J&J has been hunting for companies to buy. At the start of the year, the company’s new CEO Joaquin Duato said J&J would take a more “aggressive” approach to dealmaking, although he and other executives had indicated a preference toward small- and mid-sized acquisitions of medical technology and biotechnology companies.
Analysts had previously speculated that J&J could acquire a cardiology firm such as Boston Scientific.
In a statement, Duato said in the acquisition of Abiomed is “an important step in the execution of our strategic priorities” as the company focuses on its pharma and medtech businesses.
“We have committed to enhancing our position in medtech by entering high-growth segments,” he added. “The addition of Abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders.” READ MORE
by Elise Reuter
Source: biopharmadive.com
GSK has gained US Food and Drug Administration (FDA) breakthrough therapy designation (BTD) for its B7-H3-targeted antibody-drug conjugate (ADC), GSK’227, to treat adults with relapsed or refractory osteosarcoma who have progressed on a minimum of two previous lines of therapy.
As part of its long-term plans in the country, US drugmaker Merck & Co., operating as MSD outside of North America, has acquired WuXi Biologics’ site in Dundalk, Ireland, for about $500 million. The deal was announced through Ireland’s Foreign Direct Investment Agency (IDA) and MSD’s Ireland unit.
Galapagos, a biotechnology company headquartered in Belgium, plans to split into two entities: a newly formed company (name to be announced at a later date) that will focus on building a pipeline of innovative drugs through transformative transactions, and Galapagos, which will continue to develop its cell therapy manufacturing platform in oncology.
