The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: M&A

Valuation and Other Biotech Mysteries – Part 11: Changes in Pharmaceutical Industry Product Portfolios and Strategies

[Ed. This is the eleventh part in Wayne's series. You can access the whole thing by clicking here. Please leave comments or questions on the blog and Wayne will address them in future posts in this series.] As described in the prior post, the modern pharmaceutical industry has evolved from the patent medicine companies selling [...]

Bristol-Myers Squibb Strikes $2.1 billion Deal for Medarex

Great news for Medarex shareholders from BMS’ $16/share offer yesterday, which clocks in at a 90% premium over Wednesday’s close.  Reports cite the value of ipilimumab, a late-stage cancer therapy being advanced as a new treatment for metastatic melanoma, as well as the value of Medarex’s transgenic mouse platform to make human antibodies. However, the [...]

Monday Deal Review: July 12, 2009

The highlights of this week were definitely the Bioniche-Endo deal and Allostera’s $17 million raise, but that was just the tip of the iceberg as Canadian deal activity heated up along with the weather.  A novel deal with an income trust swapping cash for a biotech’s public shell starts things off

There’s No Bailout Like a Good Exit

A Bloomberg article this morning takes a look at the recent boom in Israel’s biotech and device stocks, and credits the government cash infusion (which we noted at the time) for some of the buoyancy; but also attributes much of the gain to speculation that the J&J-Omrix deal is the beginning, not the end, of [...]

Canadian M&A: Akela Pharma and Nventa to Merge, Akela Shareholders to Own 70%

Akela Pharma Inc. (TSX: AKL) and Nventa Biopharmaceuticals (TSX: NVN) will merge by exchanging 0.0355 Akela shares for each Nventa share, resulting in an approximate 70/30 ownership split between Akela and Nventa shareholders, respectively, in the combined entity. The public company will retain Akela’s name, management, and ticker symbol (AKL).  The arrangement arrangement was unanimously [...]

Roche Tenderly Completes Genentech Deal

The results are in: 84.7% of Genentech’s publicly held shares were tendered and will be taken up by Roche Investments USA Inc. for $95 per share, bringing Roche’s stake up to 93.2% (96.2% with the guaranteed deliveries).  Just a short form merger away from done. Next challenge: integration without assimilation.

Wednesday Brain Dump: Around the World Edition

Click on the map points for each story, or just read on

Patheon Special Committee Bites its Thumb at JLL’s Bid. Clubs, Bills and Partisans to Follow!

Following JLL’s commencement of its bid for Patheon yesterday, Patheon’s Special Committee released its response this morning advising shareholders that JLL’s offer is “substantially undervalued, opportunistic and structurally coercive.” Patheon shares closed up slightly at $2.55 (up 0.79% from $2.53 yesterday), approximately matching the gains made by the Canadian dollar (up 0.55% today).  JLL’s bid [...]

Canadian M&A Update: JLL Commences Patheon Bid at USD$2.00 per share

JLL Partners’ bid for Patheon Inc. (TSX: PTI), which has been brewing since December at the same USD$2.00 price, turned into a takeover bid today, with JLL announcing the lockup of shareholders holding 12,581,766 (about 13.8% by my calculation) of the subject shares.  As we noted in the Monday Deal Review February 23, Patheon has [...]

Merck and Schering-Plough in Canada

Following this morning’s announcement of Merck’s offer for Schering-Plough (0.5767 share of Merck and $10.50 in cash for each Schering-Plough share = $23.61 a share, a 34% premium, with Merck shareholders owning 68% of the combined company), we thought we’d take a look at the respective Canadian operations.  See what we turned up

Monday Deal Review: February 16, 2009

An interesting collection of goings-on in this week’s special President’s Day / Family Day edition of the Monday Deal Review

M&A Update

Following our last update, there have been a considerable number of bio/pharma M&A developments, so to bring you up to speed

It’s Raining M&A

Pfizer-Wyeth is certainly the biggest headline (see here for info on those companies in Canada), but it seems like a very popular time to be shopping.

Pfizer-Wyeth in Canada

Following today’s developments, some Canadian stats from the Pfizer Canada and Wyeth Canada web sites:

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