Allergan adopts poison pill against $48bn Valeant bid
This article was originally published in Clinica
Executive Summary
Medical device and pharmaceuticals firm Allergan adopted a stockholder rights plan, otherwise known as a poison pill, late on 22 April to protect its research pipeline and block a bid from Valeant Pharmaceuticals that values Allergan's Botox-led portfolio and late-stage development programs at $48bn.
You may also be interested in...
Finance Watch: Pfizer Adds $3.5bn To Cash Stockpile, Reduces Stake In Haleon
Public Company Edition: Pfizer’s stake in Haleon dropped from 32% to 22.6% with a massive sale of shares of the GSK consumer health spinout. Also, Galderma prices its Swiss IPO, Madrigal grosses $600m in a post-approval offering and bluebird secured up to $175m in debt.
Finance Watch: Another Bevy Of VC Mega-Rounds, Including $175m For Capstan
Private Company Edition: Capstan and Engrail raised $175m and $157m, respectively, in series B venture capital rounds in addition to Madrigal’s $400m-plus launch and Clasp’s $150m series A.
Roche/Chugai’s Enspryng Not Good Enough In Phase III Myasthenia Gravis Study
Many companies have late-stage myasthenia gravis programs in Phase III, but argenx and its Vyvgart competitors won a reprieve with the failure of IL-6 inhibitor Enspryng (satralizumab).