J&J has been hunting for companies to buy. At the start of the year, the company’s new CEO Joaquin Duato said J&J would take a more “aggressive” approach to dealmaking, although he and other executives had indicated a preference toward small- and mid-sized acquisitions of medical technology and biotechnology companies.
Analysts had previously speculated that J&J could acquire a cardiology firm such as Boston Scientific.
In a statement, Duato said in the acquisition of Abiomed is “an important step in the execution of our strategic priorities” as the company focuses on its pharma and medtech businesses.
“We have committed to enhancing our position in medtech by entering high-growth segments,” he added. “The addition of Abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders.” READ MORE
by Elise Reuter
Source: biopharmadive.com
The restructuring forms part of GSK’s “accelerating growth” strategy that was first announced in July. At the time, GSK CEO Luke Miels explained the pharma was seeking 1.9 billion pounds ($2.5 billion) in annual cost-savings by 2029 to fund the program.
Gilead Sciences and Vir Biotechnology have deepened their ties by inking a second deal, which will see the pair join forces to discover and engineer novel T-cell engager (TCE) therapies for solid tumours. Through this collaboration and licensing agreement, Gilead will hand over $90m upfront and up to $45m in potential near-term preclinical milestones.
AstraZeneca has inked a billion-dollar artificial intelligence (AI)-powered drug discovery partnership and licensing deal with insitro, to identify novel targets and therapies for a range of cardiometabolic diseases.
