Abbott has announced plans to separate its Nutrition business into an independent, publicly traded company by the end of next year. The Nutrition company will have approximately $8.5 billion in annual sales, with around 16,000 employees and 14 manufacturing sites around the globe.
Merck has entered into a definitive agreement to acquire biotech company Silence Therapeutics, focused on siRNA-therapies in areas of high unmet need. The purchase price represents an enterprise value of $1.1 billion and an equity value of approximately $1.3 billion.
The development will introduce a new generation of insulin production to one of the company’s largest integrated research and manufacturing sites and strengthen long-term supply for millions of people living with diabetes worldwide.
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.
