Healthcare Business Recap: Watson’s Activis Deal, Threshold Wins FDA Agreement
Watson Pharmaceuticals (NYSE:WPI) should close its $5.9 billion acquisition of its Swiss peer Actavis by early next month after it received FTC permission for the deal on Monday, having already gained European Commission authorization earlier in October. Through the terms of the approval, Watson must divest 14 generic drugs to Par Pharmaceutical Companies (NYSE:PRX), along with four to Sandoz.
Stryker Corporation (NYSE:SYK) will purchase the privately-held Israeli company Surpass Medical for $100 million and as much as an additional $35 million in milestone payments. The latter develops stent tech that utilizes a mesh design and delivery system for the redirection of blood flow away a brain aneurysm, thus permitting a stable clot to form.
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Shares of Threshold Pharmaceuticals (NASDAQ:THLD) spiked and fell back following an FDA agreement for the Phase III trial of TH-302 for the treatment of pancreatic cancer. The study will be conducted by Germany’s Merck, which is Threshold’s partner in the development of the drug.