Hikma Pharmaceuticals said last year that it would shell out more than $1 billion for Boehringer Ingelheim's U.S.-based generics business, Roxane Labs, to gain ground in noninjectable generics. But now, Hikma is slashing its offer price for the deal after catching wind of Roxane's disappointing 2015 sales.
One of the market themes that emerged in 2015 was that marquee biotech players could get a boost out of a high-profile acquisition--just as Big Pharmas remained aloof to the ever-rising, jaw-dropping price tags tied to drug pipelines after a three-year bull market. Now, though, with industry share prices in a savage spiral, some top execs in the industry voted most likely to ink new deals are adopting a wary attitude as they wait for the dust to settle.
Actelion, the standard bearer in treatments for pulmonary arterial hypertension, is scouting for new disease areas as it rolls out its next potential blockbuster, hoping to keep up its pace of growth by pivoting away from its home base.
Abbott's just-announced acquisition of ablation catheter player Kalila Medical reflects the growing adoption of interventional electrophysiology and other devices to treat atrial fibrillation and stroke.
Former Covidien head Jose Almeida, who seized the reins at Baxter at the start of the year, offered an early glimpse of his long-term strategy for the company after spinning off the biopharma Baxalta last year. On a Feb. 2 earnings call, he laid out his priorities as trimming operating expenses, reallocating capital to support innovation and growth, and making smaller acquisitions.
As healthcare providers call for more technology to improve efficiencies, some of the device industry's biggest players are stepping forward with deals aimed at speeding up services and reducing costs.
Hot on the trail of dental device acquisitions, dental implant giants Straumann and Dentsply International are reportedly weighing a deal for Israel's MIS Implants Technologies.
Medtronic has acquired Italian hemodialysis treatment solutions company Bellco from private equity firm Charme Capital Partners, which acquired it in 2012. The medical device giant is folding the acquisition into its newly formed Renal Care Solutions business. This is just the latest in a series of diabetes-related deals for Medtronic, which last year also bought Netherlands-based diabetes clinic and research center Diabeter.
With an eye on earning more recurring revenue, Stryker announced the $2.8 billion acquisition of Sage Products, a maker of disposable devices that reduce the risk of hospital-acquired infections and other adverse events in the intensive care unit.
Over the summer, Abbott said that it was keeping an eye out for potential deals, even if it didn't want one with St. Jude. Now, the company has landed on its next purchase, snatching up diagnostics outfit Alere to bulk up in point-of-care diagnostics and expand its international reach.