U.K.-based CRO Chiltern has put itself up for sale as it continues the bullish M&A run for contract research groups that has seen a host of deals, JVs and mergers over the last 2 years.
This is according to Reuters, citing anonymous “people familiar with the matter,” who say that the company has hired investment bank Jefferies to orchestrate a sale in a deal that could value it at around $1.3 billion.
According to the newswire, “The sale process is in the early stages and will attract interest from private equity firms.” The company has not commented on the report.
Midsize CRO Chiltern has been beefing itself up over the years and back in 2015 bought up Theorem Clinical Research in a move to strengthen its global presence. This comes amid a boom in CRO and biopharma services deals over the past two years, with the biggest coming last October, when the world’s largest CRO and one of the biggest healthcare data and consulting firms combined to become one major $19 billion, 50,000-strong company, now known as QuintilesIMS.
And back in February of this year, acquisitive medical testing company LabCorp was also said to be prepared to spend $8 billion on one of the largest CROs in the world, PPD, hot on the heels of it buying up New Jersey-headquartered Covance in 2015 in a deal worth just over $6 billion. This rumor again came from Reuters.
And over the past 6 months, in an unprecedented move, Japanese pharma Takeda has forged a new joint venture with PRA Health to help run much of its R&D amid a major rejigging of its research ops.
By Ben Adams
Source: Fierce Biotech
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.
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.
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.