Pfizer may be able to find a way to salvage its $160 billion merger with Allergan, even after the U.S. Treasury Department's latest efforts to curb tax inversions. But word has it, it doesn't want to.
The U.S. Treasury's new rules might end Pfizer's quest for a tax inversion and put Allergan back on its previous course as an independent company. The key word is "might." But if the $160 billion merger does collapse, both companies will need new maps to growth.
Contract sterilization player Sterigenics, which was acquired last year in a deal reportedly valued at $2 billion by private equity firms Warburg Pincus and GTCR, has bought Nelson Laboratories. The deal wraps the largest U.S. sterility testing services for medical devices, pharmaceuticals and tissues into the Warburg portfolio company--making it the largest provider globally of sterilization services and testing, according to the company.
President Barack Obama has made no secret of his contempt for Pfizer's plans to merge with Allergan to move its headquarters to tax-friendly Ireland. Pfizer CEO Ian Read has made no secret of his determination to close that $160 billion deal, political backlash or no.
Potential buyers are circling Medivation, the cancer-focused drugmaker that recently brought Xtandi to market. But the San Francisco-based company isn't interested, Reuters says--and it has hired investment bankers at JPMorgan Chase to help fend off a deal.
Not so fast, Pfizer and Allergan. Regulators are looking for more information on their agreed-upon megamerger before allowing it to proceed.
Adding to its healthcare heft, WPP Group bought CMI, a healthcare media agency that counts 10 of the largest 20 pharma advertisers among its clients.
Affymetrix, a maker of advanced genetic analysis technology, has rejected an unsolicited bid by former executives in favor of the $1.3 billion offer it received from Thermo Fisher Scientific earlier this year.
Bristol-Myers Squibb has struck a $600 million deal to buy out the biotech startup Padlock Therapeutics and its autoimmune R&D; platform.
Precision for Medicine has signed a deal to acquire ACT Oncology--a leading CRO in the field of cancer studies--as together the new company looks to become a leading light in the personalized cancer clinical trial space.