Deals Of The Week: Roche/Galaxy, Mallinckrodt/CNS Therapies, Valeant/QLT
Cardiome may go it alone with atrial fibrillation drug vernakalant after Merck exited a 2009 partnership around the drug, but another possibility is that Cardiome will seek a buyer.
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The Canadian biotech has put itself on the block after a year of changes that have transformed the company from a commercial-stage entity with pipeline assets to a one-drug tax play.
Covidien’s pharmaceutical arm Mallinckrodt has announced its plans to acquire St. Paul, MN-based CNS Therapeutics for $100 million. The acquisition will complement Mallinckrodt’s own generic pain therapeutic offerings. Mallinckrodt is on track to be spun out of Covidien in mid-2013.
Higher regulatory hurdles for anti-arrhythmic drugs have pushed Merck to discontinue the development of Cardiome’s oral vernakalant.