Health News Roundup: Exclusive-Warburg and Advent in the lead to acquire Baxter's biopharma unit-sources; Exelixis, facing challenge from Farallon, says Willsey to exit board

Warburg Pincus and Advent have submitted the most attractive offer to Baxter in an auction that drew interest from other private equity firms as well as major players in the biomedical sector such as Thermo Fisher Scientific Inc, the sources said. Exelixis, facing challenge from Farallon, says Willsey to exit board Biotechnology company Exelixis said on Sunday that Lance Willsey was leaving its board and that it would not contest the election of a dissident director candidate amid a proxy battle with investor Farallon Capital Management.

Following is a summary of current health news briefs.

Exclusive-Warburg and Advent in the lead to acquire Baxter's biopharma unit-sources

A private equity consortium comprising Warburg Pincus and Advent International is in advanced talks to acquire medical device maker Baxter International Inc's biopharma solutions business in a deal that could reach or exceed $4 billion, people familiar with the matter said on Sunday. Warburg Pincus and Advent have submitted the most attractive offer to Baxter in an auction that drew interest from other private equity firms as well as major players in the biomedical sector such as Thermo Fisher Scientific Inc, the sources said.

Exelixis, facing challenge from Farallon, says Willsey to exit board

Biotechnology company Exelixis said on Sunday that Lance Willsey was leaving its board and that it would not contest the election of a dissident director candidate amid a proxy battle with investor Farallon Capital Management. "The board supports Dr. Willsey's decision, which will end the need for Farallon to continue its proxy campaign," Exelixis, which develops cancer therapies, said in a statement late on Sunday.