Bausch + Lomb was valued at $6.48 billion in the company’s U.S. market debut on May 6 as the eye-care company’s shares opened nearly 3 percent above an offer price that was well below the targeted range.
Cigna Corp. raised the health insurer’s annual adjusted profit forecast on May 6, following a decline in COVID-related costs and no sign of pent-up demand for medical procedures that were delayed due to the pandemic.
Teva Pharmaceutical Industries believes the company would have to pay around $2.6 billion in cash and medicine to settle thousands of lawsuits alleging the world’s largest generic firm and other drug manufacturers fueled the U.S. opioid epidemic.
Abbott received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation (TRC) to purchase up to 1,000,000 Abbott common shares, representing approximately 0.06% of the company’s outstanding shares.
Axsome Therapeutics said on April 25 the company expects the U.S. health regulator to decline approval for the drug developer’s treatment of acute migraine over unresolved issues of its quality control processes, sending shares of Axsome down 20 percent.
Valneva said on April 25 that the European Medicines Agency (EMA) had asked for more data on the company’s COVID-19 vaccine, precipitating a sharp fall in the French drugmaker’s shares.
GlaxoSmithKline is acquiring California biopharmaceutical firm Sierra Oncology for $1.9 billion in a deal expected to help both companies take a major step in developing a treatment for rare types of cancer.
The U.S. health regulator said on April 5 GlaxoSmithKline and Vir Biotechnology’s antibody therapy was no longer authorized as a COVID-19 treatment, with data suggesting it was unlikely to be effective against the dominant Omicron sub-variant in the country.
Fresenius Kabi agreed to buy a majority stake in the mAbxience division of Spain’s Insud Pharma to expand the generic drug unit’s business making cheaper versions of biotechnology products that have lost patent protection. Fresenius said Kabi also agreed to acquire Ivenix Inc., a maker of infusion therapies.
A Johnson & Johnson subsidiary came under attack in court on February 14 for attempting to use the bankruptcy process to resolve tens of thousands of claims that J&J’s baby powder and other talc-based products caused cancer.