Search Results for “acquisition” – Page 4 – media

Inari Medical closes LimFlow acquisition

BY SEAN WHOOLEY The LimFlow System. [Illustration courtesy of LimFlow] Inari Medical (Nasdaq: NARI)+ announced that it completed its acquisition of chronic limb-threatening ischemia (CLTI) treatment maker LimFlow. The Irvine, California–based company earlier this month announced plans to acquire LimFlow for up to $415 million. The deal came just weeks after Paris-based LimFlow won FDA premarket approval (PMA) for its breakthrough CLTI treatment. Inari Medical intends to pay a total upfront consideration of $250 million in cash at closing. Contingent consideration of up to $165 million in additional cash payments hinges on certain commercial and reimbursement milestones. Inari Medical expects to pay those tranches out between 2025 and 2027. The company said it funded the acquisition at close from existing cash resources. LimFlow designed its system for transcatheter arterialization of deep veins. It diverts blood from a diseased tibial artery to a tibial vein to deliver oxygen to a patient’s ...
- Source: drugdu
- 103
- November 20, 2023
Eli Lilly reiterates POINT acquisition plans with tender offer extension

Eli Lilly has substantiated its desire to acquire radiopharmaceutical company POINT Biopharma by extending the expiration date of the tender offer. The offer, which will now give POINT until 5:00 pm ET on 16 November to accept or terminate proceedings, outlined Lilly’s proposal to purchase shares at $12.5 per share in cash, with the condition to purchase a majority of POINT’s outstanding shares. The offer was previously scheduled to expire one minute after 11.59 pm ET on 9 November. As of 8 November, Lilly reported that nearly 15 million shares had been presented and not properly withdrawn. These shares constituted about 14.16% of the issued and outstanding shares of POINT as of the same date. The transaction is making waves at POINT where it has been met by a wall of opposition. As per an amended tender offer statement filed with the SEC on 8 November, POINT has received several ...
- Source: drugdu
- 104
- November 13, 2023
Alfasigma opens new doors in the US with Intercept acquisition

Alfasigma has expanded its drug portfolio for treating rare and serious liver diseases after completing its acquisition of US-based Intercept Pharmaceuticals. The completed acquisition comes just over a month after Intercept agreed to a $794m (€751.76m) buyout by Alfasigma. Any remaining common shares of Intercept were bought at $19.00 per share. Now being owned by the leading Italian pharmaceutical company, Intercept will no longer be traded on the Nasdaq exchange. In acquiring Intercept, Alfasigma has gained access to Ocaliva, the only US Food and Drug Administration (FDA)-approved second-line therapy for primary biliary cholangitis (PBC). Ocaliva, in combination with bezafibrate, also has orphan drug designation for PBC that was granted by the FDA in May. As per Alfasigma CEO Francesco Balestrieri, the company seeks to expand its gastroenterology and hepatology market presence and will benefit from Intercept’s innovation and R&D pipeline. Though Intercept’s Ocaliva has had its victories, the drug has ...
- Source: drugdu
- 117
- November 10, 2023
Thermo Fisher Adds Proteomics to Its Portfolio Through $3.1B Olink Acquisition

Drug discovery increasingly requires sophisticated analysis of proteins, and Thermo Fisher Scientific is building up its capabilities to support such research with the $3.1 billion acquisition of Olink, a company whose technologies and services are used in laboratories around the world. According to deal terms announced Tuesday, Thermo Fisher, based in Waltham, Massachusetts, will pay $26 cash for each American depositary share of Olink. That price represents a premium of about 74% to the Uppsala, Sweden-based company’s closing stock price on Monday. When Olink made its Nasdaq debut in 2021, it priced shares at $20 apiece. Olink is a player in the field of proteomics, the analysis of proteins. But the company does not discover or develop new drugs. Rather, it provides tools and services for the scientists who do that research at biopharmaceutical companies and universities. The company sells kits that drug researchers can use to analyze proteins in ...
- Source: drugdu
- 229
- October 19, 2023
Biogen Lays Off 113 Reata Employees Weeks After Completing $7B Acquisition

By Tristan Manalac Pictured: Biogen sign/The Boston Globe via Getty, John Tlumacki Biogen is laying off 113 employees from Reata Pharmaceuticals’ Plano, Texas site, according to a Worker Adjustment and Retraining Notification notice. The layoffs, set to take effect in late November, come just months after Reata was acquired by Biogen for $7.3 billion in July 2023. At the time, Biogen had just launched a sweeping cost-reduction program which involved terminating around 1,000 employees in an effort to save $1 billion in operating expenses by 2025. Late last month, Biogen completed the acquisition of Reata. In an emailed statement to Endpoints News, a Biogen spokesperson confirmed the job cuts which will mostly affect “roles where there are existing synergies at Biogen.” The positions include general and administrative services, as well as some development-focused jobs. “We are retaining those colleagues who have been essential to the launch of Skyclarys to ensure ...
- Source: drugdu
- 225
- October 14, 2023
AbbVie Completes Acquisition of Mitokinin

Addition strengthens neuroscience pipeline, company says. Image Credit: Adobe Stock Images/chinnarach AbbVie announced that it has exercised its exclusive right and completed the acquisition of Mitokinin, a biotech company focused on developing treatments for Parkinson’s disease. Under terms of the acquisition, AbbVie will pay Mitokinin shareholders $110 million at closing for the acquisition of Mitokinin, with shareholders remaining eligible for potential additional payments of up to $545 million upon the achievement of certain development and commercial milestones related to Pink1, Mitokinin’s lead compound designed to address mitochondrial dysfunction that is believed to be a major contributing factor to Parkinson’s disease pathogenesis and progression. “Parkinson’s disease continues to be a major unmet medical need, impacting patients, caregivers and society. With this acquisition, we are excited to grow our neuroscience portfolio and explore a potential new treatment option for PD,” said Jonathon Sedgwick, PhD, VP, global head of discovery research, AbbVie. “While ...
- Source: drugdu
- 143
- October 9, 2023
Enovis inks $847M acquisition to boost orthopedic reconstruction business

Dive Brief Enovis has struck an agreement to buy orthopedics company LimaCorporate for 800 million Euros ($847 million). The acquisition of the Italy-based company will scale Enovis’ global reconstruction unit, creating a $1 billion business that is forecast to grow in the high single digits and generate $40 million in cost synergies over the next three years. Vik Chopra, an analyst at Wells Fargo, said the acquisition was “much larger than what we were expecting,” in a conference call with Enovis management. Shares in Enovis rose 5% to $54.16 after the Delaware-based company disclosed the deal. Dive Insight Enovis, formerly called Colfax, has grown its operations through a series of acquisitions since the start of the decade, globalizing its reconstruction business with the $285 million takeover of Mathys in 2021 and adding other assets to establish and build its foot and ankle business. “At the time [of the Mathys deal], ...
- Source: drugdu
- 104
- September 28, 2023
Bausch + Lomb seeks funding for $1.75B eye drop acquisition from Novartis

Dive Brief Bausch + Lomb is seeking to raise almost $2 billion to fund the planned acquisition of Xiidra eye drops from Novartis. The eye health company struck a deal in June to buy the dry eye disease treatment Xiidra and other assets for $1.75 billion upfront, and followed up by agreeing to pay Johnson & Johnson $107 million for a line of eye and contact lens drops. It has the cash to fund the J&J deal but needs to arrange financing to close the larger acquisition of the Novartis assets. Fitch Ratings, in a note to investors, said the Xiidra deal will boost Bausch + Lomb’s ophthalmic pharmaceutical market presence while the company’s R&D efforts help drive revenue growth and support margins longer term. Dive Insight Bausch + Lomb, which split from parent company Bausch Health last year, has identified two ways to strengthen its balance sheet ahead of ...
- Source: drugdu
- 123
- September 14, 2023
US FTC Requests More Information on Pfizer’s Proposed $43bn Seagen Acquisition

The US Federal Trade Commission (FTC) has requested more information and documentary material regarding Pfizer’s proposed $43bn acquisition of Seagen. The second request is a standard review procedure by which the FTC and the Antitrust Division of the US Department of Justice investigate mergers and acquisitions. If a second request is submitted, the law forbids merging companies from completing a transaction until they have substantially complied with the additional investigatory request. The Pfizer/Seagen agreement, which was originally announced in March this year, would mark a significant boost to the US pharma’s oncology pipeline. At the time of the announcement, Pfizer’s oncology portfolio included 24 approved drugs, while Seagen’s included Adcetris for lymphomas, Padcev for bladder cancers, Tivdak for cervical cancer, and Tukysa for breast and colorectal cancers. The deal would also grant Pfizer access to Seagen’s drug development pipeline as well as its proprietary ...
- Source: drugdu
- 220
- July 21, 2023
Illumina acquisition of Grail wins support from GOP lawmakers, state AGs as FTC tries to block it

Republican lawmakers, state attorneys general and several advocacy groups have voiced their support for Illumina’s acquisition of cancer-test developer Grail while the Federal Trade Commission fights to unwind the deal. The groups filed 14 amicus briefs Monday urging the U.S. 5th Circuit Court of Appeals to reverse an FTC order that would have Illumina undo the $7.1 billion Grail deal over concerns that it stifles competition. Last week, the San Diego-based DNA-sequencing company appealed the agency’s ruling. Proponents of the deal argued in the court filings that the FTC overstepped its authority in trying to unwind the tie-up that closed nearly two years ago. They added that blocking the companies from merging could harm the development of life-saving technology. “Unaccountable federal agency power undermines liberty, and overzealous, unfair agency enforcement impedes technological advancements benefitting citizens’ wellbeing,” attorneys general from 12 states said in one of the briefs. Those states are ...
- Source: drugdu
- 110
- June 16, 2023

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