Content about Acquisition

February 5, 2013

Costco will replace Coke with Pepsi at its in-store lunch counters, according to published reports.

NEW YORK — Costco will replace Coke with Pepsi at its in-store lunch counters, according to published reports.

Costco will start selling Pepsi instead of Coca-Cola products at its food courts starting in April, news media reported. Stores in two of its eight regions already had switched to Pepsi. The company has long sold a $1.50 hot dog-and-soda combination meal at its stores.

According to reports, the switch was not related to a dispute between Costco and Coca-Cola in 2009, when the club retailer temporarily stopped carrying Coke products in its stores.

February 1, 2013

Leading private-label supplier Perrigo has acquired pet health company Velcera for $160 million.

NEW YORK — Leading private-label supplier Perrigo has acquired pet health company Velcera for $160 million.

The deal follows last fall’s acquisition of Sergeants and signals Perrigo’s intent to accelerate growth in areas beyond its traditional businesses of consumer health care, nutrition products and prescriptions. Velcera is a pet health company best known for its PetArmor brand of flea and tick products that are widely available at retailers nationwide, much to the chagrin of veterinarians. PetArmor had sales of $60 million last year.

January 28, 2013

U.S. generic drug maker Amneal Pharmaceuticals has entered a deal with South Korean drug maker Hanmi Pharmaceutical to acquire exclusive distribution rights for a Hanmi drug used for treating gastroesophageal reflux disease, Amneal said Monday.

BRIDGEWATER, N.J. — U.S. generic drug maker Amneal Pharmaceuticals has entered a deal with South Korean drug maker Hanmi Pharmaceutical to acquire exclusive distribution rights for a Hanmi drug used for treating gastroesophageal reflux disease, Amneal said Monday.

January 18, 2013

The AIDS Healthcare Foundation is rebranding a chain of specialty pharmacies it recently bought.

LOS ANGELES — The AIDS Healthcare Foundation is rebranding a chain of specialty pharmacies it recently bought.

The AHF, which bought MOMS Pharmacy in August 2012, said it would rebrand the chain as AHF Pharmacy. MOMS is focused exclusively on providing medications and support services to people living with HIV and AIDS. The name change will be effective immediately, but the entire rebranding could take several months due to state pharmacy regulations and the need to replace signage, prescription labeling and other fixtures.

January 15, 2013

Hong Kong-based Li & Fung — a multinational consumer goods sourcing, distribution and logistics group — has acquired Lornamead for about $190 million.

HONG KONG — Hong Kong-based Li & Fung — a multinational consumer goods sourcing, distribution and logistics group — has acquired Lornamead for about $190 million.

January 15, 2013

The state supreme court in Alabama ruled that brand-name drug companies could be sued if patients suffer complications from generic versions of their medicines, according to published reports.

NEW YORK — The state supreme court in Alabama ruled that brand-name drug companies could be sued if patients suffer complications from generic versions of their medicines, according to published reports.

According to The New York Times, an Alabama man named Danny Weeks claimed he developed tardive dyskinesia after taking generic versions of Pfizer's acid reflux drug Reglan (metoclopramide). Pfizer acquired rights to the drug when it bought Wyeth in 2009, and generic drug makers Teva and Actavis, now owned by Watson, make generic versions.

January 15, 2013

Interest in vitamins, minerals and supplements as a viable consumer product with strong profit-bearing potential has got to be at an all-time high right now, judging from the number of merger and acquisition deals scrolling across the latest finance news feeds.

Interest in vitamins, minerals and supplements as a viable consumer product with strong profit-bearing potential has got to be at an all-time high right now, judging from the number of merger and acquisition deals scrolling across the latest finance news feeds.

January 10, 2013

In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

MINNEAPOLIS — In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

January 9, 2013

"2012 was definitely an important year for Walgreens," Greg Wasson, Walgreens president and CEO, told shareholders here Wednesday afternoon at the chain's annual shareholder meeting. "We did make some tough choices to protect and solidify … our position for the long term," he said. "[But] our vision is crystal clear to become the first choice for health and daily living in America."

 CHICAGO — "[The year] 2012 was definitely an important year for Walgreens," Greg Wasson, Walgreens president and CEO, told shareholders here, at the Navy Pier, Wednesday afternoon, at the chain's annual shareholder meeting. "We did make some tough choices to protect and solidify … our position for the long term," he said. "[But] our vision is crystal clear to become the first choice for health and daily living in America."

January 9, 2013

Procter & Gamble has announced that current P&G director Johnathan Rodgers has decided not to seek re-election at P&G’s annual shareholder meeting in October 2013, choosing to retire from the board at that time.

CINCINNATI — Procter & Gamble has announced that current P&G director Johnathan Rodgers has decided not to seek re-election at P&G’s annual shareholder meeting in October 2013, choosing to retire from the board at that time.

The company also announced the appointment of Terry Lundgren, chairman, president and CEO of Macy’s to its board, effective immediately.

January 7, 2013

A company that provides cloud-based electronic health record, practice management and care-coordination services is buying a developer of point-of-care mobile health applications for physicians.

WATERTOWN, Mass. — A company that provides cloud-based electronic health record, practice management and care-coordination services is buying a developer of point-of-care mobile health applications for physicians.

Athenahealth announced Monday that it would buy Epocrates for about $293 million, or $11.75 per share. The deal for Epocrates, used by more than 330,000 physicians, is expected to close in second quarter 2013, pending approval from Epocrates' shareholders and other conditions.

January 4, 2013

Hormel Foods announced it has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever United States, of Englewood Cliffs, N.J.

AUSTIN, Minn. — Hormel Foods announced it has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever United States, of Englewood Cliffs, N.J.

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the United States and other jurisdictions.

December 28, 2012

Watson Pharmaceuticals on Friday confirmed that Actavis, which was acquired by Watson in October, has filed an abbreviated new drug applications with the Food and Drug Administration seeking approval to market bortezomib, a generic version of Millennium Pharmaceuticals' Velcade.

PARSIPPANY, N.J. — Watson Pharmaceuticals on Friday confirmed that Actavis, which was acquired by Watson in October, has filed an abbreviated new drug applications with the U.S. Food and Drug Administration seeking approval to market bortezomib, a generic version of Millennium Pharmaceuticals' Velcade.

Bortezomib is a proteasome inhibitor for intravenous or subcutaneous administration, approved for treatment of patients with multiple myeloma and patients with mantle cell lymphoma who have received at least one prior therapy.

December 20, 2012

Actavis has donated $200,000 worth of medicines to help people affected by Hurricane Sandy, a charity organization said Thursday.

STAMFORD, Conn. — Actavis has donated $200,000 worth of medicines to help people affected by Hurricane Sandy, a charity organization said Thursday.

AmeriCares announced that it donated the antibiotics, pediatric medicines and other drugs to healthcare providers helping affected families in New York and New Jersey within days of the storm. Actavis was acquired earlier this year by Watson Pharmaceuticals.

December 18, 2012

Drug maker Merz Pharmaceuticals is suing Par Pharmaceutical over the latter's attempt to market a generic drug for cerebral palsy patients, according to published reports.

NEW YORK — Drug maker Merz Pharmaceuticals is suing Par Pharmaceutical over the latter's attempt to market a generic drug for cerebral palsy patients, according to published reports.

Bloomberg reported that Merz sued Par in the U.S. District Court for the District of Delaware after Par attempted to apply for Food and Drug Administration approval for a generic version of Cuvposa (glycopyrrolate) oral solution, used to treat severe drooling in cerebral palsy patients.

The drug received FDA approval this year, and Merz bought rights to the drug in August.

December 18, 2012

The Vitamin Shoppe will buy a Pacific Northwest-based supplement chain, the New Jersey-based company said.

NORTH BERGEN, N.J. — The Vitamin Shoppe will buy a Pacific Northwest-based supplement chain, the New Jersey-based company said.

The Vitamin Shoppe said it would buy Super Supplements for $50 million. Super Supplements operates 31 stores in Washington, Oregon and Idaho, and the Vitamin Shoppe said the acquisition would expand its presence in the Northwest, where it already operates 17 stores. The transaction is expected to close on Dec. 31.

December 18, 2012

PepsiCo's Tropicana brand is introducing a new way for moms to sneak veggies into their kids' diets: Farmstand, a fruit-and-vegetable drink to hit the refrigerated section of supermarkets in January.

PepsiCo's Tropicana brand is introducing a new way for moms to sneak veggies into their kids' diets: Farmstand, a fruit-and-vegetable drink to hit the refrigerated section of supermarkets in January.

December 17, 2012

Japanese drug maker Takeda Pharmaceutical Co. is selling its generics business to India-based Sun Pharmaceutical Industries, Takeda said.

OSAKA, Japan — Japanese drug maker Takeda Pharmaceutical is selling its generics business to India-based Sun Pharmaceutical Industries, Takeda said Monday.

Takeda said it would sell URL Pharma, through U.S. subsidiary Takeda Pharmaceuticals USA, to Sun subsidiary Caraco Pharmaceutical Labs while retaining control of the gout treatment Colcrys (colchicine). Takeda acquired rights to Colcrys when it bought URL Pharma for $800 million in June 2012; financial terms of the current deal with Caraco were not disclosed.

December 11, 2012

Biotech and vaccines company Nuron Biotech has bought rights from Pfizer for a vaccine to prevent infection by a bacteria that is a major cause of infectious disease around the world.

EXTON, Pa. — Biotech and vaccines company Nuron Biotech has bought rights from Pfizer for a vaccine to prevent infection by a bacteria that is a major cause of infectious disease around the world.

December 10, 2012

The Jean Coutu Group recently announced that it is acquiring a 50% stake in Le Groupe Médicus, which specializes in orthotic and prosthetic devices.

LONGUEUIL, Quebec — The Jean Coutu Group recently announced that it is acquiring a 50% stake in Le Groupe Médicus, which specializes in orthotic and prosthetic devices.

Financial terms of the deal were not disclosed.

Founded in 1957 by Jean-Claude Bleau, Médicus is a private-sector employer of orthotist and prosthetist graduates in Quebec and specializes in orthotic and prosthetic devices and rehabilitation products by completing the multidisciplinary treatment plan.

December 7, 2012

CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

WOONSOCKET, R.I. — CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

The Valor Economico newspaper reported that CVS Caremark plans to pay $313 million to acquire an 80% stake in Onofre and will also assume the company's debt.

“We don’t comment on market rumors,” CVS Caremark spokesman Mike DeAngelis told Drug Store News.

December 5, 2012

Walgreens last month acquired UCH Pharmaceutical Services, an independent retail pharmacy based in Indiana, the company that helped broker the deal announced Wednesday.

ADDISON, Texas — Walgreens last month acquired UCH Pharmaceutical Services, an independent retail pharmacy based in Indiana, the company that helped broker the deal announced Wednesday. 

UCH is an independent retail pharmacy that provided specialty compounding services throughout Grant County, Ind. 

The Transition Companies acted as UCH’s sole M&A advisor for this transaction, which closed in November 2012.

 

 

December 3, 2012

Dean Foods has entered into a definitive agreement to sell its Morningstar Foods division to Saputo for $1.45 billion.

DALLAS — Dean Foods has entered into a definitive agreement to sell its Morningstar Foods division to Saputo for $1.45 billion.

Morningstar Foods is a manufacturer of dairy and nondairy extended-shelf-life and cultured products, including creams and creamers, ice cream mixes, whipping cream, aerosol whipped toppings, iced coffee, half and half, value-added milks, sour cream and cottage cheese.

November 29, 2012

It’s a marriage of industry icons. In June, Walgreens finally made a long-awaited leap across the Atlantic to acquire British-based Alliance Boots, one of the world’s premier retailers of pharmaceuticals, health and beauty aids, and beauty care products. 


It’s a marriage of industry icons. In June, Walgreens finally made a long-awaited leap across the Atlantic to acquire British-based Alliance Boots, one of the world’s premier retailers of pharmaceuticals, health and beauty aids, and beauty care products. 


November 29, 2012

Watson Pharmaceuticals is changing its name to Actavis following its acquisition of the Swiss drug maker, Watson said.

Watson to change brand in 2013
PARSIPPANY, N.J. — Watson Pharmaceuticals is changing its name to Actavis following its acquisition of the Swiss drug maker, Watson said. Watson, whose $5.6 billion acquisition of Actavis received approval from the Federal Trade Commission in October, said it would adopt the new name starting in 2013, with plans to start a multi-year rebranding campaign and trade under a new symbol on the New York Stock Exchange.