Novartis pushes further into gene therapy for the eye with deal for Swiss startup

SWITZERLAND – Novartis has bought a second biotech startup developing gene therapies for the eye, Arctos Medical, a small Swiss company spun out of the University of Bern. Arctos, which previously received financial backing from Novartis’ venture fund, specializes in optogenetics, a field of research which uses light to probe the behavior of neurons. Drawing on this science, Arctos is attempting to transform other types of retinal cells into photoreceptor-like cells by delivering a gene that encodes for a light-sensitive protein. Arctos, and now Novartis, envision this technology could be…

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Lincoln Pharma acquires plant for making pneumonia, bronchitis antibiotics

INDIA – Indian drug maker Lincoln Pharmaceuticals Limited has acquired a facility in Mehsana state in India that makes antibiotics used in the treatment of pneumonia and bronchitis, among other ailments. The acquisition along with capacity expansion and modernization entails an investment of US$4.07 million (Rs 30 crore) which Lincoln Pharma will fund through internal accruals. The plant will manufacture Cephalosporin products which is a bactericidal, broad-spectrum, and β-lactam antibiotic originally derived from fungus Acremonium. To be manufactured in tablet, capsule, dry syrup and injectable forms, Cephalosporin is used to…

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Biocon Biologics offers 15% stake to Serum Institute Life Sciences for US$ 4.9 billion

INDIA – Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd. and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India (SII), have announced a strategic alliance where BBL said it will offer around 15% stake to SILS at a post-money valuation of about US$4.9 billion. BBL will then get access to 100 million doses of vaccines per annum for 15 years from Serum Life Sciences’s (SILS) upcoming facility in Pune. The company will also receive commercialization rights for SILS’ vaccine portfolio for global markets.…

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UAE holding company ADQ acquires pharmaceutical company Acino

UAE – ADQ, one of UAE’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has entered into a definitive agreement to acquire Swiss-based Acino, a leading provider of high-quality pharmaceuticals focused on growth-leading markets across the Middle East, Africa, Latin America, Russia, Ukraine and the CIS Region. Acino is a leader in more than 20 therapeutic areas including gastroenterology, cardiovascular and pain relief for high-quality pharmaceutical products in novel drug delivery forms. With its own sales force and distribution partnerships,…

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PharmEasy acquires hospital supply-chain management startup Aknamed for US$190 million

INDIA – India’s largest online pharmacy chain, PharmEasy, has acquired Aknamed, a cloud-based hospital supply chain management start-up, in a largely inventory deal valued at US$180 – US$190 million. Aknamed, based in Bengaluru, India’s largest industrial city, provides procurement options to over 1,200 hospitals, among them Manipal Hospitals, Columbia Asia, and Narayana Wellbeing. Founded in 2018 bySaurabh Pandey and Mahadevan Narayanmoni, Aknamed has managed to grow its monthly revenue 10 times at the end of the last fiscal year. The acquisition, which is much like its buy of Thyrocare in…

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Sanofi bolsters transplant business with acquisition of Kadmon for US$1.9 billion

FRANCE – French drug maker Sanofi is on the move to acquire Kadmon Pharmaceuticals for US$1.9 billion, reinforcing its transplant medicines business with a newly approved treatment for graft-versus-host disease. This new deal comes in hot on the heels of Sanofi’s purchase of another US biotech, Translate Bio for US$3.2 billion. Sanofi said it has offered US$9.50 per share in cash for Kadmon, representing a total equity value of approximately US$1.9 billion on a fully diluted basis, and that both companies’ boards unanimously approved the transaction. “The acquisition supports Sanofi’s…

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Abbott acquires Walk Vascular a commercial-stage medical device company

USA – Abbott, a global healthcare leader, announced that it has acquired Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive mechanical aspiration thrombectomy system designed to remove peripheral blood clots. Walk Vascular’s peripheral thrombectomy systems will be incorporated into Abbott’s existing endovascular product portfolio. Financial terms were not disclosed. “The acquisition of Walk Vascular fits well into our leading vascular device offerings and further drives Abbott’s ability to provide one-of-a-kind endovascular therapy solutions to improve patient care,” said Julie Tyler, Senior Vice President of Abbott’s vascular…

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Philips completes sale of Domestic Appliances business to Hillhouse Investment

NETHERLANDS – Royal Philips, a global leader in health technology, has announced that it has completed the sale of the Domestic Appliances business to Hillhouse Investment, a global investment firm. The results of this transaction, which Philips announced on March 25, 2021, will be reported under discontinued operations in the third quarter of 2021. Philips received cash proceeds after tax and transaction-related costs of approximately EUR 3 billion. The transaction values Domestic Appliances, a global leader with EUR 2.2 billion sales in 2020 in kitchen, coffee, garment care and home…

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Singapore based P.E major buys out Indian Calibre Chemicals for US$100 million

SINGAPORE – Private equity major Everstone has announced acquisition of a controlling stake in Calibre Chemicals, which is a specialty ingredients player focused on the pharmaceutical, nutritional and personal care segments, for a reported US$100 million (around Rs 730 crore). The city-based, privately-held Calibre was established in 1984 and manufactures a range of specialty chemicals falling into two product lines–mineral derivatives (iodine, selenium, cobalt) and peroxygens (persulphates, perchlorates). Calibre also offers various packaging solutions including paper cartons, HDPE drums, LDPE bags, steel drums and fiber drums apart from manufacturing various…

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Aurobindo Pharma, Cadila, 3 others in race to acquire Sterling Biotech

INDIA – Aurobindo Pharma, Cadila Healthcare, UPL and two other companies are in the fray to acquire bankrupt Sterling Biotech Ltd. through the liquidation process. The other two companies in the race are ACG Associated Capsules and Gland Celsus Bio Chemicals. Last month, the liquidator had invited bids for the liquidation process of Sterling Biotech to sell it as a going concern at a reserve price of Rs 548.46 crore. Lovkesh Batra, a member of the Mamta Binani-led liquidation team told media that the shortlist of entities looking to acquire…

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