Record year for pharma deals but firms fail to sell mature-drug portfolios
London
IN A record year for healthcare acquisitions, some of the largest pharmaceutical companies tried to sell their portfolios of older drugs - and failed.
Drug companies have agreed to about US$260 billion of deals so far in 2014, the most since at least 2002 and more than twice the volume last year, according to data compiled by Bloomberg. Fuelled by cheap debt, buyers like Actavis and Merck paid substantial premiums amid competition for new drug pipelines.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet
ING unveils 2.5 billion euros buyback as profit beats estimates
Prosper Cap halts operations at UK hotel after fire breaks out
DBS chief expects 2024 earnings to hit new highs as Q1 profit rises 15% to S$2.95 billion