News in brief

Taro accuses Sun of PR posturing

06-Jan-2009 -  Taro chairman Barrie Levitt says Sun’s publication of details of incomplete settlement talks designed to address the parties’ long running acquisition battle violates confidentiality agreements and presents a one-sided view of current events. 

Hectic week of M&A led by the return of King to Alpharma

26-Nov-2008 -  King Pharmaceuticals’ $1.6bn (€1.2bn) acquisition of Alpharma heads a busy week of deals that has seen J&J agree to pay $438m for Omrix and India’s Sun further its presence in the US narcotic APIs sector through the purchase of Chattem Chemicals. 

News in brief

Lilly completes $6bn ImClone acquisition

25-Nov-2008 -  Eli Lilly has bought ImClone for around $6bn (€4.6bn), gaining access to the blockbuster cancer therapy Erbitux (cetuximab) and significantly expanding its portfolio of Phase III oncology candidates, including IMC11F8 which is viewed as a potential Erbitux successor.

Reshaping R&D replaces cost cutting as top priority

13-Nov-2008 - Cost cutting has sustained pharma profits in the faltering global economy, however top executives are starting to realise that reducing R&D capacity may not have been the smartest move in an era of weak pipelines and impending patent expiry, according to a new report by Ernst & Young.

RCP’s big plans for nanotechnology

12-Nov-2008 -  Robert Sexauer, CEO of biopharmaceuticals group RCP Therapeutics, says the R&D investment deal signed with FirstPoint Biotech shows the attractiveness of the firm’s nano-medical pipeline, particularly given the current economic climate.

Lilly to acquire ImClone for $6.5bn

07-Oct-2008 -  Eli Lilly has agreed to acquire ImClone for $6.5bn and in doing so appears to have snatched the biotech away from Bristol-Myers Squibb (BMS), which first tabled a bid back in July.

Teva Kowa JV to target Japanese generics market

25-Sep-2008 -  Teva and Kowa have set their sights on Japan’s $4.6bn (€3.1bn) generics market with their development and manufacturing joint venture Teva-Kowa Pharma.  

Zentiva board accepts Sanofi’s revised €1.8bn offer

23-Sep-2008 -  Sanofi-Aventis’ €1.8bn ($2.6bn) offer for Czech generics firm Zentiva has been unanimously accepted by the latter firm’s board after four months of wrangling that has seen the bid increase by 9.5 per cent. 

Israeli court rules against “disingenuous” Taro

28-Aug-2008 - The Tel-Aviv District Court has found in favour of Sun Pharmaceuticals in its long running struggle to acquire Israeli drug and pharmaceutical ingredient maker Taro Pharmaceutical Industries.

Genentech rejects Roche but leaves door ajar

14-Aug-2008 - Genentech’s special advisory committee has rejected Roche’s $44bn offer for the biotech believing that it “substantially undervalues” the company.

APC parent to be bought by Otsuka Chemical

06-Aug-2008 -  US protein manufacture and development services provider American Peptide Company (APC) says that its parent company, Ito Life Sciences (ILS), is to be acquired by fellow Japanese firm Otsuka Chemical.

MeadWestvaco and Bilcare jointly buy packaging firm

22-Jul-2008 - Contract packaging company International Labs has been taken over in a joint acquisition between India’s Bilcare and MeadWestvaco of the US.

Brookwood acquisition expands delivery portfolio

21-Jul-2008 - Brookwood Pharmaceuticals, a subsidiary of SurModics, has acquired the exclusive rights to all pharmaceutical applications of PharmaSol’s nanostructured lipid carrier (NLC) technology.

Teva pounces on Barr with $7.5bn offer

21-Jul-2008 - There looks set to be further consolidation in the generics sector with Teva offering to acquire Barr Pharmaceuticals in a deal worth $7.5bn

Sinclair and Wockhardt strike deal

03-Jul-2008 - UK-based Sinclair Pharmaceuticals has entered into a manufacturing and distribution agreement with Wockhardt, an Indian pharmaceutical and biotech company.

Pfizer to hijack Ranbaxy deal?

18-Jun-2008 - Pfizer may be poised to make a counter bid for Ranbaxy, potentially scuppering the takeover by Daiichi which appeared to be a done deal.

Daiichi to acquire majority stake in Ranbaxy

11-Jun-2008 - Japanese pharmaceutical firm Daiichi Sankyo is set to acquire a majority stake in Ranbaxy Laboratories, in the biggest takeover deal of an Indian pharmaceutical firm by an international company.

Biotech acquisitions scale new heights

21-May-2008 - Big pharma's lust for biotech's pipelines appears to be continuing unabated with a record $27bn-worth of acquisitions and licensing deals being made last year.

M&A movement in India with three top firms

03-Apr-2008 - Three of India´s large pharmaceutical manufacturers, Dr Reddy's, Ranbaxy Laboratories and Shilpa Medicare have just announced new merger and acquisition (M&A) deals.