Tuesday, February 9, 2016
Abbott has announced a definitive agreement to acquire Alere, significantly advancing Abbott’s global diagnostics presence and leadership. Abbott will pay $56 per common share at a total expected equity value of $5.8 billion. Once the transaction is completed, Abbott will become a leading diagnostics provider of point-of-care testing. Abbott’s total diagnostics sales will exceed $7 billion after the close.
Acorda Therapeutics has entered into an agreement to acquire Biotie Therapies for €23.5680 per ADS in cash, or the equivalent of $25.60 per ADS based on an exchange rate of 1.0864 U.S. dollars to euros, which values Biotie at approximately $363 million.
Johnson & Johnson has announced restructuring actions in its Medical Devices businesses to better serve the needs of customers and patients in today’s evolving healthcare marketplace. The company is undertaking actions to strengthen its go-to-market model, accelerate the pace of innovation, further prioritize key platforms and geographies, and streamline operations while maintaining high quality standards.
Shire and Baxalta have reached an agreement to combine. Baxalta shareholders will receive $18 in cash and 0.1482 Shire ADS per Baxalta share. Based on Shire’s closing ADS price on January 8, 2016, this implies a total current value of $45.57 per Baxalta share, representing an aggregate consideration of approximately $32 billion. The exchange ratio is based on Shire’s 30-day trading day volume weighted average ADS price of $199.03 as of Jan. 8, which implies a total value of $47.50 per Baxalta share.
Mass Innovation Labs, an accelerated commercialization space, has signed 10 member companies since opening its doors in May 2015, including CRISPR Therapeutics, Imagen Biopharma, Gritstone Oncology, WaveGuide, Radius Health, TCR2 and Editas. Mass Innovation Labs’ member companies account for more than $1 billion in startup R&D capital in one location, and have achieved many important milestones after receiving operational support through the Jumpstart program.
Purdue University is investing more than $250 million in the life sciences over the next five years to advance research that both improves lives and supports Indiana’s critical life sciences business sector.
X-Chem, a privately owned biotechnology company based in Waltham, Mass., has been spun out to the shareholders of the parent company of Pharmaceutical Product Development (PPD) as an independent, privately-owned biotechnology company.
Evotec has announced an EVT Execute collaboration aimed at providing a complete solution to UCB‘s global sample management requirements. Evotec will manage UCB’s compound collection out of its state-of-the-art sample management facility in Toulouse, France. The agreement covers an initial period of five years.
Dyadic International, a global biotechnology company based in Jupiter, Fla., has announced the closing of the previously announced sale of substantially all of the assets of its Industrial Technology business to DuPont’s Industrial Biosciences business for $75 million in cash.