The Cross-Border Biotech Blog

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

Tag Archives: Patheon

Monday Deal Review: March 17, 2014

  Welcome to your Monday Biotech Deal Review for March 17, 2014, and happy St. Patrick’s day to the Irish (or Irish-for-a-day) among us!

This past week saw Patheon complete their plan of arrangement with JLL/Delta Patheon Holdings, wherein JLL/Delta acquired all outstanding shares of Patheon for US$9.32 cash a share. The 2 entities have now been amalgamated and will operate under Patheon Inc., with DSM Pharmaceutical Products also now combined with Patheon.

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Monday Deal Review: February 24, 2014

  Welcome to your Monday Biotech Deal Review for February 24, 2014!

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Monday Deal Review: February 10, 2014

  Welcome to your Monday Biotech Deal Review for February 10, 2014! The big news this week was Valeant’s proposed acquisition of another skin care innovator, PreCision Dermatology, for $475 million. Hit the break for more details on this as well as the rest of the week’s major biotech news.

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Monday Deal Review: November 25, 2013

  Welcome to your Monday Biotech Deal Review for November 25, 2013! This week saw Patheon enter into an agreement which will take the company private, once the necessary shareholder and court approval is obtained. Futher, Cardiome has closed its acquisition of Swiss-based Correvio in a cash and share deal. On the financing side of things, Aeterna Zentaris announced that it is seeking to raise US$13.7 million with its previosly announced public offering.

Hit the break the see the details on these deals, as well as the rest of the week’s major biotech news.

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Monday Deal Review: January 7, 2013

Happy New Year and welcome to your Monday Biotech Deal Review for January 7, 2013! While biotech gets back to business for 2013 after the holidays, the last 2 weeks have not seen a flurry of activity.  Nonetheless, on the M&A side, IBEX Technologies acquired Bio-Research Products, while Biosign and Patheon completed private financings of their own.  Further, Warnex has begun trading under the NEX and Stellar Pharmaceuiticals has completed their planned name change to Tribute Pharmaceuitcals.  Get more details on these stories as well as last week’s other major biotech news by clicking through.   Read more of this post

Monday Deal Review: December 24, 2012

Welcome to your Monday Biotech Deal Review for December 24, 2012.  While the past week was relatively slow as everyone prepared for holiday breaks, there was nonetheless a series of option grants, commercial agreements and even the closing of a major private placement and conversion of a convertible debenture.  Click onward to see more, and of course, we wish you a wonderful holiday and a happy new year!

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Monday Deal Review: December 17, 2012

Welcome to your Monday Biotech Deal Review for December 17, 2012.  This week saw the completion of a number of previously announced acquisitions, as well as the announcement of new ones. The latter group includes Gilead’s acquisition of YM Biosciences and Helix’s sale of Rivex to Pharmascience. See the details on these major transactions, as well as the past week’s other biotech news, by clicking through.

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Monday Deal Review: December 3, 2012

Welcome to your Monday Biotech Deal Review for December 3, 2012.  An unusually high number of private placements characterized the past week’s Canadian biotech activity, with Biosign Technologies having closed one private placement and following up with another. Cynapsus has filed a short form prospectus, following last week’s filing by Allon Therepeutics, and Patheon has indicated they intend to make a cash tender offer for outstanding senior notes.  See more detail on these and last week’s other major biotech stories by clicking through!
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Monday Deal Review: November 26, 2012

Welcome to your Monday Biotech Deal Review for November 26, 2012. This past week saw Valeant continue their aggressive stock repurchase program. Valeant plans to repurchase up to $1.5 billion worth of its own stock, senior notes or debt. Further, we saw Paladin expand its potential sales reach with the purchase of a controlling stake in Mexico-based Ativa Pharma.  Get the full breakdown of these and many more of the past week’s major biotech stories.   
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Monday Deal Review: November,5 2012

Welcome to your Monday Biotech Deal Review for November 5, 2012.  The past week saw a flurry of activity by Patheon, as it seeks to fund the acquisition of Banner Pharmacaps from Netherlands based VION.  Functional Therapeutics, on the other hand, has indicated that their previously announced spin-out agreement has been terminated.  Check out the link below for more detail on these stories, as well as the other major biotech stories of the past week.
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Monday Biotech Deal Review: December 6, 2010

Welcome to your Monday Biotech Deal Review.  There was some activity with Angiotech last week, with extension agreements being executed extending certain deadlines dealing with Angiotech’s proposed recapitalization as well as a preliminary loss in court against Rex Medical L.P.  Read on to learn more, as well as your usual assortment of biotech news.  Read more of this post

Monday Biotech Deal Review: June 14, 2010

This week saw a series of transactions bringing Patient Home Monitoring to the TSXV with an accompanying private placement and a shiny new SEDA from (who else) Yorkville; ConjuChem is (pending court approval) on its way out of CCAA with some cash on hand; and the struggle between Northstar and its ex-CEO continues in the dramatic form of a directors circular. Check out these developments plus a full crop of other Canadian deal activity after the jump…

Monday Biotech Deal Review: May 3, 2010

I guess the excitement of BIO was driving deals this week. To the delight of the economic development folks, government was in on the action — Ontario announced a BIP investment and announced a whole new strategy, and OICR funded three equity deals. The private sector was also out in force, with four new licensing deals (including some interesting structures) and more securities than the week might otherwise … warrant. Keep reading after the jump…

Monday Biotech Deal Review: April 12, 2010

This week deals are back in full force, despite the fact that Tengion’s IPO was less popular than expected and Neovacs scaled back its planned IPO.  Highlights include Patheon raising $280 million from its note placement, Verio Therapeutics getting phagocytosed by Fate (but remaining in Ottawa) and Lorus Therapeutics’ F-1 filing for a $17.5 million unit offering. Read more of this post

Monday Biotech Deal Review: January 18, 2010

Another strong week for Canadian deals. Light on securities, but heavy on M&A, licensing and partnerships.  MedGenesis and Cyplasin brought assets in, Canada and Australia are doing a do-sa-do (Topigen-Pharmaxis, YM-Cytopia), and Trillium Therapeutics signed an out-license to Biogen, while Medicure is shopping its lead program around.  Less good news for Haemacure and Forbes Medi-Tech, but plenty of other deal info, including 7 HTX investments, to be found Read more of this post

Monday Biotech Deal Review: December 7, 2009

This was a fairly busy week for Canadian biotech deals, including a new brain-y collaboration for MaRS; peace at Patheon; some overallotment and some underallotment; some diversification by Canadian pharma (even if not on quite the scale of Pfizer’s deal with Protalix); and some trans-Atlantic acquisitiveness of a Canadian company’s own devicing [sic., sorry].  Don’t stop now… Read more of this post

Monday Biotech Deal Review: September 28, 2009

B&W_BigNickelLots of deal news this week, including the Canadian action noted at the time: the iCo-CPDD deal and ethica’s in-license transaction.  Plus there was plenty of international excitement today (repentance notwithstanding) with Abbott’s $6.6 billion Solvay play and J&J’s new 18% stake in Crucell.  Keep reading for a securities-palooza and plenty more after the jump…

Update Released by Patheon’s Special Commmittee

Patheon’s Special Committee provided an update today:

“The Special Committee of Independent Directors of Patheon Inc. … today provided an update on its discussions with Lonza Group AG … regarding Lonza’s previously announced non-binding proposal to acquire all of the outstanding restricted voting shares of the Company at a price of US$3.55 per share. The Special Committee also updated shareholders on Patheon’s litigation connected with the unsuccessful offer by JLL Patheon Holdings…”

You can check out the rest after the jump…

Patheon Special Committee Responds to JLL Statements

Patheon’s special committee issued a press release today in which it:

“commented … on the recent expiry of the unsuccessful bid by JLL … and recent statements by JLL regarding the previously announced proposal by Lonza … to acquire all of the outstanding Shares at a price of US$3.55 per share.”

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Monday Deal Review: August 24, 2009

Lonza Offers $460 Million for Patheon, JLL Rejects

JLL Partners’ long-standing bid for Patheon took a turn this morning as Lonza Group AG announced their own bid.

Here’s Lonza’s press release.

Here’s JLL’s response, rejecting the offer.

Stay tuned…

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Monday Deal Review: August 17, 2009

B&W_BigNickelIn addition to the highlights already noted — Enobia’s $50 million r0und, and the LOM – BioQuest joint venture — there was plenty of other Canadian deal activity this week.  Check it out after the jump…

Globe and Mail Story on Patheon-JLL Battle

Hockey_fightBoyd Erman at the Globe and Mail wrote about JLL’s long battle for Patheon in this morning’s paper, following yesterday’s dueling press releases (which I tweeted about @crossborderbio, also appearing to your right on this blog). 

Particularly if you’re new to this saga, I encourage you to read the whole article; but for those who have been getting their info here, I’d note a few particular tidbits about the long and previously good history between the parties:

“… it was JLL’s investment of $150-million in Patheon two years ago that enabled the company to restructure and get through tough times …”

and

“… Patheon was struggling in large part because the 2004 acquisition of a Puerto Rican drug maker called MOVA had gone sour, becoming a big money-loser …”

and notably, clarifies that Viso was the former owner of MOVA.

Maher Yaghi, an analyst at Desjardins Securities who Erman quotes several times in the story, takes a Solomonic approach, reportedly pegging the valuation at $3.75/share which splits the difference between JLL’s USD$2 offer and the $5 valuation Patheon is sticking to (so far).

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Monday Deal Review: July 20, 2009

B&W_BigNickelThis week’s deal review has some more info about Ambrilia’s deal with Kotinos that I tweeted about at the time (my Twitter stream shows up in the sidebar on the right here), as well as an update on JLL-Patheon and a raft of securities deals, including an issuer bid after the jump…

Monday Deal Review: June 22, 2009

B&W_BigNickelA whole gaggle of securities deals, a cluster of licenses and a flock of M&A all migrate back to Canada for summer in this week’s Monday Deal Review.  Plus, a deal that may improve the medical isotope shortage.   after the jump…

Monday Deal Review: June 8, 2009

B&W_BigNickelWell, it’s a day late, but no dollars short.  Here is an action-packed Deal Review.  Read on for some debt settlement, some creditor un-settlment (a BIA filing), and all kinds of M&A related rejigging…

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Patheon and JLL Head (Back) to Court

Hockey_fightIf you’ve been following the Canadian takeover saga that is JLL Partners’ bid for Patheon, you’ll be not at all surprised to learn that litigation is now pending.  Read all the gory details from today’s announcement by Patheon’s Special Committee of Independent Directors after the jump…

Monday Deal Review: May 25, 2009

bignickel1This week’s deal review has a couple of new placements, a couple of new plants, a very interesting claim asserted in Boston, and many, many updates on deals we have previously covered.  Check out the full review after the jump…

Monday Deal Review: May 11, 2009

bignickel1Check out the latest Patheon-JLL developments, a licensing deal that looks like a subcontracting arrangement, a plan of arrangement M&A that looks like a license, and the rest of the Canadian deal info from this past week after the jump…

Monday Deal Review: May 4, 2009

bignickel1Canadian deal and company news this week:

Big drama at Patheon’s AGM, a public offering (!), some collaboration news and a completed private placement.

after the jump…

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