(Reuters) – A top executive at Baxalta Inc , which was approached with a takeover offer from Shire PLC, said on Wednesday the company did not plan to rush into doing a defensive deal to try to fend off its unwanted suitor.
Chief Financial Officer Bob Hombach said during a presentation webcast from the Morgan Stanley Global Healthcare conference that the company was still interested in doing deals that made sense, but that it would not change its strategy “just because somebody knocked on our door on day 1.”
Shire approached Baxalta shortly after it was spun off from Baxter International into a standalone public company. Baxalta has so far rejected the offer.
Baxalta shares closed up 1 cent at $37.07 on the New York Stock Exchange. (Reporting by Caroline Humer; Editing by Meredith Mazzilli)
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.”