Forest Laboratories Inc, which is facing patent expirations on several of its biggest drugs, on Monday said it plans to buy rights to a new schizophrenia treatment from Merck & Co and cut annual operating costs by $500 million in fiscal 2016.
Medical
Bristol-Myers Squibb is reportedly exiting its stake in a diabetes joint venture with AstraZeneca for $3 billion
Bristol-Myers Squibb is reportedly exiting its stake in a diabetes joint venture with AstraZeneca for $3 billion. Bristol-Myers shifted its focus from producing diabetes and hepatitis C treatment drugs to medicines harnessing the immune system to fight cancer.
Valeant to take over Solta Medical for $236 million
Solta Medical Inc. has put up the company for sale amid falling profits and pressure from activist investor Voce Capital Management LLC. California-based Valeant Pharmaceuticals International will buy Solta Medical for $236 million in cash.
GSK to hike stake in Indian subsidiary for $1.02 billion
British pharmaceutical corporation GlaxoSmithKline on Monday announced that it would buy up to 20.6 million shares in Indian subsidiary GlaxoSmithKline Pharmaceutical Ltd. for a total of $1.02 billion.
Ikaria receives final takeover bids from private equity firms
Pharmaceutical company Ikaria Inc. is seeking an exit reportedly worth $2 billion. Private equity firms American Securities LLC, GTCR LLC and Madison Dearborn Partners LLC have tendered their bids to acquire the American specialty drug manufacturer.
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Australia-based diagnostic device firm Sun Biomedical had been negotiating the acquisition of biodegradable heart surgery device Parvulus Medical in an exclusive arrangement that will conclude on January 15.
American private equity firm KKR & Co LP reportedly agreed to commit USD200 million in Indian injectables manufacturing company Gland Pharma. The deal could put the company's valuation around USD600 million to USD650 million.
23andMe Chief Executive Officer Anne Wojcicki defended her company's genetic testing product and stands by the data on the accuracy of their results after the public warning letter issued by the US Food and Drug Administration.
India's finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Oregon-based medical billing advocate CoPatient raised over USD1 million in funding for its expansion and product development, and also moved into new offices located in Southeast Portland.
German healthcare group Merc is looking for acquisitions and collaborations with start-ups to grow its drugs business in the United States, a senior Merck official said.
French investment firm Wendel and Nordic Capital are the remaining bidders for Germany's medical patch maker LTS Lohmann. The acquisition deal could bring in EUR1.2 billion to the company owned by Novartis, BWK and German tycoon Dietmar Hopp.
German-based pharmaceutical giant Bayer is preparing an acquisition bid amounting to NOK306 (USD49.9) per share for its Norwegian partner Algeta, according to a German newspaper.
Hong Kong's Shandong Weigao Group on Friday announced that it will sell its entire 21.7% stake in Biosensors International Group for USD312.3 million. The stake will be sold to CB Medical Holdings.
