Friday, May 29, 2015
Gilead Alberta, a wholly-owned subsidiary of Gilead Sciences, has opened the first of two new laboratory buildings at its Edmonton, Canada campus, and announced an additional $100 million investment to further expand and upgrade the site as the biopharmaceutical company broadens its pipeline of treatments in areas of unmet medical need.
The Bayer Group has released a financial update for 2014. The company had strengthened its life science businesses HealthCare and CropScience through acquisitions and decided to demerge the MaterialScience business. Dr. Marijn Dekkers, management board chairman, also listed four strategic priorities for Bayer’s successful further development.
Mylan was asked by the Irish Takeover Panel to issue the following clarification and retraction in accordance with the Irish Takeover Rules, relating to its firm intention to make an offer to acquire Perrigo. The clarification and retraction relates to certain forward-looking statements made by Mylan specifically during the pendency of the offer period concerning its long-stated target since 2012 of at least $6 in adjusted diluted earnings per share (EPS) by 2018, including recently in Mylan’s first quarter earnings press release of May 5.
AbbVie has completed the acquisition of Pharmacyclics, enhancing AbbVie’s scientific and commercial presence in oncology. Pharmacyclics primarily is aligned with the $24 billion global hematological oncology market with Imbruvica (ibrutinib), a BTK-inhibitor used to treat hematological cancers.
A consortium—consisting of entities affiliated with Shanghai Fosun Pharmaceutical Group, HOPU Investments, China Everbright’s Healthcare Fund and WuXi PharmaTech—has signed a merger agreement to acquire Ambrx. The transaction is expected to close in the second quarter of 2015, subject to receipt of certain regulatory approvals and satisfaction of customary closing conditions.
In advance of the July 1 spin-off of Baxalta from Baxter International, executives from the companies have shared their vision, strategies and initiatives underway to drive product innovation and accelerated growth over the long-term. Each company has provided updates on its financial outlook, new product pipeline and growth prospects.