Global pharmaceutical company, Allergan, intends to acquire Tobira Therapeutics, a clinical-stage bio-pharma company, for an approximate consideration of $1.695bn.
The companies have signed a definitive agreement, according to which Allergan’s subsidiary will initiate a cash tender offer to purchase all of the outstanding shares of Tobira common stock for $28.35 a share and up to $49.84 a share in contingent value rights (CVRs).
The consideration is payable based on the achievement of certain developments, regulatory and commercial milestones.
The acquisition is expected to further strengthen Allergan’s Gastroenterology research and development (R&D) pipeline with Cenicriviroc (CVC) and Evogliptin, two complementary development programmes for the treatment of non-alcoholic steatohepatitis (NASH).
In a move to expand and strengthen its expertise in haemostasis and in-vitro diagnostics (IVD), IVD instruments developer, Instrumentation Laboratory (IL) has completed the acquisition of CA Casyso and its Tem subsidiaries including Tem Innovations GmbH, Tem International GmbH and Tem Systems.
CA Casyso is a leading developer of IVD testing equipment for patient blood management (PBM) and is reputed for its flagship ROTEM testing systems.
ROTEM blood analysers provide a rapid diagnosis of coagulopathies, a bleeding disorder, and allow treatment with targeted therapy to reduce the risk of massive bleeding and haemorrhagic shock.
In a $4.325bn cash deal, pharmaceutical company Johnson & Johnson (J&J) has agreed to purchase Abbott Medical Optics (AMO), the eye-surgery equipment division of Abbott Laboratories.
The acquisition, which is expected to close by April 2017, will complement J&J’s existing portfolio of contact lenses and solutions by adding more products.