Mergers & Acquisitions and Deals
I’m trying to get caught up on a lot of stuff since taking a few days of to visit family and friends. Here are some of the stories recently regarding mergers & acquisitions as well as deals.
PharmaLive: SurModics Acquires Brookwood Pharmaceuticals
Surmodics is a drug delivery company and Brookwood is also in the same drug delivery area but has experience in long acting injectable drugs. THis seems on the surface to make sense but I’ve not dug into enough to give further opinion.
Merck to buy NovaCardia: SignOnSanDiego.com
PharmaLive: Merck & Co., Inc. to Acquire NovaCardia, Inc., to Boost Clinical Pipeline of Cardiovascular Drug Candidates
Merck wants to add to its cardiovascular drug line and so is acquiring NovaCardia for its lead candidate KW-3902 for treatment of acute congestive heart failure. THe price of $350 million seems cheap if the drug lives up to all its expectations. NovaCardia had planned on an IPE and raising an estimated $86 million but Merck got to them before the IPO could happen.
Glaxo, Targacept sign $1.5 billion nicotine drug deal: SignOnSanDiego.com
Glaxo wants to get into the nicotine derived drug business by doing a deal with Targacept. It should be noted that Targacept came out of the tobacco industry in an effort to see if products derived from tobacco could serve as drugs. This area has had its share of both positive and negative results. Pfizer recently had their smoking cessation product Chantix approved. Targacept also as a deal for an Alzheimer drug deal with AstraZeneca.
Overall, I don’t expect the M&A activity or dealing making to cool of any time soon.
Technorati Tags: Brookwood Pharmaceuticals, Glaxo, GlaxoSmithKline, Merck, NovaCardia, Targacept, Surmodics
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