Deal Watch: AbbVie Cancels Shire Buyout, Blaming U.S. Tax Policy Revisions
Actavis potentially bolsters its GI franchise by optioning rights to peptide ghrelin agonist relamorelin and also the opportunity to buy out Rhythm Health. Meanwhile, Celgene increases its stake in Sutro and Janssen joins the Ebola fight.
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US Chamber of Commerce wants court to eliminate IRS rule that blocked Pfizer's acquisition of Allergan; AbbVie hit with second suit over its 2014 proposed acquisition of Shire.
Celgene Corp. has deepened its investment in antibody R&D, striking a collaboration with Sutro Biopharma to design and develop next-gen antibodies and to manufacture a proprietary Celgene candidate. Sutro gets cash, biobucks, and hi-profile validation of its multi-faceted non-cell antibody platform.
Indivior aims to cut costs by restructuring its US commercial operations and reducing discretionary spending, in order to improve flexibility in the face of the COVID-19 pandemic and to invest in R&D.