The anti-trust regulators wrung concessions aimed at reducing J&J’s shadow over the trauma device market from the health products giant, according to the news service, citing "a person familiar with the matter."
"The deal will be cleared by the [European] Commission," according to the source, "who declined to be identified because of the sensitivity of the matter," Reuters reported.
That means a decision on the takeover bid could come sooner than the April 26 deadline, according to the source. And a second un-named person "with direct knowledge of the case" told Reuters that J&J gave way to EU regulators over trauma products for bone fractures.
EuroZone regulators extended their probe into the merger last November on anti-trust concerns.
Study: Patent-sharing the rising tide that lifts all boats
Making a patented technology available to competitors increases the likelihood of innovation, boosting profits for the patent owner and improving the market in general, according to a University at Buffalo study. Read more
Standard & Poor’s boosts CareFusion rating
Standard & Poor’s raised its credit rating on CareFusion (NYSE:CFN) from "BBB-" to "BBB," reflecting its "belief that CareFusion’s credit metrics will remain somewhat conservative for a ‘modest’ financial risk profile, while recognizing the impact of its product concentration on its
business risk profile." Read more
Delcath inks Spanish training deal
Delcath (NSDQ:DCTH) followed up a deal with a French cancer center to establish a training program for its Chemosat cancer treatment device with a similar deal in Spain. Read more
Kozlowski is back in New York
Dennis Kozlowski, whose embezzlement conviction led to the breakup of the Tyco
conglomerate and the spinout of Tyco Healthcare as Covidien, is back in new York – albeit still in the pokey. Read more
DoD exercises option on $71M Zimmer contract
The U.S. Defense Dept. exercised a 1-year option on a $71.2 million deal with Zimmer (NYSE:ZMH) for "orthopedic hip, knee, spine, and extremity ‘procedural packages’ which includes various products needed for trauma implants. Read more
C-level shifts at Alphatec prompt NASDAQ warning
Alphatec (NSDQ:ATEC) said a boardroom shuffle put it out of compliance with NASDAQ stock exchange rules, but that it plans to regain compliance "as soon as practicable" and certainly within the exchange’s "cure period" ending April 26.
Alphatec said it put non-executive chairman Leslie Cross in the corner office Feb. 22 and named president & CEO Dirk Kuyper president of global commercial operations.
That meant an even split between executive and non-executive directors; NASDAQ rules require a majority of board members to be independent. Read more
PositiveID taps investor relations shop Trilogy Capital
PositiveID (OTC:PSID) said it tapped investor relations consultancy Trilogy Capital Partners to manage its investor relations campaign. Read more
- Stealth Therapeutics looks for $1.5M
- Medtronic, Elliott Management join $24M round for REVA Medical
- Medifocus announces $2M private placement
- Emergent Medical Partners pulls in $70M
- Tepha lands $11.3M
- Young Innovations announces 125k-share buyback plan
- Spectrascience details debt offering
- InVivo Therapeutics details private placements, warrants
- Abbott (NYSE:ABT): Deutsche upgrades from Hold to Buy, sets $70 price target.
- Amgen (NSDQ:AMGN): Stifel Nicolaus resumes coverage at Hold."
- Covidien (NYSE:COV): Leerink Swann maintains "outperform" rating, $60 price target.
- Medtronic (NYSE:MDT): Barclays Capital maintains "2-equal weight" rating, $41 price target.
- Stryker (NYSE:SYK): Credit Suisse initiates coverage at "outperform," $63 price target.
- Unilife (NSDQ:UNIS): Leerink Swann initiates coverage at "outperform," sets $5-$6 price target.