Teva triumphs in Ratiopharm battle
This article was originally published in Scrip
Teva Pharmaceutical Industries has fought off competition from Pfizer and Actavis to acquire the German generics maker Ratiopharm for €3.63 billion. The deal ended a nine-month long auction for the company and will cement Teva's position in the European generics market.
You may also be interested in...
AB Science has closed its IPO at just half of the value of its initial expectations. The gross proceeds of the French firm's offer were €27.5 million, compared with the €55.5 million it anticipated when it filed for the offering on 8 April. Of the total, the company secured $16.5 million from the sale of newly issued shares; the remaining €11 million went to selling shareholders.
Amgen's sales rebounded in the first quarter rising 9% to $3.6 billion after a disappointing end to last year. However, the introduction of new legislation for US healthcare has weighed on its forecast for the year, as it has done for many of its competitors.
Actelion's total revenues leapt up by 24% to CHF502 million ($467 million) during the first quarter due to stronger demand for its pharmaceuticals. The firm's net income rose by 30% to CHF133 million, while its diluted EPS increased from CHF0.83 in the first quarter last year to CHF1.09.