DealZone

Big pharma keeps busy

October 21, 2008

It was a busy day for several leading drug companies, as they made acquisitions, or sought to reassure investors they have the means to follow through with planned acquisitions:

glaxo.jpg** GlaxoSmithKline Plc is acquiring Biotene, maker of a leading over-the-counter treatment for dry mouth, for $170 million in a move to bolster its consumer healthcare business.

** Swiss drugmaker Roche Holding AG confirmed its commitment to a $43.7 billion bid for the rest of Genentech Inc and reported a 2 percent fall in nine-month sales to 33.3 billion Swiss francs ($29.26 billion).

** Novartis AG has reached a deal to buy the pulmonary drug delivery unit of Nektar Therapeutics for $115 million in cash.

OTHER DEALS OF DAY:

** The Paris and Amsterdam airport authorities will own 8 percent of each other in a strategic alliance and cross-shareholding agreement announced by the French government.

** Russian airline S7 will file a “serious” bid for Austrian Airlines on Tuesday but it will tie it to conditions and ask for more time in the auction due to end next week, a source close to S7 said.

** Google Inc Chief Executive Eric Schmidt said the company had agreed to keep talking with the U.S. Justice Department about its proposed online advertising deal with Yahoo Inc.

** Brazilian mining giant Vale denied rumors that it was preparing a renewed proposal to buy a stake in Swiss rival Xstrata.

** Verizon Wireless, the second-largest U.S. mobile service provider, says it intends to follow through with its acquisition of Alltel Corp, despite tough credit market conditions, the Wall Street Journal reported.

Comments
One comment so far | RSS Comments RSS

Great…I like this story.thanks for sharing with us…

 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/