Business briefs: Elan and Valeant

Share this article:

After fending off a Royalty Pharma takeover, Dublin-based Elan Pharmaceuticals is being purchased by Michigan-based Perrigo for $8.6 billion. The move gets consumer drug maker Perrigo -- whose portfolio includes store-brand OTC drugs, nutritionals and a narrow list of prescription medications -- into biotechs, adding royalties on MS drug Tysabri, which Elan discovered and sold to Biogen Idec earlier this year, and as-yet experimental drugs for Alzheimer's and diabetes.

Valeant's corporate integration is in the works, and the latest news is that it plans to slash 10%-15% of its headcount, or, as FiercePharma calculates, 2,700 jobs. Valeant has been on an acquisition binge of sorts, purchasing dermatology firm Medicis in 2012, Obagi in April 2013 and Bausch & Lomb this past May. The company says it has mapped out its integration plan and expects that new efficiencies will save the company $500 million this year and $300 million next year. The reorg includes changing the way Bausch & Lomb is set up and expanding job descriptions and responsibilities for those who stay behind. “We take pride in our frugality...and our willingness to wear different hats at different times,” the company wrote in an SEC filing. Valeant says it will keep the Bausch & Lomb brand in tact.

Share this article:
You must be a registered member of MMM to post a comment.

Email Newsletters

MM&M Future Leaders

Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 


Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Business Briefs

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies

Kantar acquires Evidências, expands Brazilian presence

The company's acquisition signals the growing importance of understanding the Brazilian healthcare market and evidence-based healthcare management services.

Study says statins not enough for diabetic hearts

Researchers using an experimental test have discovered that the 50% of surveyed diabetics may also have undetected heart muscle damage.