaty vaccine that was developed with Pfizer (NYSE: PFE). 13 November 2024
Biotechnology
Trace Neuroscience, a newly launched biopharma based in San Francisco, aims to advance treatments for neurodegenerative diseases, starting with amyotrophic lateral sclerosis (ALS). 12 November 2024
Biotechnology
AlloVir has entered into a definitive agreement to merge with biopharma company Kalaris Therapeutics. 8 November 2024
Biotechnology
California, USA-based biotech Nektar Therapeutics’ shares closed up more than 8% at $1.33 yesterday after it announced the sale of its only manufacturing facility. 5 November 2024
Biotechnology
Maryland, USA–based glycobiology specialist GlycoMimetics has entered into an acquisition agreement with Crescent Biopharma, a privately held biotechnology company advancing a pipeline of oncology therapeutics designed to treat solid tumors. 30 October 2024
Biotechnology
German drugmaker Dr Falk Pharma GmbH today announced completion of the acquisition of Kynos Therapeutics, a clinical stage biopharmaceutical company focusing on the development of novel KMO inhibitors for acute and chronic inflammatory diseases. 29 October 2024
Biotechnology
US Pharma major AbbVie has reached a definitive agreement to acquire Aliada Therapeutics, a biotech advancing therapies using a novel blood-brain barrier (BBB)-crossing technology to address challenging central nervous system (CNS) diseases. 29 October 2024
Biotechnology
Ottimo Pharma, a biotech founded by Medicxi in 2020, has emerged from stealth mode with an executive team packed with prominent industry leaders. 28 October 2024
Biotechnology
Last week Vertex Pharmaceuticals released positive Phase III results for its suzetrigine for moderate-to-severed pain. Belgium’s UCB revealed that Swiss pharma giant Roche was terminating its collaboration on the Alzheimer’s candidate bepranemab. The UK’s health technology assessor the Institute for Health and Clinical Excellence (NICE) declined to recommend a second Alzheimer’s treatment, this time Eli Lilly’s Kisunla. Also of note, Lyell Immunopharma announced its planned acquisition of ImmPACT Bio and reprioritization of its own clinical pipeline. 27 October 2024
Biotechnology
California, USA-based Lyell Immunopharma (Nasdaq: LYEL) has entered into a definitive agreement to acquire privately-held US CAR-T company ImmPACT Bio. 26 October 2024
Biotechnology
Mumbai-based Mankind Pharma has completed its acquisition of Bharat Serums and Vaccines (BSV), adding to its portfolio in the women’s health and fertility market. 24 October 2024
Biotechnology
Ocuphire Pharma has announced its acquisition of Opus Genetics, a clinical-stage gene therapy company focused on treating inherited retinal diseases. 24 October 2024
Biotechnology
Connecticut, USA-based Modifi Biosciences today announced that the company has been acquired by pharma giant Merck & Co 23 October 2024
Biotechnology
Taiwan-based REGiMMUNE, a biopharma creating immunotherapies through the power of regulatory T cells (Tregs), and France-based Kiji Therapeutics, a specialist in induced pluripotent stem cells-mesenchymal stem cells (IPSC-MSC) engineered cell therapies for inflammatory diseases, are to merge. 18 October 2024
Biotechnology
Danish CNS specialist Lundbeck today revealed that it has reached to acquire Longboard Pharmaceuticals. 15 October 2024
Biotechnology
Following intense rumor and speculation over the weekend, late Sunday, French drug major Sanofi-Aventis (Euronext: SAN) confirmed that talks with respect to its hostile bid to acquire US biotech firm Genzyme (Nasdaq: GENZ) are continuing and said that its financial advisors have been engaged in discussions with respect to a potential Contingent Value Right (CVR), for Genzyme's investigational multiple sclerosis candidate Lemtrada (alemtuzumab) with milestone payments based upon approval and certain sales thresholds. 10 January 2011
Biotechnology
Renowned biotech specialist and venture capitalist Steven Burrill offers his predictions for the biotechnology industry. He sees a dynamic industry writing a new "play book" in response to an environment that: favors risk mitigated companies rather than earlier stage development companies that have a much higher risk profile; emerging biotech markets, particularly in Brazil, Chile, China, India, Malaysia and Russia, growing faster than the USA and Europe; challenges created by health care reform; and opportunities for companies operating in the 'biogreentech' space. 5 January 2011
Biotechnology
USA-based Biogen Idec (Nasdaq: BIIB) says it has acquired a subsidiary of independent Swiss biotech firm Neurimmune, which includes the world-wide rights to three preclinical immunotherapy programs. The three programs are focused on the discovery and development of novel human antibodies that address three central nervous system (CNS) targets: alpha-synuclein, tau and TDP-43. 21 December 2010
Biotechnology
Arguing the case for a higher valuation with regard to French drug major Sanofi-Aventis' (Euronext: SAN) hostile $69 a share ($18.5 billion) takeover attempt, Genzyme (Nasdaq: GENZ) held an investor meeting yesterday stressing the significant market potential of its alemtuzumab in the treatment of multiple sclerosis. The alemtuzumab is already sold as a leukemia drug under the trade name Campath, but last year generated sales of just $150 million. Lemtrada has been selected as the trade name for MS. 21 December 2010
Biotechnology
USA-based Gilead Sciences (Nasdaq: GILD) has signed a definitive agreement to acquire privately-held US biotech firm Arresto Biosciences. Under the terms of the deal, Gilead will acquire Arresto for $225 million and potential future payments based on achievement of certain sales levels. Gilead expects the deal to close in the first quarter of 2011, subject to satisfaction of certain closing conditions, and plans to finance the acquisition through available cash on hand. 21 December 2010
Biotechnology
In the USA, November saw the Republicans took control of the House of Representatives, whilst the Democrats retained control of the Senate, with a reduced majority. These results will complicate Barack Obama's presidency for the remaining two years, following the approval of a major health care reform in March 2010. 20 December 2010
Biotechnology
US biotech firm Cypress Bioscience (Nasdaq: CYPB) has once again snubbed further advances from investment advisory firm Ramius V&O Acquisition, rejecting its fully financed offer to acquire all of the company's outstanding common stock in a negotiated transaction for $6.00 per share in cash, an improvement on the $5.50 offered last Thursday (The Pharma Letters December 13 and July 20). 15 December 2010
Biotechnology
Shares in USA-based biotech firm Cypress Biosciences (Nasdaq: CYPB) leapt 20% to $4.88 on Friday after investment advisor Ramius V&O Acquisition, which already owns 9.9% of the company, raised its earlier unsolicited bid from the original $4 a share, later upped to $4.25 in a tender offer which expired on December 10, and now to $5.50, valuing the company at some $212 million (The Pharma Letter July 20) 13 December 2010
Biotechnology
Australia's Mesoblast (ASX: MSB) saw its shares rocket as much as to hit a higher of A$4.45, before closing up 21.65% at $4.05, after the biotechnology company revealed details of a deal with USA-based Cephalon (Nasdaq: CEPH) that could earn the firm in excess of $1.8 billion 9 December 2010
Biotechnology
combination products firm Biocompatibles (LSE: BII). The value of offer is of the order of 160 million ($258.4 million), although first billed as 177 million, but BTG's shares fell on the news bringing the paper value lower. Analysts saw the offer price as steep, and BTG's shares fell 8% to 232.6 pence on Friday. 22 November 2010
Biotechnology
Genzyme (Nasdaq: GENZ) says that it has entered into an asset purchase agreement under which Japan's Sekisui Chemical will acquire the US biotech major's Diagnostic products business for $265 million in cash. 19 November 2010
Biotechnology
French drug major Sanofi-Aventis (Euronext: SAN), likely keeping the doors open to its acquisition ambition, says it has sent a letter to Genzyme (Nasdaq: GENZ), the target of its $69 a share/$18.5 billion hostile takeover target (The Pharma Letters passim), calling on the company to clarify its position on a number of potential Board actions raised in Genzyme's Schedule 14D-9, and not use defensive tactics to bloc a transaction. 9 November 2010
Biotechnology
Speaking to various news services following the company's presentation of third-quarter financial results this morning, French drugmaker Sanofi-Aventis (Euronext: SAN) chief executive Christopher Viehbacher was asked to comment on the firm's hostile $69 a share bid for US biotechnology firm Genentech (Nasdaq: GENZ). 28 October 2010
Biotechnology
US biotech major Genzyme (Nasdaq: GENZ) argued strongly that it is worth a lot more than the $69/share, or $18.5 billion, hostile takeover bid from France's Sanofi-Aventis (Euronext: SAN) on Friday, detailing its accelerated financial recovery and other factors underpinning its value, at a meeting with investors and securities analysts in New York. Also, for the first time, Genzyme indicated its own valuation price: $89 a share. 25 October 2010
Biotechnology
US biotech major Genzyme Nasdaq: GEN), which is fending off an unsolicited takeover bid from France's Sanofi-Aventis (Euronext; SAN), has presented positive clinical trials data for its currently marketed chronic lymphocytic leukemia drug Campath (alemtuzumab) in the treatment of multiple sclerosis. 18 October 2010
Biotechnology
The BIO Investor Forum - held by the USA's Biotechnology Industry Organization in San Francisco earlier this month - kicked off with a realistic look at the harsh reality of the industry, which is much smaller compared to three short years ago, with fewer deals and no substantial increase in merger and acquisition (M&A) activity. 15 October 2010
Biotechnology
Giving its official reaction to French drug major Sanofi-Aventis' (Euronext: SAN) move to approach shareholders directly (The Pharma Letter October 4), US biotech firm Genzyme (Nasdaq: GENZ) says that its board of directors has voted unanimously to reject the unsolicited $69.00 per share, or $18.5 billion, tender offer and recommends that Genzyme shareholders not proffer their shares. 8 October 2010
Biotechnology
In what now looks set to be a protracted battle to gain control of troubled US biotechnology firm Genzyme (Nasdaq: GENZ), French drug major Sanofi-Aventis (Euronext: SAN) has gone hostile, this morning announcing that it has commenced a tender offer at $69 per share, or a total of $18.5 billion, which the Genzyme board has previously rejected as not enough (The Pharma Letters passim). The offer represents a 31% premium to the average price over the month before speculation began that Genzyme had received the bid approach. 4 October 2010
Biotechnology
Netherlands-based biotechnology firm Crucell NV (Euronext: CRX) this morning revealed that it is in negotiations for a potential public offer by US health care giant Johnson & Johnson (NYSE: JNJ) for all outstanding ordinary shares of Crucell not already held by J&J and its affiliates, which currently own around 17.9% of the outstanding shares of the Dutch firm which it acquired last year. (The Pharma Letter September 28, 2009). 17 September 2010
Sign up to receive email updates
Join industry leaders for a daily roundup of biotech & pharma news
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze