The cumulative value of mergers & acquisitions in the medical device space jumped nearly 50% during the 1st half of 2016, even as the total number of deals fell at a double-digit clip, according to MergerMarket. There were some 394 deals worth a total of $74.5 billion during H1 2016, according to the report, marking […]
Shire Plc.
Former Advanced BioHealing exec Clawson pleads guilty in VA fraud case
Former Advanced BioHealing executive Todd Clawson last week pleaded guilty to federal charges that he bribed U.S. Veterans Affairs Dept. doctors to use the company’s DermaGraft biologic wound dressing. Federal prosecutors accused Clawson, who left the company in 2012, of participating in a scheme to bribe VA physicians to use the DermaGraft diabetic foot ulcer treatment with a […]
Baxter to further trim stake in Baxalta ahead of $32B Shire buyout
Baxter (NYSE:BAX) plans to further trim its stake in Baxalta (NYSE:BXLT), the biopharm business it spun out last year, reducing its ownership to 5.1% ahead of Baxalta’s $32 billion takeover by Shire (NSDQ:SHPGY). In January, Baxter cut its stake in Baxalta from 19.4% to 13.8%. In the latest move, Deerfield, Ill.-based Baxter will exchange about 59.4 million Baxalta shares […]
Baxalta wants Shire to boost $30B takeover bid
(Reuters) — Baxalta (NYSE:BXLT), the spinout of Baxter‘s (NYSE:BAX) biopharmaceuticals division, wants Shire (NSDQ:SHPGY) to improve on its $30 billion bid significantly before it will engage in talks, while its Dublin-based rival could sweeten its offer if it gets to see the U.S. biotech company’s books, according to sources on both sides. Both camps are pushing hard behind […]
Cook elevates medical prez Yonkin to Cook Group prez | Personnel Moves
Cook said yesterday that Cook Medical president Pete Yonkman will become the new president of Cook Group Inc., as current president Kem Hawkins is slated to retire on July 1. “Under Kem’s leadership, we have seen exciting new opportunities to help patients, our employees, and the communities where we operate. With his guidance, our company […]
Shire ditches troubled Dermagraft skin substitute
MIT and Children’s Medical sue Shire over DermaGraft diabetic foot ulcer treatment
Shire expands regenerative medicine biz with Lotus Tissue Repair acquisition
Shire (NSDQ:SHPGY) said it aquired Cambridge, Mass.-based Lotus Tissue Repair, which is developing the 1st protein replacement therapy to treat dystrophic epidermolysis bullosa, a rare genetic disease.
The purchase includes an upfront payment and later milestone payments, but specific details were not released.
Shire wins DermaGraft nod in Canada
Venture capital: Medical device “Big Exits” on the rise | Wall Street Beat
Venture-backed M&A activity in 2011 was higher than any other year since 2005, according to a new report tracking trends in lifesciences.
The medical device industry in 2011 had 18 "Big Exits," defined as venture-backed acquisitions where the up-front payment totaled $75 million or more.