ConvaTec, the medical products and technologies company that entered the FTSE 100 after becoming the biggest London flotation of 2016, has agreed to acquire Woodbury Holdings, a US distributor of incontinence and catheter-related supplies for $120.5m.
Woodbury, which provides items including incontinence and catheter products, has national distribution across the US, delivering directly to customers at home, reports Sarah Neville, Global Pharmaceuticals Editor.
ConvaTec said the acquisition from MTS Health Investors would create a new home distribution business unit for catheter and incontinence related products. It will take in US distribution companies 180 Medical, Symbius Medical, South Shore Medical Supply, Wilmington Medical Supply and Woodbury Health Products.
Paul Moraviec, ConvaTec chief executive, said: “The addition of Woodbury contributes to our growth strategy for the Continence & Critical Care Franchise and builds on the success of our 180 Medical business, which we acquired in 2012.” 180 Medical was the largest retailer of intermittent catheters in the US, he said.
The addition of Woodbury would provide “further breadth and reach to our new home distribution group and further consolidate our leading position in this market, expand customer relationships and provide greater choice direct to US consumers,” he added. Woodbury’s senior management team will remain with the company.
Source: Financial Times
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.”