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Generic drugmaker Mylan goes hostile in bid for Perrigo

<span class="articleLocation”>(Reuters) – Generic drugmaker Mylan NV said on Friday it would take its $31 billion offer for Perrigo Co Plc directly to shareholders, in what is set to be one of the most high-profile hostile takeover attempts of the year. Mylan, which itself is the target of an unsolicited $40 billion bid from larger […]

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AstraZeneca drug deal hoists Innate Pharma shares to record high

A man walks past a sign at an AstraZeneca site in Macclesfield, central England May 19, 2014. Reuters/Phil Noble (Reuters) – Shares in Innate Pharma surged to a record high on Friday as investors cheered a deal with AstraZeneca to accelerate and broaden development of its immune-boosting anti-cancer medicines that could earn the French firm […]

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Perrigo Rejects Mylan Unsolicited Offer

DUBLIN, April 24, 2015 /PRNewswire/ — Perrigo Company plc (“Perrigo” or the “Company”) (NYSE: PRGO, TASE) today announced its rejection of the unsolicited offer from Mylan NV (“Mylan”) (NASDAQ: MYL) to acquire all of the outstanding shares of Perrigo for $60.00 per share in cash and 2.2 Mylan ordinary shares for each ordinary Perrigo share (the […]

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Biogen reports slowing sales of Tecfidera, shares plunge

(Reuters) – Sales of Biogen Inc’s key oral multiple sclerosis (MS) drug Tecfidera fell on a sequential basis in the first quarter for the first time since its launch in 2013, sending the company’s stock down as much as 8 percent on Friday. The U.S. biotechnology company posted lower-than-expected quarterly profit and revenue, saying Tecfidera’s […]

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AstraZeneca insists Celgene deal about strategy, not cash

(Reuters) – AstraZeneca (AZN.L) is getting a $450 million windfall by letting Celgene (CELG.O) develop a prized immunotherapy drug for blood cancers but its chief executive insists the deal is about strategy, not cash. Some investors are worried about the drugmaker’s reliance on such “externalization” deals to fill a short-term revenue gap. Deutsche Bank analyst […]

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Mylan’s Formal Offer For Perrigo Will Heat Up Pharma Dealmaking

Mylan on Friday morning unveiled its formal offer for Irish-domiciled drugmaker Perrigo, offering $60 a share in cash and 2.2 million Mylan shares, valuing the target at around $220 a share at current prices or $31 billion. The move comes as the generic drugmaker works to fend off a $40 billion takeover bid from its […]

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Innate Pharma Strikes Cancer Pact Worth $1.275 Billion With Pharma Giant AstraZeneca PLC

Marseille, France-based Innate Pharma announced today that it had inked a co-development and commercialization deal with AstraZeneca (AZN) and MedImmune. MedImmune is a wholly owned subsidiary of AstraZeneca. The deal will focus on pushing the development of anti-NKG2A antibody, IPH2201, also in combination with MEDI4736, an anti-PD-L1 immune checkpoint inhibitor created by MedImmune. The compound, […]

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Aerie Pharma shares battered as eye drug fails study

<span class="articleLocation”>(Reuters) – Aerie Pharmaceuticals Inc lost nearly three-quarters of its value after the company said its lead experimental eye drug failed a late-stage study. The eye drop, Rhopressa, did not lower pressure inside the eye as much as timolol, a commonly prescribed drug, the company said. Increased pressure in the eye is often a […]

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U.S. FDA warns five companies over BMPEA stimulant in supplements

(Reuters) – The U.S. Food and Drug Administration warned five companies on Thursday to stop selling dietary supplements containing an unapproved stimulant known as beta-methylphenylethylamine, or BMPEA. BMPEA is an amphetamine-like substance that has been shown to raise blood pressure and heart rate in animals and is classified as a doping agent by the World […]

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Drugmaker AbbVie’s profit beats estimates on strong Humira sales

(Reuters) – U.S. drugmaker AbbVie Inc reported better-than-expected quarterly profit and revenue, driven by strong sales of its arthritis drug, Humira. Shares of the company, which also raised its full-year adjusted profit forecast, rose about 2 percent to $65.69 in premarket trading on Thursday. Sales of Humira jumped 18 percent to $3.11 billion in the […]

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