It’s been just over two years since INC Research and inVentiv came together in a $7.4 billion merger and rebranded as Syneos Health. Now, it’s looking for a sale.
That’s according to “people familiar with the matter” speaking anonymously to Reuters this week, who add that the North Carolina CRO is working with investment bank Centerview Partners “on soliciting acquisition offers from other companies and private equity firms.”
The CRO had been trading down—like almost every public company due to the coronavirus volatility—but was up by $10 a share on the Reuters report March 9, although it was back in the red in trading Tuesday. Its market cap is around $6.4 billion.
The CRO was not commenting on the story.
By Ben Adams
Source: Fierce Biotech
A monkeypox outbreak is emerging in the U.S. and Europe, and at least one country is amping up countermeasure preparedness. Bavarian Nordic has secured a contract with an unnamed European country to supply its smallpox vaccine, called Imvanex in Europe, in response to the emergence of monkeypox cases, the Danish company said Thursday.
Moderna’s recent chief financial officer debacle—in which Jorge Gomez departed on his second day on the job—raised questions about the company’s hiring process given its rush to global biopharma prominence. The most obvious one: How was it possible for Gomez to be hired when he was under investigation by his previous employer, Dentsply Sirona of Charlotte, N.C.
Merck & Co. is plucking a cancer project from the branch of Chinese-based Kelun Pharmaceutical for up to $1.4 billion, but details from the New Jersey-based Big Pharma have been hard to come by. The deal, first disclosed Monday on the Shenzhen stock exchange, has Merck handing over $47 million in upfront cash in exchange for ex-China rights to a “macromolecular tumor project.”