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Sirtex Medical

Sirtex accepts CDH acquisition offer, moves away from Varian

June 14, 2018 By Sarah Faulkner

In the ongoing back-and-forth to acquire Sirtex Medical (ASX:SRX), it seems that Varian Medical‘s (NYSE:VAR) $1.2 billion bid just wasn’t enough. Varian said today that it heard from Sirtex that the company’s board couldn’t turn down the $1.41 billion unsolicited offer from China’s CDH Investments. The bid from CDH Investments came in at a 20% premium on Varian’s […]

Filed Under: Drug-Device Combinations, Mergers & Acquisitions, Oncology, Wall Street Beat Tagged With: CDH Investments, Sirtex Medical, Varian Medical Systems

Varian stands on $1.28B offer for Sirtex

May 22, 2018 By Sarah Faulkner

Varian Medical (NYSE:VAR) said today that it stands behind its initial $1.28 billion bid to acquire Sirtex Medical (ASX:SRX) in the wake of a $1.41 billion counter offer from China’s CDH Investments. The unsolicited bid from CDH Investments came in at a 20% premium on Varian’s A$28-per-share offer, prompting Sirtex to reconsider a merger that already has approval from U.S. antitrust […]

Filed Under: Drug-Device Combinations, Mergers & Acquisitions, Oncology, Regulatory/Compliance, Wall Street Beat Tagged With: CDH Investments, Sirtex Medical, Varian Medical Systems

China’s CDH Investments counters Varian with unsolicited $1.4B bid for Sirtex

May 4, 2018 By Brad Perriello

Sirtex Medical (ASX:SRX) said today that it’s fielding an unsolicited, $1.41 billion counter-offer from China’s CDH Investments that trumps a previous, $1.28 billion bid from Varian Medical (NYSE:VAR) that’s already won approval from U.S. and German regulators. CDH’s A$33.60-per-share offer is a 20% premium on Varian’s initial A$28-per-share offer and prompted Sirtex to seek to scuttle a […]

Filed Under: Drug-Device Combinations, Mergers & Acquisitions, Oncology, Wall Street Beat Tagged With: CDH Investments, Sirtex Medical, Varian Medical Systems

U.S., German antitrust authorities clear Varian’s $1.3B Sirtex buyout

March 15, 2018 By Sarah Faulkner

U.S. antitrust authorities and the German Federal Cartel Office cleared Varian Medical‘s (NYSE:VAR) $1.3B proposed buyout of Sirtex Medical (ASX:SRX), Varian reported today. The companies first announced that they inked a deal for Varian to acquire all of Sirtex’s outstanding shares in January this year. The transaction is slated to close in late May. Get the full story at our […]

Filed Under: Mergers & Acquisitions, Oncology, Wall Street Beat Tagged With: Sirtex Medical, Varian Medical Systems

Varian Medical to pay $1.3B for Sirtex

January 30, 2018 By Brad Perriello

Varian Medical (NYSE:VAR) yesterday said it agreed to pay nearly $1.3 billion for Australia’s Sirtex Medical (ASX:SRX) and its anti-cancer microspheres. The A$28-per-share offer, which values Sirtex at A$1.59 billion (about $1.28 billion), is slated to close in late May, Palo Alto, Calif.-based Varian said. It’s part of a bid to broaden that company’s oncology portfolio. Get the […]

Filed Under: Drug-Device Combinations, Mergers & Acquisitions, Oncology, Radiosurgery/Radiation therapy Tagged With: Sirtex Medical, Varian Medical Systems

Sirtex swings to a loss after ‘challenging’ year

August 23, 2017 By Sarah Faulkner

Shares in Australian cancer treatment developer Sirtex Medical (ASX:SRX) plunged more than 15% yesterday after the company posted a net loss of -A$26.9 million in 2016, compared to a profit of A$54 million the year before. Sirtex has faced a barrage of obstacles this year, including a number of clinical trials that failed to meet primary endpoints. […]

Filed Under: Clinical Trials, MassDevice Earnings Roundup, Oncology, Pharmaceutical, Wall Street Beat Tagged With: Sirtex Medical

Sirtex shares jump on restructuring plan, 15% headcount reduction

June 28, 2017 By Fink Densford

Sirtex Medical (ASX:SRX) saw shares jump today after revealing plans for a major restructuring as the company looks to cut its headcount and focus on its “profitable core business.” The company said it underwent an “extensive review of the business” to identify where it could improve efficiencies. The review led to an initial $7 million reduction […]

Filed Under: Business/Financial News Tagged With: Sirtex Medical

Sirtex SIR-spheres fail to meet primary endpoint in head-to-head trial

June 5, 2017 By Sarah Faulkner

Sirtex Medical (ASX:SRX) shares are down slightly today after its radioactive microspheres failed to meet the primary endpoint in a liver cancer trial. The company’s SIR-Spheres Y-90 resin microspheres did not improve survival in patients with advanced hepatocellular carcinoma compared to a group treated with the current standard of care, sorafenib. Get the full story at […]

Filed Under: Clinical Trials, Drug-Device Combinations, Oncology, Wall Street Beat Tagged With: Sirtex Medical

Sirtex hops after Aussie court dismisses shareholders injunction

May 30, 2017 By Brad Perriello

Sirtex Medical (ASX:SRX) said yesterday that Australia’s Federal Court dismissed a lawsuit filed by shareholders alleging it breached continuous disclosure obligations and engaged in misleading and deceptive conduct. The lawsuit alleges that the double-digit growth outlook for dose sales for its fiscal year 2017, which the company announced on Aug. 24 last year, “has no reasonable grounds.” Yesterday […]

Filed Under: Legal News, Oncology, Wall Street Beat Tagged With: Sirtex Medical

Colorectal cancer patients treated with SIR-spheres more likely to be candidates for resection

May 25, 2017 By Sarah Faulkner

Treatment with Sirtex Medical‘s (ASX:SRX) Y-90 resin microspheres and chemotherapy was associated with a statistically significant gain in potentially curative liver resectability, according to data published earlier this week. The results come 1 week after the Australian company reported that its radioactive microspheres had no effect in improving survival in patients with colorectal cancer in its […]

Filed Under: Clinical Trials, Drug-Device Combinations, Oncology, Pharmaceutical, Surgical, Wall Street Beat Tagged With: Sirtex Medical

Sirtex SIR-Spheres fail to improve survival in colorectal trial

May 18, 2017 By Fink Densford

Sirtex Medical (ASX:SRX) saw shares tumble more than 25% today after a trial of its radioactive microspheres reported no effect in improving survival in patients with colorectal cancer. Results from the Foxfire analysis study indicated that the use of SIR-Spheres Y-90 microspheres in combination with chemotherapy did not improve overall survival in patients with unresectable colorectal […]

Filed Under: Clinical Trials, Drug-Device Combinations, Oncology Tagged With: Sirtex Medical

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