Sector News

Actavis buys Durata in $675 million deal

October 7, 2014
Life sciences

Actavis, which is at the centre of much merger talk, is to acquire Durata Therapeutics and its antibiotic Dalvance in a deal worth at least $675 millionn.

Actavis has offered $23 per share in cash, plus a contingent value rights element of up to $5 per share depending on how well Dalvance (dalbavancin) does. The intravenous antibiotic was approved by the US Food and Drug Administration in May for acute bacterial skin and skin structure infections and it is also being developed for additional indications, such as hospitalised community-acquired pneumonia and paediatric osteomyelitis.    

Chief executive Brent Saunders said the acquisition of Durata “is a strong strategic fit that strengthens Actavis’ emerging infectious disease franchise and aligns with our stated goal to make smart, targeted investments”. He added that Dalvance complements the firm’s antibiotic Teflaro (ceftaroline fosamil) and a ceftazidine-avibactam combination, currently in late-stage development, which are intended for use in the in-patient setting.

Actavis has been reportedly in talks to buy Salix Pharmaceuticals and was rumoured to have had a $50 billion bid by Allergan turned down last month.

By Kevin Grogan

Source: Pharma Times

comments closed

Related News

October 23, 2021

Novo Nordisk teams with CVS Health on obesity support program ahead of Wegovy DTC launch

Life sciences

As Novo Nordisk gears up to disrupt the obesity market with its newly approved weight-loss drug Wegovy, it is teaming with retail pharmacy giant CVS Health on a new education and nutrition coaching program for people taking anti-obesity meds.

October 23, 2021

GSK-backed Atreca inks license with Gates Medical Research Institute for malaria monoclonal antibody

Life sciences

The terms of the deal were undisclosed, but Atreca received $6 million from the Gates Foundation in 2012 to discover potential treatments for malaria, tuberculosis and HIV. The foundation has also given grant money to other biopharmas exploring malaria treatments, including Exscientia, which secured $4.2 million last year for such work.

October 23, 2021

A record number of biotechs are going public. Here’s how they’re performing.

Life sciences

At the start of the last decade, the IPO markets weren’t receptive to biotech companies. But by 2013, public investment was pouring into the industry, drawn by scientific advances and boosted by the newfound interest of a broader range of investors. Ever since, biotechs and their backers have ridden a multi-year boom. Keep track of them as they happen with this database.

Send this to a friend