Source: Reuters Ireland-based Jazz Pharmaceuticals Plc will buy U.S.-based Celator Pharmaceuticals Inc in a cash deal valued at about $1.5 billion, to gain access to an investigational product in development for treating acute myeloid leukemia. Jazz Pharmaceuticals will pay $30.25 per share in cash for Celator, a 72.6 percent premium…...
SEC raises concerns about Valeant’s use of ‘Non-GAAP’ measures
Source: Reuters The Securities and Exchange Commission is concerned about the way Canadian drugmaker Valeant Pharmaceuticals International Inc (VRX.TO) has been disclosing its "non-GAAP" financial measures, regulatory filings showed on Tuesday. The SEC has questioned Valeant's practice of stripping away acquisition-related expenses from its "non-GAAP" or adjusted metrics, given that…...
Ex-Warner Chilcott sales exec goes to court today on kickbacks charges
Source: Former Warner Chilcott executive Carl Reichel’s day in court has come. The former sales chief stands trial beginning today, on charges that he conspired to pay kickbacks to doctors in return for stepped-up prescriptions for Warner drugs. It’s one of the few times a pharmaceutical executive has been arrested,…...
Pfizer to buy Anacor in $5.2 billion deal for access to eczema gel
Source: BY AMRUTHA PENUMUDI Pfizer Inc (PFE.N) is buying Anacor Pharmaceuticals Inc (ANAC.O) in a $5.2 billion deal to add an eczema gel to its portfolio, just a month after the U.S. drug major scrapped plans to acquire Allergan Plc (AGN.N). Anacor shares surged more than 55 percent to $99.48…...
Mylan snaps up dermatology biz from investors in $1B deal
Source: Mylan may have failed in its effort to buy OTC specialist Perrigo ($PRGO), but it is trying to quickly move on. Three months after announcing its $7.2 billion deal for Sweden’s Meda, the company says it will spend about $1 billion to get pick up topical skin meds from…...
U.S. Antitrust Watchdogs Turn to Insurers After Halliburton Win
Source: Bloomberg Bill Baer was the ultimate Washington antitrust insider when he came to the Justice Department in 2013: At law firm Arnold & Porter LLP, he’d counseled the biggest U.S. companies, including deal machine General Electric Co., on getting mergers over the finish line. So when Baer took over…...
Pfizer’s Chantix not linked to serious psychiatric side effects: Study
Source: by Emily Wasserman | Apr 25, 2016 8:47am Pfizer ($PFE) has been trying to get the FDA to take the black box warning off its smoking cessation drug, Chantix, after regulators warned that the med could be linked to serious psychiatric side effects. Now, the company is celebrating some…...
Merz Pharma Announces New Investment in Cytrellis Biosystems
Source: April 27, 2016 10:40 AM Eastern Daylight Time FRANKFURT AM MAIN & BOSTON--(BUSINESS WIRE)--Merz Pharma has made a strategic venture investment in Cytrellis Biosystems, a US based company developing a new class of non-surgical products to combat sagging skin associated with aging. Merz has joined a growing set of…...
Allergan’s new $85M buyout adds a cosmetic drug to a growing portfolio
Source: FierceBiotech by John Carroll | Apr 21, 2016 5:02pm Allergan is racking up another new deal in the wake of its broken merger with Pfizer. Thursday evening the company announced a deal to buy Boston-based Topokine Therapeutics for $85 million up front. The buyout gives Allergan a late-stage drug…...
UnitedHealth’s Optum Targets 75 Markets For Health Center Expansion
Source: Forbes UnitedHealth Group UNH -0.72%, the largest U.S. health insurer, is escalating its already aggressive effort to become a nationwide provider of medical care, targeting 75 markets across the country for expansion via its fast-growing Optum healthcare services unit. It’s a retail approach that includes urgent care centers and…...