Content about Acquisition

December 3, 2013

Forest Labs is spending at least $240 million to buy rights to a psychiatric drug made by Merck, the New York-based drug maker said.

NEW YORK — Forest Labs is spending at least $240 million to buy rights to a psychiatric drug made by Merck, the New York-based drug maker said.

Forest said it would buy the U.S. rights for Merck's Saphris (asenapine), a tablet dissolved under the tongue for the treatment of schizophrenia and manic episodes in patients with bipolar disorder. Forest will pay Merck $240 million upfront, as well as milestone payments based on sales, while Merck will supply the drug. Forest will market the drug and conduct clinical studies.

November 25, 2013

The global market research firm Harris Interactive on Monday announced that it has entered into a definitive merger agreement to be acquired by Nielsen Holdings.

ROCHESTER, N.Y. — The global market research firm Harris Interactive on Monday announced that it has entered into a definitive merger agreement to be acquired by Nielsen Holdings. 

November 25, 2013

A report in the New York Post that Sears Holdings is looking to sell its Canadian division is false, the retailer said.

HOFFMAN ESTATES, Ill. — A report in the New York Post that Sears Holdings is looking to sell its Canadian division is false, the retailer said.

The Post reported that Sears Holdings chairman and CEO Eddie Lampert was talking with investment bankers at the possibility of selling Sears Canada.

November 14, 2013

Dollar General Corporation on Wednesday announced the resignations of Raj Agrawal and Adrian Jones as members of its board of directors, effective Dec. 5, 2013.

GOODLETTSVILLE, Tenn. — Dollar General Corporation on Wednesday announced the resignations of Raj Agrawal and Adrian Jones as members of its board of directors, effective Dec. 5, 2013. Agrawal, a member of KKR, and Jones, a managing director at Goldman Sachs, have served as directors of Dollar General since 2007.

November 13, 2013

Facing an increasingly competitive retail landscape, Canadian retailer Loblaw Cos. posted a slight lift in retail sales but, due to incremental margin investment in the back half of the year, lowered its earnings growth expectations for 2013. However, company executives are optimistic as the company remains focused on investing in what it refers to as the “customer proposition” and looks forward to its acquisition of Shoppers Drug Mart.

BRAMPTON, Ontario — Facing an increasingly competitive retail landscape, Canadian retailer Loblaw Cos. posted a slight lift in retail sales but, due to incremental margin investment in the back half of the year, lowered its earnings growth expectations for 2013. However, company executives are optimistic as the company remains focused on investing in what it refers to as the “customer proposition” and looks forward to its acquisition of Shoppers Drug Mart.

November 11, 2013

Shire will pay $4.2 billion to buy a drug maker specializing in treatments for rare diseases.

DUBLIN — Shire will pay $4.2 billion to buy a drug maker specializing in treatments for rare diseases.

Shire, headquartered in Ireland, said the $50-per-share acquisition of ViroPharma would strengthen its rare disease portfolio. Exton, Pa.-based ViroPharma's products include the hereditary angioedema drug Cinryze (C1 esterase inhibitor [human]) and Vancocin (vancomycin hydrochloride), used to treat Clostridium difficile-associated diarrhea.

November 8, 2013

Merging two classic men’s grooming brands, Procter & Gamble unveiled earlier this year Head & Shoulders with Old Spice.

CINCINNATI — Merging two classic men’s grooming brands, Procter & Gamble unveiled earlier this year Head & Shoulders with Old Spice.

With 50 years of scalp care technology, Head & Shoulders continues to be a grooming staple for many men battling a flaky, itchy scalp. Meanwhile, Old Spice has continued to evolve to remain relevant in today’s challenging market. P&G in 1990 purchased the Old Spice fragrances, skin care and antiperspirant and deodorant products from the Shulton Co., which first introduced the brand in 1938.

November 8, 2013

Salix Pharmaceuticals will buy Santarus for $2.6 billion, the drug makers said.

RALEIGH, N.C. — Salix Pharmaceuticals will buy Santarus for $2.6 billion, the drug makers said.

Salix will acquire all outstanding common stock of Santarus for $32 in cash, representing an approximately 36% premium over the Wednesday closing price of the company. The acquisition is expected to close in first quarter 2014. Both companies specialize in gastrointestinal drugs.

November 6, 2013

Industry veteran Albert Sebok, who held a distinguished career as a pharmacist and healthcare advocate, passed away on Nov. 3.

STRONGSVILLE, Ohio — Industry veteran Albert Sebok, who held a distinguished career as a pharmacist and healthcare advocate, passed away on Nov. 3.

November 6, 2013

A pharmacist in Canada has won a prestigious award from Pfizer Consumer Healthcare, according to published reports.

NEW YORK — A pharmacist in Canada has won a prestigious award from Pfizer Consumer Healthcare, according to published reports.

Nova Scotia's Truro Daily News reported that retired pharmacist Allan MacKinnon received the company's Bowl of Hygeia award during the weekend. Coworkers Kerry Mattatall and Marilyn MacLeod had put together the nomination package for MacKinnon, including 27 letters of support, citing the MacKinnons' support for their community.

November 5, 2013

Endo Health Solutions will acquire Canadian drug maker Paladin Labs for $1.6 billion, mostly in shares of stock, Endo said Tuesday.

MALVERN, Pa. — Endo Health Solutions will acquire Canadian drug maker Paladin Labs for $1.6 billion, mostly in shares of stock, Endo said Tuesday.

November 4, 2013

Crossmark on Monday announced the acquisition of the assets of PromoWorks, an insights-driven shopper marketing solutions firm.

PLANO, Texas — Crossmark on Monday announced the acquisition of the assets of PromoWorks, an insights-driven shopper marketing solutions firm. PromoWorks will be led by industry veteran Julie Beck. Prior to joining PromoWorks in 2011, Beck held a variety of leadership positions at Procter & Gamble, Johnson & Johnson, Kraft and the Partnering Group.

November 4, 2013

Dollar General on Monday announced a number of senior management changes.

GOODLETTSVILLE, Tenn. — Dollar General on Monday announced a number of senior management changes. Todd Vasos has been named COO with responsibility for store operations, merchandising and supply chain. And David D'Arezzo has joined the company as EVP and chief merchandising officer. 

October 30, 2013

A division of inVentiv Health has acquired Catalina Marketing's medication adherence services subsidiary, inVentiv said Thursday.

BURLINGTON, Mass. — A division of inVentiv Health has acquired Catalina Marketing's medication adherence services subsidiary, inVentiv said Thursday.

The acquisition of Catalina Health by Adheris makes Adheris the largest provider in the nation of tailored, direct-to-patient medication adherence programs, inVentiv said. Catalina Health president Renee Selman will lead the combined company. Financial terms of the deal were not disclosed.

October 30, 2013

The Paws Pet Co. is buying an Irvine, Calif.-based compounding pharmacy as it seeks to transition from a pet company into a pharmaceutical company, Paws said.

PALO ALTO, Calif. — The Paws Pet Co. is buying an Irvine, Calif.-based compounding pharmacy as it seeks to transition from a pet company into a pharmaceutical company, Paws said.

October 29, 2013

Actavis had sales of $2.01 billion in third quarter 2013, a 57% increase over the same period last year, the drug maker said Tuesday.

DUBLIN — Actavis had sales of $2.01 billion in third quarter 2013, a 57% increase over the same period last year, the drug maker said Tuesday.

Profits for the quarter were $65.5 million, down from $76.7 million in third quarter 2012. The quarter's results exclude figures from Ireland-based Warner Chilcott, which Actavis acquired at the beginning of the month.

October 23, 2013

Drug maker Depomed has sold its interests in royalty and milestone payments for several Type 2 diabetes drugs to PDL BioPharma, Depomed said.

NEWARK, Calif. — Drug maker Depomed has sold its interests in royalty and milestone payments for several Type 2 diabetes drugs to PDL BioPharma, Depomed said.

The drug maker announced that it had sold its interest in the Type 2 diabetes therapeutic area to PDL for $240.5 million, which it plans to use to acquire rights to products it said would drive long-term growth and build on its expertise in pain and neurology.

October 18, 2013

Francisco Partners, a technology-focused private equity firm, earlier this week signed a definitive agreement to acquire McKesson Automation, a unit of McKesson Corp. that offers integrated pharmacy automation solutions for hospitals and health systems.

SAN FRANCISCO — Francisco Partners, a technology-focused private equity firm, earlier this week signed a definitive agreement to acquire McKesson Automation, a unit of McKesson Corp. that offers integrated pharmacy automation solutions for hospitals and health systems. McKesson Corp. previously announced its intent to divest this division, which will operate under a new name after the transaction closes. 

The transaction is expected to close this quarter and is subject to customary closing conditions.

October 15, 2013

AstraZeneca has acquired a British developer of biotech drugs for treating cancer, AstraZeneca said Tuesday.

LONDON — AstraZeneca has acquired a British developer of biotech drugs for treating cancer, AstraZeneca said Tuesday.

The company said its MedImmune subsidiary had acquired privately held Spirogen and also entered into a collaboration with ADC Therapeutics to develop two of ADC's antibody-drug conjugate programs, currently in pre-clinical development. MedImmune will make an equity investment in ADC, which has an existing licensing agreement with Spirogen.

October 10, 2013

Anti-aging products, once the darling of the facial skin care category, have experienced a slowdown in growth since the recession — due, in part, to an influx of new products and likely some cannibalization from such multitasking products as BB creams. Meanwhile, skin care staples like facial moisturizers and cleansers have moved into the lead. And while the overall facial skin care category is projected to see little growth in 2013, industry sources suggest that a turnaround is on the horizon.

Anti-aging products, once the darling of the facial skin care category, have experienced a slowdown in growth since the recession — due, in part, to an influx of new products and likely some cannibalization from such multitasking products as BB creams. Meanwhile, skin care staples like facial moisturizers and cleansers have moved into the lead.

October 10, 2013

A subsidiary of Johnson & Johnson has acquired rights to an experimental drug for hepatitis C from GlaxoSmithKline.

TITUSVILLE, N.J. — A subsidiary of Johnson & Johnson has acquired rights to an experimental drug for hepatitis C from GlaxoSmithKline.

Janssen Pharmaceuticals announced that it had bought, for an undisclosed among, the drug GSK2336805 from GSK. The drug, which belongs to a class known as NS5a replication complex inhibitors, is currently in mid-stage development.

October 4, 2013

Giant Food Stores turned 90 Friday, the Ahold USA-owned supermarket chain said.

CARLISLE, Pa. — Giant Food Stores turned 90 Friday, the Ahold USA-owned supermarket chain said.

The supermarket banner, which operates nearly 200 stores under the Giant and Martin's Food Markets brands in Pennsylvania, Maryland, Virginia and West Virginia, marked its 90th anniversary Friday morning at a store in its hometown of Carlisle, Pa. Customers at all the company's 200 stores will receive free slices of cake and free apple slices Friday.

October 3, 2013

GNC Holdings on Wednesday announced it has acquired A1 Sports Limited (d.b.a. Discount Supplements), a multi-brand sports nutrition e-commerce retailer in the United Kingdom.

PITTSBURGH — GNC Holdings on Wednesday announced it has acquired A1 Sports Limited (d.b.a. Discount Supplements), a multi-brand sports nutrition e-commerce retailer in the United Kingdom. 

The acquisition was funded with cash on hand. Terms of the deal were not disclosed.

Following the acquisition, GNC.com, LuckyVitamin.com and discount-supplements.co.uk will continue to operate as separate businesses, each with its own product offerings and target customers.

September 30, 2013

Amneal Pharmaceuticals has bought rights to four generic drugs from Actavis, Amneal said Monday.

BRIDGEWATER, N.J. — Amneal Pharmaceuticals has bought rights to four generic drugs from Actavis, Amneal said Monday.

September 10, 2013

Shareholders of Actavis and Warner Chilcott have approved the merger of the two drug makers, the companies said Tuesday.

PARSIPPANY, N.J. — Shareholders of Actavis and Warner Chilcott have approved the merger of the two drug makers, the companies said Tuesday.

The deal, whereby U.S.-based Actavis will acquire Ireland-based Warner Chilcott, is expected to close later this year.