18 January 2019

Healthcare & Biotech

  • Australian medical center operator Healius has rejected a bid by stakeholder Jangho Group as being 'opportunistic'. Representational image: Bloomberg

    Australia’s Healius rejects US$1.2 bln bid from China’s Jangho

    Jan 7, 2019 9:26am
    Healius, Australia’s No. 2 medical center operator, on Monday rejected a A$1.7 billion (US$1.21 billion) buyout approach from Chinese construction company Jangho Group, Reuters reports. The Australian firm, known until recently as Primary Health Care, said its...
  • Bristol-Myers Squibb said the deal is expected to achieve US$2.5 billion in cost savings by 2022 and add more than 40 percent to its earnings in the first year after the deal closes. Photo: Reuters

    Bristol-Myers to buy Celgene for US$74 billion

    Jan 4, 2019 8:01am
    Bristol-Myers Squibb Co. said it will buy Celgene Corp. for about US$74 billion, combining two of the world’s largest cancer drug businesses in the biggest pharmaceutical deal ever, Reuters reports. Both Bristol-Myers and Celgene face separate...
  • WuXi AppTec will use its Hong Kong listing proceeds on several expansion projects, including a Chengdu R&D campus. Photo: Bloomberg

    China’s WuXi AppTec raises US$1.01 bln in HK listing: report

    Dec 7, 2018 3:25pm
    Chinese medical tech platform WuXi AppTec raised US$1.01 billion in its Hong Kong listing, valuing the company at US$10.2 billion, Reuters reports, citing sources. WuXi, which is already listed in Shanghai, priced its Hong Kong shares...
  • Bayer plans to divest some brands and reduce its workforce in a major cost-cutting drive following its acquisition of Monsanto. Photo: Bloomberg

    Bayer to sell businesses, cut jobs after Monsanto deal

    Nov 30, 2018 9:55am
    German drugmaker Bayer announced plans to sell some businesses in a cost-cutting drive that includes around 12,000 job cuts, as the firm reviews its operations following its takeover of US seed company Monsanto. The group said on...
  • Juul Labs will pull out popular flavors such as mango, cucumber and fruit from retail store shelves. Photo: Reuters

    Juul Labs to pull sweet e-cigarette flavors to curb youth use

    Nov 14, 2018 10:49am
    Juul Labs Inc., the US market leader for electronic cigarettes, said it will pull out popular flavors such as mango, cucumber and fruit from retail store shelves in an effort to reduce surging teenage use of...
  • US healthcare software maker Athenahealth is being acquired by a PE firm and a hedge fund in an all-cash deal.  Photo:

    Veritas Capital, Elliott in US$5.7 bln deal for Athenahealth

    Nov 13, 2018 9:32am
    Private-equity firm Veritas Capital and hedge fund Elliott Management are acquiring US healthcare software maker Athenahealth in a deal worth about US$5.7 billion. The all-cash deal values Athenahealth at US$135 per share, representing a premium of...
  • Takeda's acquisition of Shire will propel the Japanese firm into the global top 10 in the pharma industry. Photo: Reuters

    Takeda gets Japan FTC nod for US$62 bln Shire acquisition

    Oct 19, 2018 8:55am
    Takeda Pharmaceutical said on Thursday that Japan’s Fair Trade Commission (FTC) had approved the firm’s US$62 billion acquisition of Ireland-based drugmaker Shire Plc. Following the Japanese regulatory approval, Takeda is a step closer to sealing the...
  • European Medicines Agency (EMA) has placed China's Zhejiang Huahai Pharma under tighter supervision in relation to manufacturing practices. Photo: Bloomberg

    China drug maker placed under increased supervision by EU

    Oct 16, 2018 12:23pm
    European authorities announced on Monday that they are placing Zhejiang Huahai Pharmaceutical Co. under higher supervision, marking the latest crackdown on the Chinese firm after a probable carcinogen was found in its blood pressure drug valsartan....
  • Ascletis Pharma chairman Jason Wu celebrates his firm's listing under the new rules of the Hong Kong Stock Exchange on Aug. 1. Photo: Bloomberg

    HK bourse poised to attract many more biotech companies

    - Oct 5, 2018 11:24am
    The Hong Kong Stock Exchange (HKEx) has recaptured its title as the world’s top market for initial public offerings.  After placing third behind Nasdaq and the Shanghai Stock Exchange last year, HKEx carried out its biggest...
  • China Biologic is at the center of a bidding war involving two state-backed buyers. Representational image: Reuters

    China Biologic gets US$3.9 bln offer from group led by ex-CEO

    Aug 22, 2018 9:02am
    China Biologic Products has received a US$3.9 billion all-cash offer from a consortium of investment firms, valuing the Beijing-based firm at slightly above an earlier buyout proposal from a CITIC Capital unit, Reuters reports. The consortium,...
  • Amazon’s huge customer base and existing shipping infrastructure could allow Pillpack to scale up quickly. Photo: Reuters

    Amazon to buy online pharmacy PillPack

    Jun 29, 2018 9:15am announced Thursday that it is buying online pharmacy PillPack, a deal which could set the stage for the e-commerce giant to compete directly with drugstore chains, drug distributors and pharmacy benefit managers. The deal’s potential...
  • The US Supreme Court ruled 9-0 that the lower court gave too much deference to Chinese government filings explaining China’s regulatory policy in the antitrust case. Photo: AFP

    US Supreme Court sides with Trump in China antitrust case

    Jun 15, 2018 9:24am
    The US Supreme Court sided with the Trump administration in a trade row between the world’s two largest economies, throwing out a lower court ruling that had allowed two Chinese vitamin C makers to escape US$148 million...
  • Bayer last week won US approval for the Monsanto takeover, clearing a major hurdle for a deal that will create by far the largest seeds and pesticides maker. Photo: AFP

    Bayer launches US$7 billion cash call to fund Monsanto deal

    Jun 4, 2018 8:29am
    Bayer launched a 6 billion euros (US$7 billion) rights issue on Sunday, a cornerstone of the financing package for its planned US$62.5 billion takeover of seeds maker Monsanto, Reuters reports. The German drugmaker last week won...
  • Healthcare is a 'strategically important' business area for the Alibaba Group, says CEO Daniel Zhang. Photo: Bloomberg

    Alibaba injects pharmacy assets into healthcare unit

    May 30, 2018 9:10am
    E-commerce giant Alibaba Group said on Tuesday that it will inject some of its online pharmacy business into a listed unit in a deal valued at HK$10.6 billion (US$1.35 billion). Under the deal, Alibaba Health Information...
  • Johnson & Johnson has again stressed that its baby powder never contained asbestos, a known carcinogen linked to mesothelioma. Photo: Bloomberg

    J&J defends itself in new case related to baby powder

    May 15, 2018 10:24am
    Johnson & Johnson (J&J) defended itself in a new trial in the United States on claims related to its talc-based products, stressing that its widely-used baby powder never contained asbestos, a known carcinogen linked to mesothelioma. As...
  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...
  • Cigna’s CEO David Cordani says the Express Scripts acquisition will be good news for the health insurer’s employer clients. Photo: Reuters

    Health insurer Cigna to buy Express Scripts for US$52 bln

    Mar 9, 2018 9:47am
    US health insurer Cigna has agreed to buy pharmacy benefits manager Express Scripts in a deal worth US$52 billion, the latest mega transaction in the healthcare-related business in the country. The companies say the combination will...
  • Former drug company executive Martin Shkreli is scheduled to be sentenced for securities fraud on Friday. Photo: Bloomberg

    US judge orders ‘Pharma Bro’ Shkreli to give up US$7.36 million

    Mar 6, 2018 9:06am
    Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a US judge ordered him to forfeit US$7.36 million following his conviction of defrauding investors, Reuters reports....
  • The new initiative grew out of conversations that (from left) Jamie Dimon, Warren Buffett and Jeff Bezos  have held over the years and gained momentum in recent months. Photos: AFP, Reuters, Bloomberg

    Amazon, Berkshire, JPMorgan partner to cut US healthcare costs

    Jan 31, 2018 9:22am Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. will form a company to cut health costs for hundreds of thousands of their employees, setting up a major challenge to an inefficient US healthcare system,...
  • The deal is the first co-investment by Google and Tencent since the two companies revealed this month that they have signed a patent-sharing agreement. Photos: Reuters, Bloomberg

    Google, Tencent join US$15 million funding for pharma startup

    Jan 24, 2018 3:56pm
    Alphabet Inc.’s Google, Tencent Holdings Ltd. and Sequoia Capital China have joined a US$15 million B series funding round for Boston- and Shenzhen-based artificial intelligence (AI) pharmaceutical firm XtalPi Inc., Reuters reports. Sequoia led the round, which...

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