Quest Diagnostics Inc. agreed to purchase Canadian laboratory testing giant Lifelabs Inc. from the Ontario Municipal Employees Retirement System for US$985 million (CA$1.35 billion), including debt, in a deal expected to close by the end of the year. Quest projects that Lifelabs, which will retain its brand, headquarters and management, will contribute US$710 million in the first 12 months after closing.
South Korea’s SK Bioscience Co. Ltd. has entered a cross-shareholding acquisition deal with Germany’s Klocke Pharma-Service GmbH to acquire its contract development and manufacturing organization (CDMO), IDT Biologika Corp.
At a time when much of the biopharma space can’t seem to get enough of antibody-drug conjugates (ADC), Bristol Myers Squibb Co. is backing away from a potential $3 billion-plus collaboration with Eisai Co. Ltd., handing back full rights to the latter’s folate receptor alpha-targeting ADC, farletuzumab ecteribulin (FZEC), citing a portfolio reprioritization.
Alcon AG completed the acquisition of Belkin Vision Ltd. with an upfront consideration of $81 million with an additional $385 million in contingent payments. With the deal, Alcon gets its hands on Belkin’s U.S. FDA-cleared direct selective laser trabeculoplasty device, expanding its treatment options for patients with glaucoma.
Merck Sharp & Dohme Corp. (MSD), known as Merck & Co. Inc. in the U.S. and Canada, terminated its potential $1.86 billion deal with San Diego-based Artiva Biotherapeutics Inc. for novel chimeric antigen receptor-natural killer cell therapies. GC Cell disclosed news of the terminated deal on the Korea Exchange near market close of June 25, saying it was notified by Artiva after the decision was reached by MSD’s internal decision makers.
At a time when much of the biopharma space can’t seem to get enough of antibody-drug conjugates (ADC), Bristol Myers Squibb Co. is backing away from a potential $3 billion-plus collaboration with Eisai Co. Ltd., handing back full rights to the latter’s folate receptor alpha-targeting ADC, farletuzumab ecteribulin (FZEC), citing a portfolio reprioritization. Global rights to FZEC now reside with Tokyo-based Eisai, which said it intends to accelerate work on the candidate, which is in three clinical studies, including two phase II trials in gynecological cancers and non-small-cell lung cancer.
Merck & Co. Inc. is getting the exclusive, global rights from Orion Corp. to develop the oral prostate therapy, ODM-208, which the two companies hammered out a deal for in 2022. Orion could now bring in up to $30 million in development milestones, as much as $625 million in regulatory milestone payments, and up to $975 million in sales-based milestones. The deal adds up to $1.6 billion for Espoo, Finland-based Orion. Orion, which has a number of other deals with other companies, could also receive annually tiered royalty payments ranging from a low double-digit rate up to a rate in the low 20s on net sales for any commercialized licensed product.
Yuhan Corp., of Seoul, South Korea, has inked a ₩150 billion (US$108.6 million) deal with Korean biotech Ubix Therapeutics Inc. to gain exclusive global rights to UBX-103, Ubix’s oral small-molecule androgen receptor degrader for prostate cancer. Yuhan also announced July 1 that it gained the U.S. FDA’s nod to start a phase I study of a Gaucher disease drug candidate called YH-35995.
Merit Medical Systems Inc. acquired the Esophyx Z+ device from Endogastric Solutions Inc. for $105 million in cash, adding a durable, non-pharmacological treatment for gastroesophageal reflux disease to its line-up of gastrointestinal products.
South Korea’s SK Bioscience Co. Ltd. has entered a cross-shareholding acquisition deal with Germany’s Klocke Pharma-Service GmbH to acquire its contract development and manufacturing organization (CDMO), IDT Biologika Corp.
RSS
