Unilever to acquire Carver Korea for US$ 2.7 billion
Thermo Fisher Scientific acquired Patheon for US$ 7.2 billion
Centene Corporation will acquire Fidelis Care for US$ 3.75 billion
FOREIGN DIRECT INVESTMENTS & M&A REVIEW - october 2017
Teva to sell contraceptive brand PARAGARD in US$ 1.1 billion deal
Biotechnology I Medical devices I Pharmaceutical I Hospitals I r&d
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
Thermo Fisher Scientific Inc., the world leader in serving science, announced that it has completed its acquisition of Patheon N.V., a leading contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion.
"We're pleased to complete our acquisition of Patheon and look forward to the significant value this transaction will create for our customers and our shareholders," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "By adding Patheon's highly complementary CDMO capabilities to our leading clinical trials services and bioproduction technologies, we will be an even stronger partner for our pharmaceutical and biotech customers. We're delighted to welcome our Patheon colleagues to the Thermo Fisher team and excited about the new opportunities we have to help our customers accelerate innovation and enhance productivity by leveraging our combined strengths."
Patheon generated fiscal 2016 revenue of approximately $1.9 billion and will become part of Thermo Fisher's Laboratory Products and Services Segment. For the remainder of 2017, the transaction is expected to be approximately $0.09 accretive to adjusted earnings per share1, which includes $0.02 in the third quarter. Details of the 2017 impact will be provided during Thermo Fisher's third quarter earnings call in late October.
Thermo Fisher continues to expect to realize total synergies of approximately $120 millionby year three following the close, consisting of approximately $90 million of cost synergies and approximately $30 million of adjusted operating income benefit from revenue-related synergies.
Thermo Fisher Scientific Acquired Patheon for
Read full article on globalfdi.net
Centene Corporation, announced that it has signed a definitive agreement under which Fidelis Care will become Centene's health plan in New York State. Under the terms of the agreement, Centene will acquire substantially all of the assets of Fidelis Care for $3.75 billion, subject to certain adjustments.
The addition of Fidelis Care will expand Centene's national leadership in government sponsored healthcare with a leadership position in New York, the country's second largest managed care state by membership. With the addition of New York, Centene will have a leadership position in the country's four largest managed care states by membership – California, Florida, New York and Texas. Fidelis Care is a not-for-profit corporation that is a diversified leader in government programs, serving over 1.6 million members as of June 30, 2017, with total revenue of $4.8 billion for the six months ended June 30, 2017.
Fidelis Care is a leading health plan driven by a culture of excellence and discipline, offering quality, affordable health insurance coverage for children and adults of all ages and at all stages of life through Medicaid, Qualified Health Plans, Child Health Plus, Essential Plan, as well as Medicare Advantage, Dual Advantage and Managed Long Term Care. Fidelis Care has an efficient operating platform, a history of profitable operations and a strong balance sheet. It is a successfully diversified business spanning state-sponsored programs, senior programs and exchange products with a statewide network of approximately 70,000 providers.
"We believe our over 30 years of experience, our local approach to the provision of healthcare, and our expertise and capabilities in caring for underserved populations will support the next generation of leadership in government programs in New York State," said Michael F. Neidorff, Chairman, President and CEO of Centene. "Centene's and Fidelis Care's missions are fully aligned in terms of promoting health through high quality, accessible care and services for all and advocating for health policy that accords true dignity and respect for all people, especially the underserved. Through this transaction we can further enhance the well-being of Fidelis Care's members and continue to build linkages and systems for the coordination of care and services among healthcare, behavioral and social services while doing so at an appropriate level of cost. We look forward to partnering with the state of New York's healthcare professionals as we continue to deliver on our mission of transforming the health of the community, one person at a time."
Unilever announced that it has agreed to acquire Carver Korea, a leading skincare business in North Asia, for €2.27bn, from Bain Capital Private Equity and Goldman Sachs.
Founded in 1999, Carver has shown exponential growth over the last five years; delivering sales of €321m and EBITDA of €137m in 2016. Building on its origins as an aesthetics company supplying professional products to beauty salons, Carver has become the fastest-growing skincare business in South Korea, through sales of its brand, AHC. AHC’s portfolio is focused on two high-demand consumer spaces: age management, and hydration and nourishment. The range includes the hero product: ‘Eye Cream for Face’, along with essences, toners, moisturisers, masks, and sun protection.
Alan Jope, Unilever President Personal Care, says: “We are delighted to be acquiring Carver Korea. It is an impressive business that is completely aligned to our Personal Care strategy. It will significantly strengthen our position in North Asia, the largest skincare market in the world; and will complement our existing portfolio, enabling us to offer luxury skincare products at attainable price points. AHC has been strongly gaining popularity thanks to its efficacious, innovative and premium products; and it therefore offers great opportunities for growth.”
Teva Pharmaceutical Industries Ltd., announced it has entered into a definitive agreement under which CooperSurgical will acquire PARAGARD a product within its global Women’s Health business, in a $1.1 billion cash transaction. PARAGARD had revenues of approximately $168 million for the trailing twelve month period ending June 30, 2017. This transaction includes Teva’s manufacturing facility in Buffalo, NY, which produces PARAGARD® exclusively.
Teva continues to actively pursue additional divestiture opportunities, including the sale of the remaining assets of its global Women's Healthbusiness, as well as its Oncology and Pain businesses in Europe. Teva continues to expect to generate at least $2 billion in total proceeds from the sale of these businesses, as well as additional asset sales to be executed by year end 2017.
“CooperSurgical’s commitment to women's health, fertility and diagnostics, will help to assure that patients in the U.S. continue to benefit from access to PARAGARD®,” stated Dr. Yitzhak Peterburg, Interim CEO. “This is an important step towards completing the divestments we have promised our stakeholders. Teva will use the proceeds from the sale to repay term loan debt under its Senior Credit Facility.”
With the divestiture of PARAGARD®, and planned divestiture of other global Women’s Health products and the Oncology and Pain business in Europe, Teva is reinforcing its strategic focus on CNS and Respiratory as its core global therapeutic areas of focus within Global Specialty Medicines. In these areas Teva maintains a strong pipeline and portfolio globally, and will continue to invest in creating long term value..
Joslin Diabetes Center, the world's preeminent diabetes care and research center, announced it has signed an agreement with China Horae Capital Management Group Co., Ltd. to advise the Horae Nanjing Diabetes Center project currently in development in the city of Nanjing, China. Initial work for Joslin experts will focus on providing guidance on the scope of the new center and training key leadership. Following that, Joslin experts will help develop the Center's inpatient and outpatient care models, create the educational curriculum for patients and educate the center's caregivers.
"We are excited to partner with Joslin Diabetes Center to bring Joslin's world-renowned best practices in diabetes prevention, treatment and management to the people of Nanjing. This is just the beginning; we hope to eventually spread what we learn from the experts at Joslin to our other locations throughout China," said Yuet Chai, Chairman, China Horae Capital Management Group Co., Ltd.
Joslin Diabetes Center Agreement with China Horae Capital Management Group
HealthLink Acquired by Base Logistics
HealthLink Europe & International acquired by Base Logistics Group
Base Logistics Group, supported by Waterland Private Equity Investments, has announced the acquisition of HealthLink Europe & International. With offices in ‘s-Hertogenbosch (Netherlands), Raleigh (USA) and Memphis (USA), HealthLink is a logistics outsourcing partner for life science manufacturing companies. From its offices in The Netherlands and the United States, Healthlink offers support in the field of logistics, order-to-cash and customer service. The activities and strategy of the service provider from ‘s-Hertogenbosch fit well with those of Base Logistics, which strengthens its position in The Netherlands with the acquisition and realizes a strong position in the United States. Both organizations will continue to operate under their own names.
Base Logistics’ CEO Robin Voet about the acquisition: “HealthLink has been a partner for a long time, and the collaboration has grown ever since. HealthLink makes extensive use of our Transport and Warehouse Management System Klairy, which has become the basis of HealthLink’s strong service to its customers. HealthLink is a healthy and ambitious organization, so it fits well within the culture and future plans of Base Logistics.” The acquisition offers Base Logistics the opportunity to strengthen its position in the North American market. Voet explains: “In the field of Service Parts Logistics, we are already an important player in Europe, and we have built up a healthy customer base in America. Thanks to the acquisition of HealthLink, we are able to further develop our own SPL activities from HealthLink’s Memphis office.”
VWR, the leading global independent provider of product and service solutions to laboratory and production customers, celebrated the opening of its new kitting center in Skalice, Czech Republic. This new facility will support the growing business of Therapak, which VWR acquired in 2016, by expanding its existing footprint in Europe with a state of the art facility and comprehensive kitting services for regional and global customers.
"VWR's Czech Republic facility is strategically located to support customers in the EMEA region for all their clinical and commercial kitting needs," said Ulf Kepper, SVP, Services for VWR. "This location expands our VWRCATALYST offering to support the growing demand for quality services to the industries we support."
Therapak, a leading supplier of pre-packaged convenience kits and procedure packs for the clinical trial, pharmaceutical and clinical laboratory industries, has proven to be a valued addition to the VWRCATALYST Clinical and Biorepository Services.
VWR announces New Kitting Center in Czech Republic
Alcobra Ltd., and Arcturus Therapeutics, Inc., a privately held biotechnology company developing novel RNA medicines, announced the signing of a definitive agreement to merge the two companies in an all-stock transaction. The transaction will result in a combined company focused on developing novel RNA medicines in therapeutic areas including infectious disease, cystic fibrosis, nonalcoholic steatohepatitis (NASH) and rare liver diseases.
Arcturus has developed proprietary technology platforms incorporating Unlocked Nucleomonomer Agent (UNA) Oligomer chemistry and lipid-mediated nanoparticle (LUNAR™) nucleic acid delivery systems. The UNA Oligomer platform incorporates improvements to the chemical structure of RNA to generate pharmaceutical and therapeutic benefits. The LUNAR delivery system is optimized for high RNA encapsulation efficiency, which improves manufacturing and cost-of-goods and enables particle size control to potentially improve the targeting of clinically important cells and tissues, including liver hepatocytes, liver stellate cells, myocytes and lung cells.
Arcturus is applying these technologies to develop RNA medicines, including under collaborations with Ultragenyx Pharmaceutical, Inc., Takeda Pharmaceutical Inc. and the Cystic Fibrosis Foundation. In addition, over the next two years, Arcturus plans to advance at least one internal program into clinical testing.
“In contrast to many traditional small molecule and biologic therapeutics, RNA medicines have the potential to cure diseases by addressing the underlying genetic cause rather than treating the symptoms,” said Stuart Collinson, Ph.D., Executive Chairman of Arcturus. “Arcturus’s technology combines delivery and RNA chemistry to generate innovative medicines with the potential to transform the lives of patients with serious diseases.”
Alcobra Ltd. and Arcturus Therapeutics, agree to Merge
MilliporeSigma announced the opening of its first BioReliance End-to-End Biodevelopment Center in the Asia Pacific (APAC) region.
Located in Shanghai, China, the center will provide a full range of process development capabilities and services, including cell line development, upstream and downstream process development and non-GMP clinical production.
"Our new BioReliance End-to-End Biodevelopment Center will host small-scale drug manufacturers working on early-phase clinical trials," said Udit Batra, CEO, MilliporeSigma. "MilliporeSigma has 30 years of process development experience and a track record of delivering robust clinical production process and clinical material within nine to 12 months. We look forward to advancing scientific discovery and innovation in China and beyond.
The Shanghai center is designed to meet the specific needs of customers in the APAC region. Staffed by local process scientists and engineers, the center will provide an integrated suite of services for biopharmaceutical companies in China and across APAC to accelerate clinical drug development from molecule to commercial production. Customers will get full support, not only with process development or production, but also with regulatory, quality and training.
"MilliporeSigma is a leading solutions provider," said Dr. Chengbin Wu, founder and CEO, EpimAb Biotherapeutics, a privately held start-up company dedicated to generating novel bi-specific antibody therapeutics in oncology and immune-oncology based on its proprietary FIT-Ig (Fabs-In-Tandem) platform. "The opening of this center will provide biopharma and emerging biotech companies like us access to the latest technologies and experienced scientists, helping us in accelerating our drug development and providing more affordable medicine to patients."
MilliporeSigma opens China's first BioReliance End-to-End Biodevelopment Center in Shanghai
Nobilis Health Corp., American: announced the acquisition of DeRosa Medical, P.C.
DeRosa Medical is a primary care practice that specializes in health and wellness, medically supervised weight loss, and chronic health condition management. DeRosa Medical has 10,000 active patients, and serves these patients with its nine primary care providers, comprised of physicians and nurse practitioners. The practice has three locations in the Phoenix, Arizona metropolitan area: Scottsdale, Chandler, and Glendale. These locations complement Nobilis' existing surgical facilities in North Phoenix, Chandler and Scottsdale.
The acquisition of DeRosa Medical allows the Company to enhance its ability to serve patients across the continuum of care, from primary care needs to surgical procedures, utilizing its concierge care delivery model. The DeRosa Medical purchase price is $915,000 cash, which represents 3x adjusted EBITDA.
The DeRosa Medical acquisition represents the most recent addition to the Company's Concertis portfolio. "The DeRosa Acquisition brings the Arizona market into Concertis' clinically integrated network. Our CIN has already begun to contribute significantly to Nobilis' surgery patient flow in our Texas markets, and we look forward to achieving similar growth in Arizona," said Harry Fleming, Nobilis CEO. Concertis advances health care delivery through its CIN that is committed to improving patient care and reducing overall healthcare costs. Clinical integration coordinates care across a continuum of services including physicians, hospitals, and ancillary services. Concertis currently includes bundled payment surgical procedures provided in three states, primary care practice acquisitions, and the Company's 360Concierge care management IT solution. This portfolio of products coupled with the Company's facilities and ancillary services comprise the CIN. Controlling the entire patient experience from aligned primary care providers, to facilities, surgeries, and ancillary services improves patient outcomes while encouraging more efficient cost control for Nobilis, patients, and physicians.
Nobilis Health Announces the Acquisition of
Catalent, Inc., the leading global provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products, announced it has reached an agreement to acquire Bloomington, Indiana-based Cook Pharmica LLC, an integrated provider of drug substance and drug product manufacturing and related services. The purchase price is $950 million, with $750 million to be paid at closing and the balance to be paid in equal installments, without interest, on each of the next four anniversaries of the closing. The acquisition will strengthen Catalent’s position as a leader in the rapidly growing area of biologics development and analytical services, manufacturing, and finished product supply.
Cook Pharmica is a privately held, biologics-focused contract development and manufacturing organization with capabilities across biologics development, clinical and commercial cell culture manufacturing, formulation, finished-dose manufacturing, and packaging. Founded in 2004 as a division of the Cook Group, Cook Pharmica today operates a world-class, 875,000 square foot development and manufacturing facility in Bloomington. For the twelve months ended June 30, 2017, Cook Pharmica generated $179 million in revenue.
“The complementary biologics development, biomanufacturing, and fill-finish capabilities of Catalent and Cook Pharmica will provide biopharmaceutical firms with a single, integrated partner supporting a wide range of clinical and commercial needs,” said John Chiminski, Chair and CEO of Catalent. “We are very excited to join forces with the talented Cook Pharmica team in Bloomington, Indiana and plan to invest aggressively there, in our rapidly expanding Madison, Wisconsin facility, and in the rest of the Catalent Biologics network to build a true global leader in the biologics market, which will help us to improve the lives of patients around the world.”
Catalent to acquire Cook Pharmica For US$ 950 Million
The international technology group Körber seeks to further strengthen its Business Area Pharma Systems with the acquisition of system partner Systec & Services GmbH. The aim of the acquisition is to strengthen existing skill sets in the companies Seidenader and Werum IT Solutions in the areas of MES (manufacturing execution systems) and serialization, and to increase expertise in the consulting business.
With the planned takeover, Körber Medipak Systems GmbH, the holding company of Business Area Pharma Systems, is expanding the range of services it offers its customers in the pharmaceutical and biotechnology industries. As a system partner, Systec & Services GmbH specializes in consultation for the implementation of manufacturing execution systems and track and trace solutions. The company is headquartered in Karlsruhe (Germany) with an additional location in Pratteln near Basel (Switzerland).
With its more than 80 employees, Systec & Services GmbH advises clients in the pharmaceutical and biotechnology industries in selecting and implementing software. The company has decades of experience and comprehensive industry knowledge in the implementation of MES systems and solutions for tracing medical products. Medipak Systems company Seidenader Maschinenbau and Systec & Services have previously worked together very successfully in the area of track and trace.
"From our many years of working together as partners, we have great respect for Systec & Services and its expertise in integration. Together we will be even better positioned to offer integrated solutions from a single source, from project start to commissioning," emphasizes Clemens Berger, CEO of Körber Medipak Systems GmbH. "This planned acquisition underscores our commitment to optimally combining process know-how and engineering expertise for the benefit of our customers in the international pharmaceutical and biotechnology industry. This will allow us to offer added value to our customers and thus become their first stop for system solutions.
Körber plans takeover of Systec & Services GmbH
The Asian Development Bank’s (ADB) Board of Directors has approved an equity investment of up to $60 million to OrbiMed Asia Partners III, LP (OAP III) to further improve quality and coverage of healthcare companies in Asia and the Pacific. OAP III is managed by OrbiMed Advisors LLC (“OrbiMed”).
“High-quality and affordable healthcare is a crucial need for people in Asia and the Pacific, and there is tremendous potential for private investment across the region,” said Janette Hall, ADB’s Director of the Private Sector Investment Funds and Special Initiatives Division.
The $60 million equity investment by ADB to OAP III is a continuation of its strategy to increase private sector investments in healthcare. This investment follows ADB’s similar commitment in 2014 to the $325 million OrbiMed Asia Partners II, LP Fund.
OAP III, a closed-end private equity fund, will target investments in 15 to 20 healthcare companies operating in the People’s Republic of China and India. A smaller portion of the fund will target companies in Southeast Asia. Investment sizes will typically range from $10 million to $75 million per company. Healthcare companies targeted for investment will have a focus on improving healthcare affordability, access, or quality to address large unmet medical needs.
ADB invests US$ 60 million in OrbiMed Asia Healthcare Fund
Dealmed to Acquire Vantage Medical Supplies
Dealmed Medical Supplies, New York City's largest independent supplier of medical equipment, supplies, drugs, vaccines, and specialty medical products and services, announced that it has entered into an agreement to acquire Vantage Medical Supplies, a major distributor of medical and surgical equipment based in Holtsville, New York.
Vantage, which specializes in supplying new and emerging medical practices, will operate under the Dealmed name as of Sept. 15, 2017. This agreement will increase Dealmed's distribution base to nearly 5,000 regional customers, making it the largest independent medical supplier in the tri-state market. The financial terms of the transaction were not disclosed.
"Joining forces with Vantage means providing an even greater range of supplies to more medical practices throughout New York City and the tri-state region and throughout the U.S.," said Michael Einhorn, President of Dealmed. "We are confident in this new partnership, as it will strengthen our service to customers as well as to our growing network of manufacturers who value working with an independent company."
DIAsource ImmunoAssays acquired the assets of Viro-Immun Diagnostics GmbH
DIAsource ImmunoAssays SA, a Belgian-based company specialized in the development, sale and distribution of clinical diagnostic products, has acquired the assets of Viro-Immun Diagnostics GmbH, a German company specialized in the development and manufacture of laboratory diagnostic kits for the medical diagnosis of infectious and autoimmune diseases.
With this transaction, DIAsource acquires the Viro-Immun brand and all ELISA and IFA products, as well as its complete inventory and infrastructure.
The company and brand Viro-Immun has a strong reputation for its comprehensive portfolio of high-quality assays in infectious and autoimmune diseases, and especially the ToRCH panel with parameters such as toxoplasma, rubella and herpes.
That acquisition fits with DIAsource's strategy to act as a consolidator in its core business of manual kits and open automation. With this acquisition, DIAsource strengthens and extends its existing portfolio of first-class endocrinology and vitamin D products.
For Biovendor, an international company based in Brno, Czech Republic, this acquisition is not only an extension with a large panel of ELISA and RIA tests, antibodies and reagents for clinical diagnosis, but also a direct presence in Belgium, France and Spain, and a global network of more than 100 sales and distribution partners in more than 70 countries, representing yet another step towards internationalization.
EIB supports Amadéite Group, the world leader in Marine Biotechnology
The European Investment Bank (EIB) – the EU bank – and the Amadéite Group have signed a EUR 30m loan agreement in support of the Group’s research and development activities.
The signing ceremony was held at the Breizh Algae Tour 2017 event with the participation of EIB Vice-President Ambroise Fayolle and the Amadéite Group’s CEO Hervé Balusson.
“We are pleased to count Amadéite among the more than 90 French biotech companies supported by the EIB Group to date. This loan is of particular importance to our activity in Brittany in favour of the agricultural and marine biotechnology sectors”, Vice-President Fayolle stressed during the signing ceremony. “It will enable us to support the Group in the development of innovative products with a real impact on the health and animal and plant nutrition segments. Fostering innovation is at the heart of our action in support of business and regional competitiveness. It is also a major plank of the Juncker Plan, which is continuing to be ramped up in France, with 89 operations approved by the EIB Group so far.”
This new loan is designed to support the goals of the Amadéite Group’s 2017-2020 RDI programme “Without Antibiotics thanks to Algae”, for which the Group plans overall investment of more than EUR 70m. The loan will be backed an EU guarantee with the aim of facilitating access to finance for innovative firms and attracting other investors.
For Hervé Balusson, “The support of the European Investment Bank represents strong recognition of the technologies developed and mastered by our teams and a show of trust in our future developments. This partnership will enable us to step up our progress in the biotechnology field based on algae and marine proteins. Beyond supporting our project, the renown of the European Investment Bank will have a positive impact for our developments on the international stage, which is essential for a future-oriented midcap company.
Landauer, Inc. to be acquired by Fortive Corporation for $770 million
Landauer, Inc., a recognized leader in personal and environmental radiation measurement and monitoring and outsourced medical physics services, announced that it has entered into a definitive agreement to be acquired by Fortive Corporation (NYSE: FTV). Under the terms of the agreement, Fortive will make a $67.25 per share cash tender offer to acquire all outstanding Landauer shares for a total transaction value of approximately $770 million, including the assumption of debt and net of acquired cash. The agreement was unanimously approved by Landauer's Board of Directors.
Fortive is a diversified industrial growth company, based in Everett, Washington. Fortive is comprised of Professional Instrumentation and Industrial Technologies businesses that are recognized leaders in attractive markets with well-known brands in field instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution. The company was formed as a spin-off from the global science and technology company Danaher Corporation in 2016.
Following the completion of the transaction, Landauer will become part of Fortive's Field Solutions platform within Fortive's Professional Instrumentation segment.
Mike Kaminski, President and Chief Executive Officer of Landauer stated, "Today's announcement is an exciting step forward for Landauer, enabling us to combine our strengths as a leader in radiation measurement with Fortive's powerful and complementary Field Solutions platform and safety- as- a-service offerings.
As part of Fortive we will expand our global scale and capabilities, leading to broader solutions for our customers and increased opportunities for our employees."
Bio-Techne Corporation has acquired all of the stock of Trevigen Inc
Bio-Techne Corporation, announced that it has acquired all of the stock of Trevigen Inc. for cash. The transaction is financed through available cash on hand.
Charles R. Kummeth, President and Chief Executive Officer of Bio-Techne, commented, "We are pleased to have Trevigen as part of Bio-Techne Corporation. We are very familiar with the Trevigen product line, having sold it for many years. The Trevigen products complement our current product portfolio and make it easier to reach customers interested in products to better understand cell behavior and genotoxic events on cells. Having tools to study DNA damage and the apoptotic cell process is an important aspect of understanding drug action. As more drug testing is being conducted on physiologically more appropriate cell models, including 3D cell cultures, having membrane extracts products to support the robust growth of such cells, such as the Cultrex product line, makes these products an important addition to the Bio-Techne product line."
Trevigen Chief Executive Officer Dr. Michael Elliot added, "We believe there is a good strategic fit between the two companies given that both companies share the passion to empower cutting-edge science with quality reagents. We have had long standing business relationship with Bio-Techne and we are pleased to have found a home for our products. Having a broader array of products will serve both our customers more efficiently and provide additional market channels for our products in the global market."
Jubilant completes acquisition of Radiopharmacy business of Triad
Jubilant Life Sciences Ltd, an integrated global Pharmaceutical and Life Sciences Company, has announced that Jubilant Pharma Limited (JPL), a material wholly owned subsidiary of the Company, through one of its wholly owned subsidiaries, has successfully completed the acquisition of the US radiopharmacy business of Triad Isotopes, Inc.
Speaking on the occasion, Mr. Shyam S Bhartia, Chairman, and Mr. Hari S Bhartia, Co-Chairman and Managing Director, said:
“The acquisition adds significant scale to our niche Radiopharmaceutical business in the Specialty Pharma - Injectibles segment complementing our strategy of being a leading nuclear medicine player. Triad has an experienced management team, customer focus and strong relationships with GPOs in the United States, which allows us to directly serve customers through hospitals with high quality radiopharmaceutical products. We plan to expand the sales coverage to better and more optimally serve patients, physicians, imaging centers and hospitals, going forward.”
Arrow Pharmaceuticals, Australia, a subsidiary of Strides Pharma Global Pte Ltd, Singapore acquired the Australian operations of Amneal Pharmaceuticals. The acquisition would accelerate Arrow’s market reach and will help in attaining a leadership position in the Australian generics market.
Strategic Rationale •
Amneal Pharmaceuticals commenced operations in Australia in 2014 and established a comprehensive product offering including generic medicines and branded OTC productsArrow Pharmaceuticals has a low-touch pharmacy model with a stated strategic intent of achieving a leadership position in the Australian generics market through expansion of its first-line stores, new product introductions and better compliance
Amneal’s operations in Australia required higher operating spends to deliver their historical revenues. The business integration into the Arrow’s front-end model is expected to deliver a sustainable profitability through improved operating leverage. Complete integration is expected to happen over the next 12 months
Post integration of the business, the acquisition is expected to add annual revenues of ~AUD 25 Million, improve Arrow’s generics market share to ~22% adding ~200 new first-line stores expanding its first-line pharmacies to more than 1200 stores
In line with the strategic intent, Arrow has expanded its product portfolio over the last two years from ~150 molecules to ~170 molecules today. This acquisition further bolsters its product portfolio with the addition of 13 molecules to the Arrow range
The acquisition also provides for significant synergy opportunities with 100+ molecules being common with the Arrow portfolio. Post successful integration, all the molecules will be unified under the Arrow brand
Under the terms of the agreement, Arrow Pharmaceuticals will acquire 100% of the issued capital of Amneal Pharmaceutical Pty Limited, Australia. Arrow will incur an amount of AUD 17 Million towards consideration, working capital and other estimated acquisition and integration related costs
Chairman of Arrow Pharmaceuticals, Dennis Bastas said “the acquisition of Amneal’s Australian operations further expands our customer footprint. We have been fortunate to have experienced strong organic growth across our primary customer base within both our prescription medicines and Chemists’ Own portfolio. Bringing Amneal’s customer base into our network of supporting pharmacies further accelerates this current growth and strengthens the offering we bring to all our customers”.
Arrow Pharmaceuticals acquires Amneal Pharmaceuticals in Australia
CSL Behring to acquire Calimmune, Inc
CSL Limited, announced that CSL Behring has agreed to acquire Calimmune, Inc., a US biotechnology company focused on the development of ex vivo hematopoietic stem cell (HSC) gene therapy with R&D facilities in Pasadena, California, USA and Sydney, New South Wales, Australia for an upfront payment of $91 million.
The acquisition will provide CSL Behring with Calimmune’s pre-clinical asset, CAL-H, an HSC gene therapy for the treatment of sickle cell disease and β-thalassemia, which complements CSL Behring’s current product portfolio and deep expertise in hematology.
Additionally, CSL Behring will acquire two unique proprietary platform technologies, Select+™ and Cytegrity™ (see below for further details). These technologies are designed to address some of the major challenges currently associated with the commercialization of stem cell therapy, including the ability to manufacture consistent, high-quality products, and to improve engraftment, efficacy and tolerability. Both technologies have broad applications in ex vivo stem cell gene therapy.
“Calimmune shares in our promise and focus to improve the lives of patients with rare and serious medical conditions,” said CSL Limited Chief Executive Officer and Managing Director, Paul Perreault. “The acquisition represents another important step in the execution of our strategy for sustainable growth.”
“Calimmune’s scientific accomplishments are impressive,” Perreault added. “The team has built a robust technology platform, and designed a promising HSC gene therapy candidate - CAL-H, which strongly aligns with our longer-term strategic goals, and complements our core competencies and areas of therapeutic focus. While Calimmune is still in the early stages, we believe that our combined strengths have tremendous potential to change treatment paradigms, and most importantly, significantly improve the lives of our patients.” Read more...
Gilead Sciences, Inc., and Kite Pharma, Inc., announced that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Kite for $180.00 per share in cash. The transaction, which values Kite at approximately $11.9 billion, was unanimously approved by both the Gilead and Kite Boards of Directors and is anticipated to close in the fourth quarter of 2017. The transaction will provide opportunities for diversification of revenues, and is expected to be neutral to earnings by year three and accretive thereafter.
Kite is an industry leader in the emerging field of cell therapy, which uses a patient’s own immune cells to fight cancer. The company has developed engineered cell therapies that express either a chimeric antigen receptor (CAR) or an engineered T cell receptor (TCR), depending on the type of cancer.
Kite’s most advanced therapy candidate, axicabtagene ciloleucel (axi-cel), is a CAR T therapy currently under priority review by the U.S. Food and Drug Administration (FDA). It is expected to be the first to market as a treatment for refractory aggressive non-Hodgkin lymphoma, which includes diffuse large B-cell lymphoma (DLBCL), transformed follicular lymphoma (TFL) and primary mediastinal B-cell lymphoma (PMBCL). The FDA has set a target action date of November 29, 2017 under the Prescription Drug User Fee Act (PDUFA). A marketing authorization application (MAA) has also been filed for axi-cel for the treatment of relapsed/refractory DLBCL, TFL and PMBCL with the European Medicines Agency (EMA), representing the first submission in Europe for a CAR T therapy. Approval in Europe is expected in 2018. Kite has additional candidates in clinical trials in both hematologic cancers and solid tumors, including KITE-585, a CAR T therapy candidate that targets BCMA expressed in multiple myeloma.
We are greatly impressed with the Kite team and what they have accomplished, and share their belief that cell therapy will be the cornerstone of treating cancer. Our similar cultures and histories of driving rapid innovation in order to bring more effective and safer products to as many patients as possible make this an excellent strategic fit.”
Gilead Sciences to Acquire Kite Pharma for $11.9 Billion
Health Ministers and officials from APEC member economies are building capacity for healthcare financing and access in the Asia-Pacific to accommodate dramatic changes in demand and ensure productive workforces.
Viet Nam Deputy Prime Minister Vu Duc Dam launched two-day policy consultations, held in Ho Chi Minh City and supported by inputs from the private sector, by underscoring the urgent need for action to improve health innovation and coverage.
“An investment in health is an investment for development,” exhorted Deputy Prime Minister Vu. “Sharing policy successes and failures, and applying lessons learned is critical to moving APEC member economies towards our common goal of a healthy Asia-Pacific.”
“APEC economies with similar levels of health expenditure achieve strikingly different health outcomes from their investments,” added Prof Thi Kim Tien, Viet Nam’s Health Minister and meeting chair. “Clearly, no single mix of policy options will work in every setting,” she noted.
Ministers and officials are fleshing out new collaborative measures for enabling access to safe, effective and affordable healthcare for all people across APEC economies, in accordance with their APEC Healthy Asia-Pacific 2020 Initiative under implementation.
They are focused on advancing efficient, sustainable health system financing, trade and investment flows, and mechanisms for assessing returns on investment in health—bearing in mind variations in domestic circumstances as well as shared health challenges in APEC.
APEC Health Ministers Boost Patient-First Investment
Bangladesh Receives $515 million World Bank Financing to Improve Health and Nutrition Services
The government of Bangladesh signed a $515 million financing agreement with the World Bank to improve the country’s health, nutrition, and population services.
The Health Sector Support Project will contribute to the government’s fourth health sector program, and support strengthening the country’s health system, improving quality and coverage of essential services, and enhancing equity, in particular through a focus on service improvements in Sylhet and Chittagong divisions, where key health indicators are below national averages.
“Since 1975, the World Bank has been working closely with the government to improve the country’s health, nutrition and population outcomes.
Bangladesh has made notable progress in cutting maternal and child mortality rates by more than half since 2000, and we are proud to have contributed to these successes,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal. “This financing demonstrates the World Bank’s continued commitment to support government’s strategy to further improve the country’s health and nutrition services for all.”
The project will support the government in consolidating progress and filling remaining gaps in basic health services, including provision of quality delivery care in public health facilities for over 800,000 mothers as well as basic immunization coverage for nearly 5 million children in Sylhet and Chittagong divisions between 2017 and 2022.
The project will also support the government in meeting growing demand for quality health services, and addressing emerging health challenges such as non-communicable diseases and urban health. Further, as the government’s health spending increases, the project will help strengthen the country’s management of its health system, including procurement financial management systems.
Grand Fan Group, a company and distributor of three leading hair and body wash and care brands in China, held a press conference at which they announced the acquisition of the CICABEL brand and related technologies from French pharmaceutical manufacturer Santinov . The Chinese firm also disclosed that the first peptide-based facial mask set with the CICABEL name will formally go on sale in September.
An executive at Grand Fan Group said that as part of its ongoing expansion plans, the company is committed to developing new brands specifically for China's makeup and skin care market, while continuing to improve its three existing hair and body wash and care brands. This acquisition of a French brand represents Grand Fan Group's first strategic foray into the skin care sector.
CICABEL is a 130-year-old brand of French medical products manufacturer Santinov. Santinov created and launched the CICABEL mask using stem cells as the principal component, following years of research and development on the back of strong technological competence. In line with accepted biotechnology and medical standards, the CICABEL mask is one of few beauty products based on bio-medical technologies available in the market.
Although an enhanced awareness of skin care has led to an increasingly strong demand for beauty products over the last several years, the weak performance of most facial mask products available in the market has served to discourage consumers.
Grand Fan Group acquires the CICABEL brand
The Global Competitiveness Report 2017-2018: WEF
Ten years on from the global financial crisis, the prospects for a sustained economic recovery remain at risk due to a widespread failure on the part of leaders and policy-makers to put in place reforms necessary to underpin competitiveness and bring about much-needed increases in productivity, according to data from the World Economic Forum’s Global Competitiveness Report 2017-2018.
For the ninth consecutive year, the report’s Global Competitiveness Index (GCI) finds Switzerland to be the world’s most competitive economy, narrowly ahead of the United States and Singapore. Other G20 economies in the top 10 are Germany (5), the United Kingdom (8) and Japan (9). China is the highest ranking among the BRICS group of large emerging markets, moving up one rank to 27.
Drawing on data going back 10 years, the report highlights in particular three areas of greatest concern. These include the financial system, where levels of “soundness” have yet to recover from the shock of 2007 and in some parts of the world are declining further. This is especially of concern given the important role the financial system will need to play in facilitating investment in innovation related to the Fourth Industrial Revolution.
Another key finding is that competitiveness is enhanced, not weakened, by combining degrees of flexibility within the labour force with adequate protection of workers’ rights. With vast numbers of jobs set to be disrupted as a result of automation and robotization, creating conditions that can withstand economic shock and support workers through transition periods will be vital.
13 F, Gopala Towers, 25 Rajendra Place
New Delhi - 110008, India
FOREIGN DIRECT INVESTMENTS AND M&A REVIEW