Aug. 4, 2015, 7:46 AM
- Shire plc (NASDAQ:SHPG) discloses that it made a proposal to Baxter (NYSE:BAX) spin-off Baxalta (NYSE:BXLT) to combine the firms in an all-stock transaction valued at $30B or $45.23 per share. Baxalta had previously declined to enter into discussions with Shire about a potential merger.
- Update: BXLT up 19% premarket on robust volume. SHPG down 4% on high volume.
May 12, 2015, 11:31 AM
- With the aim of accelerating its commercialization efforts in cancer therapeutics, Baxter International (BAX -0.5%) acquires the Oncaspar (pegaspargase) product portfolio from Rome, Italy-based Sigma-Tau Finanziaria S.p.A. for $900M before expenses. The transaction should close in Q3.
- Oncaspar is a first-line biologic used as a component of a multi-agent chemotherapy regimen to treat acute lymphoblastic leukemia (ALL). It is an asparagine-specific enzyme that kills certain leukemic cells by depleting plasma asparagine. Some leukemic cells need exogenous asparagine to survive because they lack the essential enzyme to synthesize it themselves. It is approved for sale in the U.S., Germany, Poland and certain other countries and generates ~$100M in sales.
- The deal includes a lyophilized version on the product that is still in development. The current Oncaspar formulation is a solution with a short shelf life.
- Also included is the new chemical entity for the treatment of ALL, calaspargase pegol, a biologic in development that has an increased shelf life that should enable less frequent dosing.
- Baxter intends to explore new indications for Oncaspar, including acute myeloid leukemia.
Mar. 4, 2015, 9:27 AM
- Baxter International (NYSE:BAX) acquires Martinsried, Germany-based SuppreMol for €200M ($225M). The privately-held firm develops protein therapeutics for autoimmune, inflammatory and allergic diseases.
- Its lead product candidate is SM101, currently in Phase 2 development for the treatment of primary immune thrombocytopenia and systemic lupus erythematosus. SM101 is a modulator of Fc gamma receptor IIB, a key protein in the signalling pathway that could have broad applications in autoimmune disorders.
Dec. 15, 2014, 10:48 AM
- Baxter International (BAX) sells its Vero cell technology, related assets and its production facility in the Czech Republic to Alachua, FL-based Nanotherapeutics for an undisclosed sum. The transaction includes the assets related to vaccines for H5N1, H1N1, seasonal influenza as well as the investigational programs for Ross River virus, Chikungunya disease and West Nile virus.
- The Vero cell platform is an advanced cell-based technology for vaccines production.
Dec. 1, 2014, 8:10 AM
- Pfizer (NYSE:PFE) finalizes its buy of Baxter International's (NYSE:BAX) NeisVac-C (meningitis - MenC) and FSME-IMMUN/TicoVac (tick-borne encephalitis) vaccines and a portion of Baxter's facility in Orth, Austria where the products are made. The $635M deal was announced in late July.
- Previously: Pfizer buys Baxter's vaccine business
Jul. 30, 2014, 9:35 AM
- Pfizer (PFE -1.7%) enters into a definitive agreement to acquire Baxter International's (BAX +0.7%) vaccine business for $635M. The transaction includes a portion of Baxter's manufacturing facility in Orth, Austria.
- The deal is expected to close by the end of 2014. Pfizer says that it will not impact its guidance for the year.
Jul. 9, 2014, 9:16 AM
- Baxter International (BAX) acquires AesRx LLC, a private biopharmaceutical company focused on orphan drug targets. Its lead product candidate, currently in Phase 2, is Aes-103 (5-hydroxymethylfurfural) a small molecule compound being investigated as a prophylactic treatment for sickle cell disease. Financial terms are not disclosed.
Sep. 6, 2013, 12:29 PM
- Baxter (BAX +0.7%) has completed its acquisition of Gambro, a privately held global medical technology company based in Lund, Sweden.
- The total price tag on the deal was $3.9B, which was included in its Q3 and FY13 guidance.
- The acquisition gives BAX the opportunity to build upon its core portfolio and pipeline of investigational home hemodialysis and automated PD systems by adding Gambros dialyzers, devices and dialysis solutions, next-generation monitors, and acute therapies to treat patients with serious kidney, liver and lung conditions.
Aug. 13, 2013, 8:00 AM
- China's Ministry of Commerce has authorized Baxter's (BAX) $4B acquisition of Sweden's Gambro on the condition that Baxter divests its global continuous renal replacement therapy business, which accounts for 2% of its renal product sales.
- The EU also demanded the sale of the unit when it approved the Gambro deal.
- As part of the authorization in China, Baxter must end an outsourcing production deal in the country with Japan's Nipro by March 31, 2016.
Jul. 11, 2013, 7:24 AM
EU antitrust regulators are reportedly set to authorize Baxter's (BAX) $4B acquisition of Sweden's Gambro after the U.S. firm offered to sell its global continuous renal replacement therapy operations, which account for approximately 2% of its renal product sales. Baxter has made the same offer to authorities in Australia and New Zealand. Acquisition of Gambro would turn Baxter into the second-largest manufacturer in the dialysis market. The EU is due to decide on the deal on July 22.| Jul. 11, 2013, 7:24 AM
Dec. 4, 2012, 9:07 AM
More on Baxter (BAX) / Gambro deal: the acquisition, Baxter's largest ever, combines the second and third largest manufacturers of dialysis equipment, so it could arouse antitrust concerns. Baxter expects synergies of $300M a year by 2017, but says the deal will cut adjusted EPS by $0.10-$0.15 next year and be neutral or add to earnings in 2014, and then add to profit after that. (Webcast) (PR)| Dec. 4, 2012, 9:07 AM
Dec. 4, 2012, 7:13 AM
As tipped about 10 days ago, Baxter International (BAX) inks an agreement to buy Sweden's Gambro for $4B. The acquisition should give Baxter a more complete line of dialysis products. Baxter shares leaped around 5% on the day of the initial leak of the talks, but have since given up those gains. (PR)| Dec. 4, 2012, 7:13 AM
Nov. 23, 2012, 10:35 AM
Dec. 13, 2011, 8:31 AM
Diversified medical products giant Baxter (BAX) announces it's acquiring surgical device maker Synovis (SYNO) for $28/share, or $260M after adjusting for net cash. The price represents a 52% premium to Synovis' Monday close. Baxter expects the deal, which is expected to close in Q1, will be dilutive to its 2012 EPS by $0.04, but will be neutral to 2013 EPS, and accretive afterwards.| Dec. 13, 2011, 8:31 AM
Apr. 18, 2011, 8:42 AM
Baxter (BAX) will acquire privately-held Prism Pharma for $338M, $168M of that based on milestones. Prism's NEXTERONE portfolio includes the only ready-to-use premixed IV bag formulations, as well as vials and a pre-filled syringe. (PR)| Apr. 18, 2011, 8:42 AM