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Pfizer Inc.NYSE
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  • Thu, Oct. 6, 8:40 AM
    • ICU Medical (NASDAQ:ICUI) inks an agreement with Pfizer (NYSE:PFE) to purchase its  global infusion therapy business for $1B in cash and stock. Pfizer acquired it when it bought Hospira in September 2015.
    • The business, Hospira Infusion Systems, includes IV pumps, solutions and devices. The transaction will increase ICUI's annual revenues to ~$1.45B and create a leading pure-play infusion therapy company.
    • Under the terms of the agreement, Pfizer will receive ~$400M in newly issued ICUI stock and $600M in cash. The deal should close in Q1. Afterward, Pfizer will own 16.6% of ICU.
    • For Q3, ICUI expects $1.20 in non-GAAP EPS on revenues of $96M. For 2016, it sees $4.60 in non-GAAP EPS on revenues of greater than $370M, the high end of the range of its previously reported guidance.
    • ICUI shares are up 7% premarket, but only on 100 shares.
    | Thu, Oct. 6, 8:40 AM | 10 Comments
  • Wed, Aug. 24, 3:10 AM
    • AstraZeneca (NYSE:AZN) has agreed to sell its small-molecule antibiotics operations to Pfizer (NYSE:PFE) in a transaction that could eventually be worth $1.575B.
    • The deal will allow AstraZeneca to focus on three main therapy areas and realize value "from the strong portfolio of established and late-stage small molecule antibiotics."
    • Pfizer will pay $550M upfront plus $175M in January 2019 and as much as $850M in milestones and sales-related payments.
    • The U.S. company will receive approved antibiotics Merrem, Zinforo and Zavicefta, and clinical-development treatments ATM-AVI and CXL. (PR)
    | Wed, Aug. 24, 3:10 AM | 18 Comments
  • Mon, Aug. 22, 7:02 AM
    • Medivation (NASDAQ:MDVN) is up 19% premarket on the news that Pfizer (NYSE:PFE) will acquire it for $81.50 a share (~14B). The deal should close by Q4. Pfizer will host a conference call this morning at 9:00 am ET to discuss the transaction.
    | Mon, Aug. 22, 7:02 AM | 33 Comments
  • Sun, Aug. 21, 6:39 PM
    • Pfizer (NYSE:PFE) is close to a $14B deal to acquire cancer drugmaker Medivation (NASDAQ:MDVN), FT says.
    • The price is about 1/3 higher than Medivation's closing price on Friday.
    • Pfizer would be beating out rivals including Celgene (NASDAQ:CELG), Gilead (NASDAQ:GILD), Sanofi (NYSE:SNY), Merck (NYSE:MRK) and AstraZeneca (NYSE:AZN), who have been pursuing Medivation for months.
    • Medivation has already rejected two "inadequate" bids from Sanofi, the last for $11B ($58/share).
    • Shares of Medivation have more than doubled in the last six months.
    • Medivation makes the leading prostate cancer drug, Xtandi, which is expected to generate $5.7B in annual revenue by 2020.It is also developing an experimental drug called Talazoparib, which is designed to stop tumor cells from multiplying by damaging their DNA.
    • Update: It's official. Pfizer will acquire Medivation for $81.50 a share (~$14B). The deal will be immediately accretive to Pfizer's non-GAAP EPS, adding ~$0.05 in the first full year after the transaction closes, expected by Q4. Its 2016 guidance will be unaffected. The deal will be financed with existing cash. Pfizer will host a conference call this morning at 9:00 am ET to discuss the acquisition.
    | Sun, Aug. 21, 6:39 PM | 92 Comments
  • Wed, Aug. 17, 1:30 PM
    • In-play Medivation (MDVN +2.1%) perks up on modestly higher volume on the news that Merck (MRK -0.3%) has joined Sanofi (SNY -0.5%), Celgene (CELG +0.3%), Gilead Sciences (GILD +1.7%), Pfizer (PFE +0.6%) and AstraZeneca (AZN -0.2%) as potential acquirers.
    • Medivation has already rejected two "inadequate" bids from Sanofi, the last for $11B ($58/share).
    | Wed, Aug. 17, 1:30 PM | 36 Comments
  • Fri, Jul. 29, 10:03 AM
    • Medivation (MDVN +1.3%) has asked for indications of interest by mid-August, CNBC's David Faber says, with a number of pursuers in the mix.
    • Earlier this month, Medivation entered confidentiality agreements with potential suitors, including a hostile bid from Sanofi (SNY -1.5%).
    • Sanofi continues to hold interest in an acquisition, along with Pfizer (PFE +0.2%), Gilead Sciences (GILD -1.1%) and Celgene (CELG -0.4%).
    | Fri, Jul. 29, 10:03 AM | 18 Comments
  • Tue, Jul. 19, 10:50 AM
    • Prompted by moderating growth from traditional drug sales, large cap drug/biotech firms have their sights set on developers of cancer therapies, in particular immunotherapies, to boost both their top and bottom lines. Roche (OTCQX:RHHBY -1.5%), Amgen (AMGN +0.1%), Sanofi (SNY -1.3%) and Gilead Sciences (GILD -1.2%) are all actively on the prowl for acquisitions.
    • Medivation (MDVN +0.1%), with its prostate cancer drug Xtandi (enzalutamide), is currently in play. Sanofi has been the most aggressive with two unsuccessful bids, but Pfizer (PFE) and Celgene (CELG -0.6%) are supposedly interested.
    • Analysts say Incyte (INCY -0.4%), with polycythemia vera and myelofibrosis drug Jakafi (ruxolitinib), and Seattle Genetics (SGEN -0.8%), with lymphoma drug Adcetris (brentuximab vedotin), are the most attractive takeover targets.
    • Recent transactions include AbbVie's (ABBV -0.3%) buyout of Stemcentryx, Jazz Pharmaceuticals' (JAZZ -0.8%) takeout of Celator Pharmaceuticals and Bristol-Myers Squibb's (BMY -0.2%) acquisition of Cormorant Pharmaceuticals.
    | Tue, Jul. 19, 10:50 AM | 8 Comments
  • Tue, Jul. 5, 5:22 PM
    • Medivation (NASDAQ:MDVN) says it has entered into confidentiality agreements Sanofi (NYSE:SNY) and several parties that have expressed interest in exploring a potential transaction, and rejects a new takeover offer from SNY that valued it at $58/share, plus a contingent value right valued at a maximum $3/share.
    • As part of negotiations, SNY agrees to drop efforts to have MDVN shareholders replace the board, after it had sought to oust the board after previous takeover offers had been rejected.
    • SNY has been in pursuit of MDVN in an attempt to strengthen its new products portfolio and build a competitive position.
    • Pfizer (NYSE:PFE) also has been interested in acquiring MDVN, according to reports, but today's release did not list other potential suitors beyond SNY.
    | Tue, Jul. 5, 5:22 PM | 11 Comments
  • Wed, May 25, 9:00 AM
    • According to Bloomberg, Celgene (NASDAQ:CELG) is considering a bid for Medivation (NASDAQ:MDVN), currently trying to hold off Sanofi (NYSE:SNY). Other suitors supposedly in the mix are Pfizer (NYSE:PFE), AstraZeneca (NYSE:AZN) and Amgen (NASDAQ:AMGN).
    • Sanofi is trying to replace Medivation's board after it rejected its per-share offer of $52.50.
    • Previously: Amgen another possible Medivation suitor (May 5)
    | Wed, May 25, 9:00 AM | 13 Comments
  • Mon, May 16, 7:14 AM
    | Mon, May 16, 7:14 AM | 18 Comments
  • Thu, May 5, 11:38 AM
    • Move over Sanofi (SNY -3.3%), Pfizer (PFE +0.4%) and AstraZeneca (AZN -0.8%). Sources say Amgen (AMGN +0.1%) is considering a bid for Medivation (MDVN +0.2%). One thing appears certain: Sanofi needs to sharpen its pencil if it intends to close the deal. Its bid of $52.50 appears woefully short.
    | Thu, May 5, 11:38 AM | 11 Comments
  • Thu, May 5, 9:14 AM
    • In a letter to Medivation's (NASDAQ:MDVN) board, Sanofi (NYSE:SNY) CEO Olivier Brandicourt reiterates his firm's strong desire to negotiate the terms of an acquisition, saying its $9.3B offer ($52.50 per share) represents a tidy 50% premium over what shares were trading three months before.
    • He also says Sanofi has had extensive discussions with Medivation's top shareholders and they back the deal. Going a step further, he says Sanofi is prepared to go directly to shareholders if management does not proceed.
    • A competing bid appears likely [Pfizer (NYSE:PFE), AstraZeneca (NYSE:AZN)] so whatever Medivation decides to do, Sanofi will probably have to up its offer.
    • MDVN is up a fraction premarket while SNY is down 3%.
    • Update: Medivation reiterates that Sanofi's bid is "substantially inadequate."
    | Thu, May 5, 9:14 AM | 21 Comments
  • Tue, May 3, 6:34 PM
    • Medivation (NASDAQ:MDVN) +3.9% AH following a Reuters report that Pfizer (NYSE:PFE) has approached the company to express interest in an acquisition, raising the possibility of a bid rivaling Sanofi's (NYSE:SNY) $9.3B offer by Sanofi.
    • MDVN has not yet decided whether it should engage with PFE in negotiations and is in discussions with its financial and legal advisers, according to the report.
    • MDVN last week rejected SNY's $52.50/share takeover proposal, and PFE, Novartis (NYSE:NVS) and AstraZeneca (NYSE:AZN) have been speculated as potential suitors.
    | Tue, May 3, 6:34 PM | 5 Comments
  • Fri, Apr. 29, 3:09 PM
    • Also mentioned alongside AZN and PFE as weighing bids for Medivation (MDVN +2.3%) is Novartis (NYSE:NVS), according to the report.
    • Earlier today, Medivation rejected Sanofi's (SNY -4.6%) $9.3B, or $52.50 per share offer, with one of Bloomberg's sources saying the company is looking for at least $65 per share. Sanofi has the capacity to go higher, say sources, but is naturally reluctant to overpay.
    | Fri, Apr. 29, 3:09 PM | 9 Comments
  • Wed, Apr. 6, 7:26 AM
    • Although disheartened that its merger with Pfizer (NYSE:PFE) is dead, Allergan (NYSE:AGN) is bullish on its standalone profile. CEO Brent Saunders says, "While we are disappointed that the Pfizer transaction will no longer mover forward, Allergan is poised to deliver strong, sustainable growth built of a set of powerful attributes. Our pipeline is one of the strongest in the industry, loaded with 70 mid-to-late-stage programs including 14 expected approvals and 16 regulatory submissions in 2016 alone."
    • Based on a preliminary review of the proposed regulations from the U.S. Treasury Department, the company believes they will not have a material impact on its standalone tax rate. Q1 earnings will be reported no later than May 10. During the conference call, management will update investors on its plans to simplify the company's operations after it divests its generics business to (NYSE:TEVA).
    • Allergan will host a brief conference call this morning at 10:00 am ET to discuss its standalone prospects.
    • Pfizer says it will make a decision on splitting the company's innovative and established businesses by the end of the year. It will report Q1 results on May 3. It has agreed to reimburse Allergan $150M for merger-related expenses.
    • PFE is up 1% and AGN is down 1% premarket.
    | Wed, Apr. 6, 7:26 AM | 21 Comments
  • Tue, Apr. 5, 1:46 PM
    | Tue, Apr. 5, 1:46 PM | 35 Comments