Author: IQ TIMES MEDIA
(Reuters) -Blackstone and TPG have agreed to acquire medical diagnostics firm Hologic in an up to $18.3 billion deal, it said on Tuesday, marking one of the largest healthcare take-private transactions this year. Under the agreement, Blackstone and TPG will pay $76 apiece in cash to acquire all outstanding Hologic shares, implying a premium of nearly 6% to stock’s last closing price. Shareholders are also eligible for a non-tradable right to receive up to $3 per share, contingent on certain global revenue goals for its breast health business in fiscal years 2026 and 2027, bringing the total potential payout to…
By Sneha S K and Sriparna Roy (Reuters) -Elevance Health on Tuesday beat Wall Street estimates for third-quarter profit as the health insurer managed to keep medical costs in check, sending its shares 3% higher in premarket trading. Several insurers such as Elevance, UnitedHealth and Centene have warned of elevated costs across government-backed plans following increased demand for healthcare across the United States over the last two years. Despite a dynamic healthcare environment, Elevance’s results were in line with expectations and reflected the company’s disciplined execution across its platforms, CEO Gail Boudreaux said. “As we plan for 2026, we remain…
By Stine Jacobsen, Jacob Gronholt-Pedersen and Maggie Fick COPENHAGEN/LONDON (Reuters) -Novo Nordisk’s top investor moved to take control of the drugmaker’s board on Tuesday, vowing a sharper focus on the key U.S. market to revive sales of blockbuster weight-loss drug Wegovy as Novo’s chair and six independent board members quit. The non-profit Novo Nordisk Foundation, which combines business ownership with philanthropy, said it would propose its own chair Lars Rebien Sorensen – a former Novo CEO – to lead the Danish drugmaker’s board for the next two or three years. Novo said current chair Helge Lund and six other independent…
(Reuters) -Novo Nordisk will replace chair Helge Lund and six independent directors next month in a major boardroom shakeup following a disagreement over strategy with its powerful controlling shareholder, Novo Nordisk Foundation. They will step down at an extraordinary general meeting on November 14. The changes come after Mike Doustdar was named the drugmaker’s new CEO in August in its efforts to revive sales of the blockbuster weight-loss drug Wegovy. Kasim Kutay, CEO of another major shareholder, Novo Holdings, and employee-elected board members Elisabeth Dahl Christensen, Liselotte Hyveled, Mette Bøjer Jensen and Thomas Rantzau will remain on the board. The…
By Mariam Sunny (Reuters) -Medical diagnostics firm Hologic has agreed to be acquired by Blackstone and TPG in a deal valued at up to $18.3 billion, it said on Tuesday, marking one of the largest healthcare take-private transactions this year. The company, which specializes in women’s health diagnostics, including breast and cervical cancer screening, has grappled with waning demand since the COVID-19 pandemic, as well as rising competition. Under the agreement, Blackstone and TPG will pay $76 apiece in cash to buy all outstanding Hologic shares, implying a premium of nearly 6% to the stock’s last close. Hologic shares were…
(Reuters) -Boston Scientific raised its annual profit forecast on Wednesday, after the medical device maker beat third-quarter profit estimates on strong demand for its heart devices. The company, which generates most of its revenue from heart devices such as pacemakers and stents, has benefited from rising demand for surgical procedures, helping offset broader concerns over healthcare spending. Larger rival Johnson & Johnson last week also reported a 6.8% rise in quarterly medical devices sales. Boston Scientific, last week, said it will buy the remaining equity in privately held Nalu Medical for about $533 million in cash, expanding its portfolio of…
(Reuters) -Alkermes said on Wednesday it will acquire Avadel Pharmaceuticals in a deal valued at up to $2.1 billion, gaining an approved sleep-disorder treatment and expanding into the sleep-medicine market. The deal gives Alkermes an entry into the sleep-medicine market with Avadel’s Lumryz, which is approved to treat cataplexy or excessive daytime sleepiness in patients aged seven and older with narcolepsy, a disorder that affects the body’s ability to regulate sleep-wake cycles. Under the agreement, Alkermes will buy all outstanding Avadel ordinary shares for $18.50 in cash each, a 3.5% premium to Avadel’s last close. Avadel shareholders will also receive…
By Jesus Calero (Reuters) -Shares of Novo Nordisk fell around 3% on Wednesday, extending their losses from a day earlier, after the Wegovy maker’s top investor proposed a sweeping board overhaul. The non-profit Novo Nordisk Foundation said that current chair Helge Lund and six other independent board members would step down next month after a dispute with the foundation over the pace of change at the company. The foundation plans to install Lars Rebien Sorensen, a former Novo CEO and the chairperson of the foundation, as the company chair for up to three years. It has also proposed six new…
(Reuters) -Medical equipment maker Thermo Fisher beat analysts’ estimates for third-quarter revenue and profit on Wednesday, owing to strong demand for its tools and technologies that are used to develop therapies. Contract research firms such as Thermo Fisher are seeing renewed demand as pharmaceutical companies ramp up drug development and manufacturing, while benefiting from easing trade tensions. The Trump administration has extended some tariff exclusions in China through November 29, but signaled potential new duties, prompting Beijing to threaten countermeasures. China is a key source of raw ingredients and supplies for the pharmaceutical and medical device industries across the world.…
(Reuters) -Japan’s Takeda Pharmaceutical Co has signed a deal with Innovent Biologics to accelerate development of the Chinese drugmaker’s oncology medicines, it said on Wednesday. Takeda will help to develop Innovent’s non-small cell lung and colorectal cancer medicine candidate IBI363, and gastric and pancreatic cancer candidate IBI343. It also has an option to help develop another locally advanced or metastatic solid tumour medicine candidate IBI3001. Andy Plump, president of Research and Development at Takeda, said in a statement the company was encouraged by clinical results and looked forward to working with Innovent “to deliver these potentially best-in-class medicines to patients…