Abbott has made its move on a trio of med tech startups focused on cardiovascular catheterization. It is buying electrophysiology startup Topera for $250 million plus undisclosed milestones and has secured the right to purchase Advanced Cardiac Therapeutics, which has a novel ablation catheter. Plus, Abbott Ventures participated in a venture round for VytronUS.
Mousera, a healthcare startup focused on bringing current systems research up to speed with modern technology, raised $8.8 million from 9 investors.
Gilead Sciences is charting eye-popping sales for blockbuster Sovaldi and chalking up a key regulatory approval for its new hep C combo pill, Harvoni. But the company's third-quarter earnings fell short of analysts' estimates in light of a hefty Obamacare fee and lower-than-expected revenue for its top-selling hep C drug.
Sanofi's animal health division, Merial, provided a rare bright spot in the company's third-quarter earnings report--but it wasn't quite bright enough to save CEO Chris Viehbacher's job. On Wednesday, just after announcing so-so earnings that triggered a massive selloff of Sanofi's stock, the company's board said it has "decided unanimously to remove" Viehbacher.
Valeant's hostile bid for Allergan may soon be on the rise. But after posting strong Q3 results earlier this week, some analysts say Allergan's value is, too.
Novartis' third-quarter profit may have gotten a large boost from the sale of its Idenix stake to Merck this summer, with cost cuts kicking in, too. But when it comes to top-line results that topped analysts' forecasts, the company has its own hot sellers to thank.
Alere continued down the path of deleveraging and refocusing on its core competency in diagnostics with the sale of its Alere Health unit to Optum, a part of the insurance company UnitedHealth Group for $600 million.
Pfizer is popping the confetti on earnings that beat analysts' expectations, bolstered by sales of cancer drugs and growth in emerging markets. But as for that much-talked about deal with AstraZeneca? No word for now.
For another clue to the unrest on Sanofi's board, take a look at the third-quarter earnings report. There's not much red ink on the page, that's true: Sales are up 4%. Earnings up 8%. CEO Chris Viehbacher's growth platforms surged by 10%. The trouble lies in Viehbacher's canned quote.
Two ambitious med tech IPOs are slated to go out in the coming week or so. Both are on their IPO road shows now. Each has an impressive array of investors, high targeted IPO amounts and substantial potential company valuations.