Mylan may be demanding more than $100 per share from suitor Teva if it wants to talk takeover. But for itself--and its executives--its expectations aren't nearly that high.
Since before Teva even made its now-rejected $40 billion offer to buy Mylan, its target's exec chairman, Robert Coury, has been pretty down on the idea, citing a potential culture clash between the two companies. While Teva CEO Erez Vigodman has said he thinks they'd get along just fine, the rival drugmakers do have a few big differences between them--including their approach to executive compensation.
On pace to reap $29 billion in revenue this year thanks to its surging hepatitis C franchise, Gilead Sciences has the cash to pull off a big deal or two, and management is eyeing a slew of late-stage opportunities.
Hold it right there, Mylan, Teva said in a Wednesday letter to that company's executive chairman. A couple days after receiving a scathing rejection to its $40 billion buyout bid, the Israeli drugmaker has a few things it wants to set straight.
WuXi PharmaTech's CEO has teamed up with a major investor in an attempt to take the CRO private, pitching a buyout that would give the Chinese company's shareholders a 16.2% premium.
With Mylan's second bid for Perrigo, it actually hit below the first bid the Irish drugmaker rejected, Perrigo contended. But now, Mylan is back with a third offer to set things straight.
Orphan meds have been like catnip for drugmakers for several years, driving many an M&A deal. Now, Swedish Orphan Biovitrum might be next in line, at a price of more than $3.5 billion.
On Friday, Mylan all but rejected Teva's takeover bid with its own sweetened bid for Ireland's Perrigo. But now, it's made the snub official, delivering a resounding "no" to its generics rival.
A few years after teaming up with Versant Ventures to get Stanford spinout Quanticel Pharmaceuticals off the ground, Celgene is buying the cancer-focused biotech for up to $485 million.
Sweden's Sobi, a close partner of Biogen, is in the crosshairs of a buyout bid. But the biotech isn't saying yet just who's doing the bidding.