Tag Archives: Deal

What Is Behind the Genzyme Job Cuts?

Troubled biotech Genzyme’s (Cambridge, MA) planned elimination of over 1,000 jobs (10% of its 12,800 workforce, according to the Boston Globe) over the next 15 months is not related to the takeover bid from French giant Sanofi Aventis, the company has said.
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Roche and Genentech Seal the Deal
for $46.8 Billion

After months and months of back and forth over the true value of Genentech, Roche finally got the good news it’s been looking for: Genentech’s board of directors, this morning, approved Roche’s latest offer of $46.8 billion ($95 per share) to acquire all shares of the biotech giant. Roche plans to keep the Genentech site […]
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Merck/Schering-Plough Merger Highlights (Update 1)

Merck and Schering-Plough’s CEOs are giving a run down of the benefits of the $41.1 billion merger, announced this morning, in a conference call with investors. Here are some of the highlights: • Total price of the sale will be $41.1 billion or $23.6 per Schering share. • This deal is structured as a reverse […]
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Schering-Plough to Merge with Merck for $41.1 Billion

Merck’s Richard T. Clark Image via Wikipedia Merck announced, a little over an hour ago, that it had signed an agreement with Schering-Plough’s board of directors to merge the two companies under the Merck name. The stock and cash transaction is worth over $41 billion with Schering shareholders receiving $10.50 per share in cash and […]
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Astellas Keeps After CV Therapeutics

Astellas bid for CV Therapeutics turned hostile this morning when the Japanese drug firm offered $1 billion dollars for the company directly to shareholders. The CVT board rejected Astellas’s second proposal last Friday stating that the Astellas proposal undervalued the company and is not in the best interest of the shareholders. In a press release […]
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