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

February 4, 2023

MedTrace receives U.S. patent for diagnosing the human heart

Life sciences

The U.S. Patent and Trademark Office issued a patent to MedTrace for their method of diagnosing the human heart via 15O-water PET. The patented method is the foundation of the company’s software aQuant, currently under development. Hendrik “Hans” Harms, PhD and Senior Scientist at MedTrace, and Jens Soerensen, Professor and Clinical Advisor to MedTrace, are the originators of the method.

February 4, 2023

Roche taps insider Teresa Graham for top pharma job as setbacks prompt M&A questions

Life sciences

Teresa Graham, currently head of global product strategy for Roche pharma, will become the division’s new CEO next month, Roche said Thursday. Simultaneously, Roche is elevating Levi Garraway, chief medical officer, to the executive committee.

February 4, 2023

J&J’s pharma group quietly works through global overhaul, with layoffs expected to reach multiple countries

Life sciences

Fierce Pharma has obtained internal documents and video of a town hall meeting conducted this week describing what J&J called a “comprehensive review” of its portfolio. Moving forward, J&J plans to operate its vaccines and infectious diseases outfits as one group, the executives explained.

How can we help you?

We're easy to reach