J&J has been hunting for companies to buy. At the start of the year, the company’s new CEO Joaquin Duato said J&J would take a more “aggressive” approach to dealmaking, although he and other executives had indicated a preference toward small- and mid-sized acquisitions of medical technology and biotechnology companies.
Analysts had previously speculated that J&J could acquire a cardiology firm such as Boston Scientific.
In a statement, Duato said in the acquisition of Abiomed is “an important step in the execution of our strategic priorities” as the company focuses on its pharma and medtech businesses.
“We have committed to enhancing our position in medtech by entering high-growth segments,” he added. “The addition of Abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders.” READ MORE
by Elise Reuter
Source: biopharmadive.com
A phase 2 celiac disease trial of argenx’s FB102 has hit its primary endpoint, delivering a boost to a drug candidate that the biotech acquired in its $2.2 billion takeover of Forte Biosciences. Amsterdam-based argenx agreed to buy Forte in July to acquire FB102, an anti-CD122 antibody that hit the mark in a phase 1b vitiligo trial weeks before the deal.
Bayer announced plans to invest $2.2 billion in a new pharmaceutical manufacturing site in New Albany, Ohio, US. Building on more than seven billion dollars in US pharma R&D and manufacturing spend over the past five years, the project is a central element of Bayer’s long-term growth strategy.
Sterling Pharma Solutions has announced completion of an additional, large-scale GMP manufacturing suite at its dedicated bioconjugation facility in the UK, which will double capacity, as well as increasing the scale of manufacturing to 500L.
