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’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.
CDS report: Markets mixed as traders digest earnings
This CDS report was written by Markit’s Gavan Nolan
European credit indices gave back some of their recent gains, prompted by profit-taking and mixed signals from the US. The Markit iTraxx Europe index was back above 100bp,
Rumourtrage – pharma edition
Predictable really.
After the recent flurry of big deals in the pharmaceutical sector – think Pfizer’s $68bn bid for Wyeth, Roche’s $47bn offer for the chunk of Genentech it did not already own and Merck’s $41bn takeover of Schering-Plough – it was only a matter of time before the rumour mill started to whirl into action.
Job cuts – the details
Caterpillar, the world’s largest maker of construction equipment, said it would cut 20,000 jobs as it reported an annual fall of more than 32% in Q4 profits – a month after slashing executive salaries and jobs at large plants.
Pfizer seals $68bn Wyeth purchase
Pfizer on Monday unveiled a $68bn takeover of Wyeth, reasserting its flagging position as the world’s largest pharmaceuticals group and paving the way for a fresh bout of consolidation across the sector.
Pfizer nears $67bn deal for Wyeth
Pfizer was nearing agreement Sunday night on a deal to buy rival drug maker Wyeth for about $67bn in a move that would reshape the global drug industry. Pfizer will pay the equivalent of $50.19 per share for Wyeth – comprising $33 in cash and 0.985 of a share of Pfizer stock for each Wyeth share.
Pfizer eyes possible merger with rival
Pfizer, the world’s biggest pharmaceutical group, is considering acquiring a large rival drugs company to improve its financial health, in a move that could trigger a fresh round of mergers in the sector.
Speculation on Bristol as takeover talk grows
Bristol-Myers Squibb heightened speculation that it was a takeover target on Thursday, as the US drugmaker elevated interim chief executive James Cornelius to become its permanent leader. Mr Cornelius moved from the Bristol board to serve as interim chief executive last year,
Sanofi board split over $54bn deal to acquire Bristol-Myers
A boardroom split has opened up at Sanofi Aventis, France’s largest drug company, over a proposed $54bn deal to acquire Bristol-Myers Squibb that would create one of the world’s largest pharmaceutical groups,