The Next Wave Of M&A Sweeps In, Bringing Novel Approaches That May Be Here To Stay
The first half of 2014 has been one wild M&A ride for the pharma industry, with some of the most valuable deals pharma has seen in years proposed. They have involved everything from asset swaps to mega-mergers, activist investors and tax inversion strategies, suggesting industry is testing different approaches to address a similar challenge: increasing pressure from payers to reduce health care and drug spending.
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Actavis’ proposal to buy Forest Labs for $25 billion in stock and cash was driven by consolidating customers and fierce competition in traditional Western markets. Different pressures, namely the tough-to-manage patent cliff, as well as leadership succession issues and investor unrest, drove Forest into the arms of a suitor.
The two companies announced more details about their COVID-19 vaccine development plan, including a $185m upfront payment and $113m equity investment from Pfizer.
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