BioWorld - Sunday, May 28, 2023

Deals and M&A
Deals and M&A RSS Feed RSS

Boston Scientific abandons $230M purchase of M.I. Tech due to pressure from regulators

May 25, 2023
By Mark McCarty
No Comments
Boston Scientific Corp., has announced that it has abandoned its plans to acquire M.I. Tech Co. Ltd., of South Korea after opposition was announced by the U.S. Federal Trade Commission (FTC). The FTC lauded the news with a May 24 statement that cited the agency’s cooperation with other national regulatory authorities as a factor in scotching the proposed acquisition, the second time in recent weeks that government agencies have grounded mergers and acquisitions in the med-tech space.
Read More
eopatch2.jpg

Medtronic to acquire Eoflow for $738M to boost diabetes business

May 25, 2023
By Annette Boyle
No Comments
Medtronic plc agreed to acquire Eoflow Co. Ltd., the manufacturer of Eopatch, a tubeless, wearable and fully disposable insulin delivery service, for $738 million. The deal, which is expected to provide a significant boost to Medtronic’s beleaguered diabetes unit, is slated to close in the second half of 2023. The deal announcement coincided with Medtronic’s release of its fourth quarter results for fiscal 2023.
Read More
Handshake with dollar sign and checkmark

Gattex pragmatics drive Ironwood’s $1B buyout of Vectivbio

May 22, 2023
By Randy Osborne
No Comments
Once weekly vs. once daily injections plus increased potency vs. Gattex (linaclotide) inspired Ironwood Pharmaceuticals Inc. in its $1 billion takeover of Vectivbio Holding AG, which brings aboard the phase III-stage synthetic glucagon-like peptide-2 analog apraglutide, potentially a best-in-class agent for short bowel syndrome with intestinal failure.
Read More
Gavel and FTC logo

US FTC suit: Monopoly buster or investment disruptor?

May 16, 2023
By Mari Serebrov
The U.S. FTC’s unprecedented antitrust challenge to Amgen Inc.’s $27.8 billion acquisition of Horizon Therapeutics plc, could be a disruptor to biotech investment if the agency is victorious, some analysts are warning. “With essentially zero commercial overlap [between the two companies], this deal would seem to be a slam dunk under long-established antitrust considerations,” said Christopher Raymond, a senior research analyst with Piper Sandler Research.
Read More