Health Sector Updates: Major Deals, Settlements, and Studies

This briefing includes recent events in the health sector: Masimo may sell its consumer business for up to $950 million; Eli Lilly acquires Morphic Holding for $3.2 billion; Roche reintroduces its Susvimo eye implant in the U.S.; Grifols' delisting talks; and several notable legal and regulatory updates.

Devdiscourse News Desk | Updated: 09-07-2024 10:32 IST | Created: 09-07-2024 10:32 IST
Health Sector Updates: Major Deals, Settlements, and Studies
AI Generated Representative Image

In a series of significant developments within the health sector, Masimo announced it is in discussions to potentially sell its consumer business for $850 million to $950 million. The news comes amid active talks about a joint venture with an unnamed partner.

Eli Lilly strengthens its inflammatory bowel disease drug portfolio by acquiring Morphic Holding for $3.2 billion. Shares of Morphic surged nearly 75% following the deal announcement, which offers $57 per share.

Roche's Genentech unit has re-launched its eye implant, Susvimo, in the U.S. after ending a voluntary recall. Approved in 2021, the device is set to be available to patients in the coming weeks.

The Grifols founding family and Canadian fund Brookfield are evaluating a potential takeover bid for the Spanish drugmaker, with plans to delist the company if successful.

Purdue Pharma's creditors have sought court approval to sue the Sackler family amid fresh bankruptcy settlement negotiations. The move follows a recent U.S. Supreme Court decision that disrupted a previous settlement deal.

In other news, a U.S. study finds Pfizer's RSV vaccine for pregnant women is not linked to higher risk of pre-term births, while the UK's competition regulator has cleared Thermo Fisher Scientific's $3.1 billion acquisition of Olink Holding.

A study on the U.S. bird flu strain affecting cows suggests minimal air transmission among ferrets, although some risk remains. Abbott faces trial over allegations that its preterm infant formula causes a dangerous bowel disease. Lastly, Johnson & Johnson has agreed to pay $50 million to settle a dispute over a terminated COVID-19 vaccine manufacturing deal with Emergent BioSolutions.

(With inputs from agencies.)

Give Feedback