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’Snap news
Breaking pre-market news on Tuesday,
- Connaught shares suspended; BBC says company on the bring of administration – statement, statement and report.
- Barclays says Robert E Diamond Jr to be its new CEO – statement.
Snap news
Breaking pre-market news on Wednesday,
- Centrica to invest ₤725m to build offshore wind farms – statement.
- Nic Nicandrou joins Prudential as Chief Financial Officer from Aviva – statement.
- Astrazeneca says it has withdrawn regulatory submissions for certain uses of its Zactima treatment – statement.
Snap news
Breaking pre-market news on Wednesday,
- Cadbury reports “excellent” third quarter results ahead of Kraft put up or shut up deadline – statement.
- BAA announces sale of Gatwick airport to an entity controlled by Global Infrastructure Partners for £1.51bn – statement.
Vaccines give a boost to pharma M&A
A recent flurry of deals in the pharmaceutical sector highlights what savvy investors have known for some time — vaccines are the new M&A targets.
The Wall Street Journal notes on Monday that the recent health scares over global pandemics and the growing involvement of governments in purchasing vaccines en masse have become key driving forces in the thriving world of pharma M&A.
J&J buys 18% stake in Crucell
Johnson & Johnson signalled its diversification into vaccines on Monday with an equity and investment deal in excess of €302m ($442m) in Crucell that could secure it control of the world’s first universal flu jab.
J&J seeks to cut price of Elan deal
Johnson & Johnson is negotiating to reduce the price of a previously announced $1.5bn deal with Elan Corp, after a US federal judge ruled this month that part of the deal breached a partnership between the Irish biotech firm and Biogen Idec,
J&J to buy stake in Ireland’s Elan
Johnson & Johnson on Thursday said it will buy an 18.4% stake in Irish biotech company Elan, in a $1.5bn bid to crack the elusive but potentially lucrative market for Alzheimer’s disease treatments, reports the WSJ.