Johnson & Johnson ($JNJ) CEO Alex Gorsky struck a skeptical tone when it comes to large M&A; deals at the J.P. Morgan Healthcare Conference in San Francisco, stressing the company's desire to return money to shareholders, including about 50% in the form of dividends.
The two most commonly watched indexes of biotech stocks have each fallen more than 35% from their July peaks, battered down by a pervasive sense that the frothy days of the biotech boom, when becoming "the Amgen of" anything seemed at least glancingly possible, have passed. And that sentiment permeated this year's J.P. Morgan Healthcare Conference.
Pfizer's consumer health unit is said to be destined for sale, but that doesn't mean the business has stopped making its own buys. The drug giant snapped up Treerly Health, the China-based subsidiary of Sirio Pharma, and its portfolio of nutritional products for women, Pfizer said Thursday.
U.K.-based Dechra Pharmaceuticals made a splash last August when it shelled out $56.4 million for a controlling share of Croatian poultry vaccine maker Genara. Now the company is expanding its international footprint to Mexico, acquiring veterinary pharma manufacturer Laboratorios Brovel SA de CV.
Luxembourg testing outfit Eurofins is deepening its work in biopharma, acquiring a specialist in drug testing headquartered in the Netherlands.
GlaxoSmithKline CEO Andrew Witty may be coming around on a breakup. At the J.P. Morgan Healthcare Conference, Witty said he's open to the idea and pegged his consumer health joint venture with Novartis as a possible option.
Pfizer, wending toward a record-setting $160 billion merger with Allergan, said its soon-to-be subsidiary doesn't get the R&D; credit it deserves among industry insiders.
Shire may have clinched its $32 billion deal to buy Baxalta, but not everyone is breaking out the confetti. Some analysts aren't sold on the tie-up, saying they expected more in the way of savings and still are perplexed by what Baxalta brings to the table.
SAN FRANCISCO-- Let Depomed be clear: it may not have been too keen on Horizon Pharma's buyout offer from last year, but that doesn't mean it's opposed to a takeover.
Smith & Nephew sees the arthroscopically delivered cartilage repair solution it's just bought from Montreal, Canada-based Piramal for an undisclosed sum as a first-line treatment. Known as BST-CarGel, it's approved in most of Europe, Australia and Canada.