Thursday, March 12, 2015
Raleigh, N.C.-based Salix Pharmaceuticals has received an unsolicited proposal from Endo International, a global specialty healthcare company headquartered in Dublin, Ireland, to acquire all outstanding shares of common stock of the company for a combination of 1.4607 shares of Endo common stock and $45 cash per share of common stock. Based on the closing stock price of Endo on March 10, 2015, the transaction is valued at $175 per Salix share.
Annapolis, Md.-based PharmAthene will launch a realignment plan that includes reducing its staffing levels by approximately two-thirds. Eric Richman, president and CEO, will remain a member of the board of directors but will no longer serve as an officer of the company, effective March 11. He will continue to play a key role in managing the ongoing litigation, other legal matters and strategic transactions in his role as director.
Concordia Healthcare, a Canada-based diverse healthcare company focused on legacy pharmaceutical products, orphan drugs and medical devices for the diabetic population, will acquire substantially all of the commercial assets of privately held Covis Pharma and Covis Injectables, headquartered in Zug, Switzerland, for $1.2 billion in cash.
Johnson & Johnson Innovation has opened JLABS @South San Francisco (JLABS @SSF), a 30,000-square-foot incubator located in South San Francisco, Calif. The Johnson & Johnson Innovation, JLABS site can accommodate up to 50 startups from across the healthcare spectrum including biotech, pharmaceutical, medical device, consumer and digital health.