Pfizer (NYSE:PFE) and Allergan (NYSE: AGN) are in the final stages of discussion to close a $150 billion all-out stock deal as the U.S. Treasury prepares to clamp down on tax inversion deals. Pfizer will pay $370 to $380 per share for Allergan, according to Reuters. Allergan shares are trading at $312.46 as of 4:02 p.m. […]
Allergan
Valeant, Ackman can’t dodge insider trading case from failed Allergan takeover
(Reuters) — A U.S. judge said Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) and activist hedge fund manager William Ackman must face a lawsuit accusing them of insider trading in Allergan (NYSE: AGN) before making an unsuccessful takeover bid for the maker of Botox. In a Nov. 9 decision, U.S. District Judge David Carter in Santa Ana, Calif., […]
Pfizer-Allergan deal a prelude to splitting company
(Reuters) — A Pfizer (NYSE:PFE) merger with Ireland-based Allergan (NYSE: AGN), in addition to providing tax benefits, would bolster the U.S. drugmaker’s growth prospects should it decide to sell or spin off its portfolio of products that have gone off patent. Many Wall Street analysts believe Pfizer will decide to split late next year, after compiling […]
Allergan acquires EarFold ear implant assets
Allergan (NYSE: AGN) said today it agreed to acquire Northwood Medical’s EarFold implant technology designed to correct prominent ears, with or without asymmetry, in patients 7 years or older. The device from London-based Northwood is a small implantable strip of nitinol metal alloy that is inserted under the skin and grips ear cartilage, enhancing or creating the […]
Possible Pfizer-Allergan tie-up sparks fresh tax inversion angst on Capitol Hill
(Reuters) — Pfizer (NYSE:PFE) faces political risks in Washington if it proceeds with a bid for Allergan (NYSE: AGN), but with little chance of legislation to curb such tax inversion deals, the Obama administration may be able to throw up only limited obstacles. Lawmakers are widely seen as unlikely to tackle major tax code changes before […]
Pfizer, Allergan in talks on merger
(Reuters) — Allergan (NYSE: AGN) and Pfizer (NYSE:PFE) today confirmed that they’re in preliminary, friendly talks on a potential merger, a deal that would create the world’s largest drugmaker. Both Pfizer and Allergan said no agreement has been reached and declined to discuss any terms that might lead to such a tie-up. Allergan shares jumped 8.2% to […]
Allergan closes $300m AqueSys buyout
Allergan (NYSE: AGN) said today that it closed its $300 million, all-cash acquisition of AqueSys and its Xen soft glaucoma stent, in a deal that also includes unspecified milestone payments. The device made by Aliso Viejo, Calif.-based AqueSys is designed to treat glaucoma by shunting intra-ocular fluid from the anterior chamber of the eye into the sub-conjunctival […]
For Apollo Endosurgery, a bet on older Allergan tech starts paying off
Apollo Endosurgery spent $90 million-plus nearly two years ago to acquire the Lap-Band gastric band weight loss system and the in-development Orbera intra-gastric balloon from Allergan (NYSE: AGN). A well-trained, international sales force also came with the acquisition. Recently, I asked founder, president & chief commercial officer Dennis McWilliams if the investment was worth it, […]
Ex-Medtronic strategy veep Oesterle joins VC shop New Enterprise Associates | Personnel Moves
Venture capital firm New Enterprise Associates said today it picked up ex-Medtronic (NYSE:MDT) executive veep Dr. Stephen Oesterle as a venture partner for the firm. Prior to being an executive veep for the medical giant, Oesterle served as senior veep of medicine and technology, and served as a member of the executive committee for 14 years, […]
Allergan to drop $300m on AqueSys
Allergan (NYSE: AGN) last week said it agreed to pay $300 million plus milestones to acquire AqueSys and its Xen soft glaucoma stent in an all-cash deal. The device made by Aliso Viejo, Calif.-based AqueSys is designed to treat glaucoma by shunting intra-ocular fluid from the anterior chamber of the eye into the sub-conjunctival space. The […]
Allergan closes $125m Oculeve buy
Allergan said yesterday it closed its purchase of dry eye disease device developer Oculeve for $125 million in up-front payments in addition to unspecified commercialization milestones. South San Francisco-based Oculeve is developing a product called OD-01, a non-invasive nasal neurostimulation device designed to increase tear production in patients with dry eye disease, Allergan said. Oculeve has completed […]