Nov 22

The Business Cocktail

Cambrex takes over Avista in USD 250 Million agreement

Cambrex, life sciences company, is taking over Avista Pharma Solutions with a deal of USD 250 million to become a leading contract development and manufacturing organization (CDMO). The agreement includes the early-stage drug development and manufacturing capabilities of Avista to, New Jersey-based, Cambrex’s existing active pharmaceutical ingredient and finished dosage form services.

Sobi pays USD 50 Million on a rare disease drug

After Sobi remunerated Novimmune with USD 50 million in cash and used USD 400 million in milestones for a rare disease drug called emapalumab.  The FDA has given a nod to it. The drug is used to treat hemophagocytic lymphohistiocytosis, or HLH that is an autoimmune condition in which cells become overactive, releasing molecules that spur inflammation. The disease affects children primarily.

LEO Pharma signs USD 760 Million deal with PellePharm

LEO Pharma, a pharmaceutical company, has inked a research collaboration deal with PellePharm for late-stage trials. This gives an option for LEO to take over the small rare disease company. The agreement commences with USD 70 million in equity financing and R&D support to fund a global phase 3 trial for patidegib of PellePharm. PellePharm, the biotechnology company committed to target rare dermatological diseases, could receive up to USD 690 million after completion of certain regulatory and commercial milestones, double-digit royalty payments as well.

Boston Scientific remunerates USD 4.2 Billion to BTG  

Boston Scientific gets a deal finalised of remunerating BTG, healthcare company, for USD 4.2 billion in cash. This will help in acquiring a pipeline that will transform its oncology franchise into a USD 500 million interventional cancer therapy business. The medtech giant also assumes the deal to increase more than USD 400 million in revenue to its peripheral intervention segments. Also synergies between the two companies’ operations amounting more than USD 175 million. BTG has 1,600 employees across three main businesses that are cancer and vascular interventions, and a portfolio of speciality antidotes for snake bites and drug overdoses. It will give Boston Scientific the opportunity to extend into new therapies in coming years, including radiotherapies under development for lung and breast cancer.

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