Is Allergan’s Botox on the Block? Does this Explain Johnson & Johnson’s Decision to Dump PurTox?
April 24, 2014
Valeant Pharmaceuticals International Inc. made an unsolicited $47 billion bid for Botox-maker Allergan Inc. That seems odd, doesn’t it? Was it really unsolicited or was it strategic? This may explain why Johnson & Johnson’s Mentor dumped PurTox earlier last week and perhaps if you can’t beat them you buy them. As mentioned on this site, the PR Spin in that story didn’t make sense. Why pay over $1 billion to abandon the product? It’s also interesting timing with Johnson & Johnson’s Ethicon’s Gynecare Mesh problems used for overactive bladder and Botox getting the indication for the treatment of overactive bladder. Will Johnson & Johnson try and buy Botox use it like a Band-Aid on the bladder of their ailing image? Does this put Mentor on the block? Time will tell.
(Reuters) – Medical device maker Zimmer Holdings Inc said it would buy orthopedic products company Biomet Inc in a deal valued at about $13.35 billion to broaden its portfolio of products that treat bone and joint-related disorders. Zimmer shares jumped as much as 21.1 percent in premarket trade to $110.76.
Related: Valeant a Pawn?