List of largest pharmaceutical mergers and acquisitions

Last updated

The following table lists the largest mergers and acquisitions in the pharmaceutical and biotechnology industry (those over $10 billion). Transactions are recorded by the highest transaction dollar value (rather than using the inflation adjusted values).

Contents

Largest mergers and acquisitions

This list is incomplete, you can help by expanding it

RYearPurchaserTargetTransaction type [1] Value — with debt
(in billions USD)
Value — with debt
(adjusted for inflation)
Ref
11999 Flag of the United States.svg Pfizer Flag of the United States.svg Warner-Lambert Acquisition111.8204 [2]
22000 Flag of the United Kingdom.svg Glaxo Wellcome plc Flag of the United Kingdom.svg SmithKline Beecham Merger (formed GlaxoSmithKline)76.0134
32019 Flag of the United States.svg Bristol-Myers Squibb Flag of the United States.svg Celgene Acquisition74.0 — 95.088113 [3]
32004 Flag of France.svg Sanofi Flag of France.svg Aventis Acquisition73.5104
42015 Flag of Ireland.svg Actavis Flag of the United States.svg Allergan, Inc Acquisition70.591 [4] [5] [6]
52009 Flag of the United States.svg Pfizer Flag of the United States.svg Wyeth Acquisition68.097
62002 Flag of the United States.svg Pfizer Flag of the United Kingdom.svg Pharmacia Acquisition64.3109 [7]
72018 Flag of Japan.svg Takeda Pharmaceutical Flag of Ireland.svg Shire Acquisition62.075 [8]
82016 Flag of Germany.svg Bayer Flag of the United States.svg Monsanto Acquisition54.5 — 63.56981
92009 Flag of the United States.svg Merck & Co. Flag of the United States.svg Schering-Plough Acquisition47.167 [9]
102009 Flag of Switzerland (Pantone).svg Roche Flag of the United States.svg Genentech Acquisition44.062
112014 Flag of Ireland.svg Medtronic Flag of Ireland.svg Covidien Acquisition42.354
122015 Flag of Israel.svg Teva Pharmaceutical Industries Flag of the United States.svg Actavis Business Unit40.552
132010 Flag of Switzerland (Pantone).svg Novartis Flag of the United States.svg Alcon Acquisition39.355
142016 Flag of Ireland.svg Shire Flag of the United States.svg Baxalta Acquisition Unit32.0 — 35.04144
152016 Flag of the United States.svg Abbott Laboratories Flag of the United States.svg St Jude Medical Acquisition30.539
161998 Flag of Sweden.svg Astra AB Flag of the United Kingdom.svg Zeneca Merger (formed AstraZeneca)30.457
172017 Flag of the United States.svg Johnson & Johnson Flag of Switzerland (Pantone).svg Actelion Acquisition30.037
181996 Flag of Switzerland (Pantone).svg Ciba-Geigy Flag of Switzerland (Pantone).svg Sandoz Merger (formed Novartis)29.056
192006 Flag of the United States.svg Boston Scientific
Flag of the United States.svg Abbott Laboratories
Flag of the United States.svg Guidant Acquisition27.241
201999 Flag of the United Kingdom.svg Pharmacia & Upjohn Flag of the United States.svg Monsanto Merger25.246
212016 Flag of the United States.svg Abbott Laboratories Flag of the United States.svg St Jude Medical Acquisition25.0 — 30.53239
222015 Flag of the United States.svg AbbVie Flag of the United States.svg Pharmacyclics Acquisition21.027
232014 Flag of Ireland.svg Actavis Flag of the United States.svg Forest Laboratories Acquisition20.727
242011 Flag of France.svg Sanofi Flag of the United States.svg Genzyme Corporation Acquisition20.127
252012 Flag of the United States.svg Johnson & Johnson Flag of Switzerland (Pantone).svg Synthes Acquisition19.726
262006 Flag of Germany.svg Bayer Flag of Germany.svg Schering Acquisition18.428
272016 Flag of the United States.svg Quintiles Flag of the United States.svg IMS Health Merger (formed QuintilesIMS)17.622
282015 Flag of the United States.svg Pfizer Flag of the United States.svg Hospira Acquisition17.022
292014 Flag of Germany.svg Merck Group Flag of the United States.svg Sigma-Aldrich Acquisition17.022
302001 Flag of the United States.svg Amgen Flag of the United States.svg Immunex Acquisition16.829
312006 Flag of the United States.svg Johnson & Johnson Flag of the United States.svg Pfizer Consumer Health Business Unit16.625
322014 Flag of Switzerland (Pantone).svg Novartis Flag of the United Kingdom.svg GlaxoSmithKline Oncology Business Unit16.021
332015 Flag of the United States.svg Valeant Flag of the United States.svg Salix Pharmaceuticals Acquisition15.820
342007 Flag of the United Kingdom.svg AstraZeneca Flag of the United States.svg MedImmune Acquisition14.722
352007 Flag of the United States.svg Schering Plough Flag of the United States.svg Organon International Acquisition14.521
361995 Flag of the United Kingdom.svg Glaxo Flag of the United Kingdom.svg Wellcome Acquisition14.228
372014 Flag of Germany.svg Bayer Flag of the United States.svg Merck & Co Consumer Health Business Unit14.218
382014 Flag of the United States.svg Zimmer Inc. Flag of the United States.svg Biomet Inc. Acquisition13.417
392019 Flag of the United States.svg Amgen Flag of the United States.svg Otezla (drug programme)Acquisition13.416
402006 Flag of Germany.svg Merck Group Flag of Switzerland (Pantone).svg Serono Acquisition13.220
412018 Flag of the United Kingdom.svg GlaxoSmithKline Flag of the United Kingdom.svg Flag of Switzerland (Pantone).svg GlaxoSmithKline–Novartis Consumer Healthcare Acquisition13.016
422016 Flag of Germany.svg Boehringer Ingelheim Flag of France.svg Sanofi Animal Health (Merial)Business Unit12.416
432017 Flag of the United States.svg Gilead Sciences Flag of the United States.svg Kite Pharma Acquisition11.915
442018 Flag of France.svg Sanofi Flag of the United States.svg Bioverativ Acquisition11.614
452011 Flag of the United States.svg Gilead Sciences Flag of the United States.svg Pharmasset Acquisition11.215
462013 Flag of the United States.svg Amgen Flag of the United States.svg Onyx Pharmaceuticals Acquisition10.414
472020 Flag of the United States.svg AbbVie Flag of the United States.svg Allergan Acquisition63.074
482024 Flag of Denmark.svg Novo Holdings A/S Flag of the United States.svg Catalent Acquisition16.517 [10] [11]

Failed mergers and acquisitions

RankYearPurchaserTargetValue
(in billions USD)
Value
(adjusted for inflation)
12015 Flag of the United States.svg Pfizer Flag of Ireland.svg Allergan, plc 160206In November 2015 Pfizer announced it would acquire Allergan, plc for $160 billion ($206 billion, adjusted for inflation). However, this deal was cancelled in April 2016 due to new US tax inversion rules. [12] [13] Had this transaction been completed, this would have been the largest within this industry.
22014 Flag of the United States.svg Pfizer Flag of the United Kingdom.svg Flag of Sweden.svg Astra Zeneca 123158Significant concerns were raised by the UK Government over job security, in the end leading to a deal being abandoned due to resistance from the AstraZeneca Board. [14]
32014 Flag of the United States.svg Pfizer Flag of the United Kingdom.svg Flag of Sweden.svg Astra Zeneca 106137AstraZeneca claimed the deal undervalued the company. [15]
42014 Flag of the United States.svg Pfizer Flag of the United Kingdom.svg Flag of Sweden.svg Astra Zeneca 99127AstraZeneca claimed the deal undervalued the company. [16]
51999 Flag of the United States.svg Pfizer Flag of the United States.svg Warner–Lambert 82.4151Pfizer made a hostile bid, just after the announcement of a $72 billion deal with Wyeth, the eventual purchase price would be in excess of $90 billion. [17] [18] [19]
61999 Flag of the United States.svg Wyeth Flag of the United States.svg Warner–Lambert 72132Wyeth confirmed it has agreed a $200 billion deal with Warner–Lambert, causing Pfizer to make a hostile bid, just after the announcement. [17] [18] [19]
71999 Flag of the United States.svg Wyeth Flag of the United States.svg Warner–Lambert 65119The two companies discussed a potential merger, uniting two of the largest pharmaceutical companies. This was eventually thwarted by Pfizer, in order to maintain control of the blockbuster drug - Lipitor. [20] [21]
82016 Flag of Germany.svg Bayer AG Flag of the United States.svg Monsanto Company Inc. 6583Bayer advanced talks with Monsanto's management and subsequently raised its off by $3 billion, to more than $65 billion - which represented a 2 percent increase on its previous offer. The eventual purchase price would be more than $66 billion. [22] [23]
92018 Flag of Japan.svg Takeda Pharmaceutical Flag of Ireland.svg Shire 62.576Third bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalue the company, its growth prospects as well as pipeline. [24]
102016 Flag of Germany.svg Bayer AG Flag of the United States.svg Monsanto Company Inc. 6279Bayer initially opened negotiations with an offer of $125 per Monsanto share, however management felt this undervalued the company. [22]
112018 Flag of Japan.svg Takeda Pharmaceutical Flag of Ireland.svg Shire 6174Second bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalue the company, its growth prospects as well as pipeline. [24]
122018 Flag of Japan.svg Takeda Pharmaceutical Flag of Ireland.svg Shire 58.271First bid, unanimously rejected by the Shire Board, who concluded that it significantly undervalue the company, its growth prospects as well as pipeline. [24]
132014 Flag of Canada (Pantone).svg Valeant Pharmaceuticals Flag of Ireland.svg Allergan, Inc 5470Valeant had pursued Botox-maker Allergan for six months. After a protracted court battle with Valeant, Bill Ackman and his Pershing Square Capital Management hedgefund on one side (which then owned 10% of Allergan) and Allergan on the other, Actavis entered the fray with a $66 billion white knight bid. [25]
142014 Flag of the United States.svg AbbVie Flag of Ireland.svg Shire Pharmaceuticals 5470The two companies had agreed to a $54 billion deal that would allow AbbVie to move its headquarters overseas to Europe, reducing their corporate tax rate. However, the U.S. Treasury passed laws, tightening down on tax inversion deals just before the merger was completed, making the agreement much less profitable for AbbVie.[ citation needed ]
152014 Flag of Canada (Pantone).svg Valeant Pharmaceuticals Flag of Ireland.svg Allergan, Inc 53.369Valeant raised its unsolicited offer for Allergan a second time, to $53.3 billion, increasing the cash portion of the bid in an effort to win the backing of the company, with the cash-and-stock portion of the bid valuing each Allergan share at $179.25. [26]
162014 Flag of Canada (Pantone).svg Valeant Pharmaceuticals Flag of Ireland.svg Allergan, Inc 49.464Valeant raised its unsolicited offer for Allergan Inc. to $49.4 billion, adding more cash to the bid in an effort to win backing from Allergan and its investors, with the value of each share rising to $166.16 per Allergan share. [27]
172015 Flag of the United States.svg Monsanto Company Inc. Flag of Switzerland (Pantone).svg Syngenta AG 4760Monsanto dropped its hostile bid for Syngenta, refocusing on its five-year plan to double earnings and avoid a backlash from large shareholders. [28] Subsequently, Bayer offered to purchase Monsanto, with ChemChina offering to acquire Syngenta.
182014 Flag of the United States.svg Monsanto Company Inc. Flag of Switzerland (Pantone).svg Syngenta AG 4558Syngenta rejecteded another unsolicited offer from Monsanto, worth $45 billion, with management saying it undervalued the company and a merger would carry significant risks. Monsanto offered to acquire the company at a price of 449 Swiss francs per Syngenta share, with approximately 45% of the price paid in cash. [29] [30]
192014 Flag of Canada (Pantone).svg Valeant Pharmaceuticals Flag of Ireland.svg Allergan, Inc 4558Valeant Pharmaceuticals and activist investor Bill Ackman offered to buy Botox maker Allergan, proposing a cash-and-stock deal worth about $152.89. [31]
202014 Flag of the United States.svg Monsanto Company Inc. Flag of Switzerland (Pantone).svg Syngenta AG 4051Monsanto weighed $40 billion unsolicited bid for Swiss rival, Syngenta aiming to avoid US corporation taxes. Monsanto and Syngenta held preliminary talks with both sets of advisers in the preceding few months, with talks centered on a combination. However, Syngenta's management decided against negotiations. [32]
212015 Flag of Israel.svg Teva Pharmaceutical Industries Flag of the Netherlands.svg Mylan 4051In April, Teva offered to acquire Mylan for $40 billion, [33] only a fortnight after Mylan offered to acquire Perrigo for $29 billion. [34] Teva's offer for Mylan is contingent on Mylan abandoning its acquisition of Perrigo. [35] Mylan stated in June 2015 that Teva's disclosure that it had a 1.35 percent stake in Mylan violated US anti-trust rules.
222015 Flag of the Netherlands.svg Mylan Flag of Ireland.svg Perrigo 2633In order for the hostile takeover to go through successfully, Mylan needed 50% of Perrigos shares to be tendered under the deal. However, only 40% or 58 million shares were tendered and the hostile takeover fell through. [36]
232004 Flag of the United States.svg Johnson & Johnson Flag of the United States.svg Guidant 25.441Johnson & Johnson announced that it was acquiring Guidant on December 15, 2004, for $76 a share, with the deal being approved later approved on April 27, 2005, by Guidant shareholders. However, on May 25 of the same year, Guidant reported 26 cases of implantable defibrillator failure, including a death. Johnson & Johnson announced the possibility of them pulling out from the deal, Guidant then sued Johnson & Johnson in an attempt to enforce the acquisition. However they later re-negotiated a lower price of $21.5 billion.
242006 Flag of the United States.svg Boston Scientific Flag of the United States.svg Guidant 25.038A day after Johnson & Johnson raised their price for Guidant to $23.2 billion, Boston Scientific announced a further increased offer.
252005 Flag of the United States.svg Boston Scientific Flag of the United States.svg Guidant 24.638With the lower re-negotiated a lower price of $21.5 billion between Johnson & Johnson and Guidant, Boston Scientific announced an unsolicited offer of $24.6 billion for Guidant (an offer of $72 per share of Guidant, $36 in cash and a fixed number of Boston Scientific shares valued at $36 a share).
262006 Flag of the United States.svg Johnson & Johnson Flag of the United States.svg Guidant 24.237After Boston Scientific increased their offer to $25 billion, Johnson & Johnson further increased their offer to $24.2 billion.
272006 Flag of the United States.svg Johnson & Johnson Flag of the United States.svg Guidant 23.235After the re-negotiated a lower price of $21.5 billion was trumped by Boston Scientifics offer of $24.6 billion, Johnson & Johnson raised their offer to $23.2 billion.
282015 Flag of Ireland.svg Endo International Flag of the United States.svg Salix Pharmaceuticals 11.214Endo withdrew its $11.2 billion cash & stock offer for Salix, ending its plans to outbid Valeant Pharmaceuticals International for the company. [37]

See also

Related Research Articles

<span class="mw-page-title-main">Pfizer</span> American multinational pharmaceutical and biotechnology corporation

Pfizer Inc. is an American multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan, New York City. The company was established in 1849 in New York by two German entrepreneurs, Charles Pfizer (1824–1906) and his cousin Charles F. Erhart (1821–1891).

An epinephrine autoinjector is a medical device for injecting a measured dose or doses of epinephrine (adrenaline) by means of autoinjector technology. It is most often used for the treatment of anaphylaxis. The first epinephrine autoinjector was brought to market in 1983.

Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France. The corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo. In 2004, Sanofi-Synthélabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. It changed its name back to Sanofi in May 2011. The company is a component of the Euro Stoxx 50 stock market index. In 2023, the company’s seat in Forbes Global 2000 was 89.

Shire plc was a UK-founded Jersey-registered specialty biopharmaceutical company. Originating in the United Kingdom with an operational base in the United States, its brands and products included Vyvanse, Lialda, and Adderall XR. Shire was acquired by Takeda Pharmaceutical Company on 8 January 2019.

Bausch Health Companies Inc. is an American-Canadian multinational specialty pharmaceutical company based in Laval, Quebec, Canada. It develops, manufactures and markets pharmaceutical products and branded generic drugs, primarily for skin diseases, gastrointestinal disorders, eye health and neurology. Bausch Health owns Bausch & Lomb, a supplier of eye health products. Bausch Health's business model is primarily focused on acquiring small pharmaceutical companies and then sharply increasing the prices of the drugs these companies sell.

Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UK and a "Global Center" in Canonsburg, Pennsylvania, US.

<span class="mw-page-title-main">Perrigo</span> Irish tax-registered pharmaceutical

Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters in Grand Rapids, Michigan, within Michigan State University's Grand Rapids Innovation Park.

<span class="mw-page-title-main">Allergan, Inc.</span> Former American conglomerate

Allergan, Inc. was an American global pharmaceutical company focused on eye care, neurosciences, medical dermatology, medical aesthetics, breast enhancement, obesity intervention and urologics. Allergan, Inc. was formed in 1948, incorporated in 1950 and became a public company in 1970. It ceased operation in 2015 when it was acquired by Irish-based Actavis plc, who then renamed the group as Allergan plc.

<span class="mw-page-title-main">Teva Pharmaceuticals</span> Israeli pharmaceutical company

Teva Pharmaceutical Industries Ltd. is an Israeli multinational pharmaceutical company. Teva specializes primarily in generic drugs, but other business interests include branded-drugs, active pharmaceutical ingredients (API's) and, to a lesser extent, contract manufacturing services and an out-licensing platform.

<span class="mw-page-title-main">Actavis</span> Global pharmaceutical company

Actavis Generics is a global pharmaceutical company focused on acquiring, developing, manufacturing and marketing branded pharmaceuticals, generic and over-the-counter medicines, and biologic products. Actavis has a commercial presence across approximately 100 countries. The company has global headquarters in Dublin, Ireland and administrative headquarters in Parsippany-Troy Hills, New Jersey, United States.

Endo International plc is an American Irish-domiciled generics and specialty branded pharmaceutical company that generated over 93% of its 2017 sales from the U.S. healthcare system. While Endo's management, operations, and customers are almost exclusively U.S.–based, in 2013 Endo executed a corporate tax inversion to Ireland to avoid U.S. corporate taxes on their U.S. drug sales, and to avail of Ireland's corporate tax system.

<span class="mw-page-title-main">Medicis Pharmaceutical</span> Medical cosmetics company

Medicis Pharmaceutical is a medical cosmetics company based in Bridgewater, New Jersey. It is a subsidiary of Valeant Pharmaceuticals, which acquired the company in 2012. Medicis is known for products such as Solodyn and Ziana for treating acne, and for Restylane and Dysport for treating facial wrinkles.

SUGEN (Sugen) was a drug discovery company focused on development of protein kinase inhibitors. It was founded in 1991, and shut down in 2003, after pioneering protein kinases as therapeutic targets and developing the successful cancer therapy sunitinib (Sutent).

David Edmund Ian Pyott CBE was the CEO of Allergan, a pharmaceutical company from 1998 to 2015, when Allergan was acquired by Actavis. In 2014 he was one of the 25 highest-paid CEOs in the United States.

<span class="mw-page-title-main">Greenhill & Co.</span> American investment bank

Greenhill & Co., Inc. is an American investment banking advisory firm founded in 1996 by Robert F. Greenhill. The firm provides advice on significant mergers, acquisitions, restructurings, financings, and capital raisings to leading corporations, partnerships, institutions and governments across a number of industries. Since its inception, Greenhill has advised on transactions valued at close to $3 trillion.

Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. The company is the maker of Botox.

Alvogen is an Icelandic pharmaceutical company founded in 2009. In 2014, a controlling stake in the company was acquired by CVC Capital Partners and Temasek Holdings. Alvogen has about 350 different medical and non-medical products, and both produces its own products and markets the products of brand name pharmaceutical companies.

Brent Saunders is an American biopharma executive and entrepreneur who is the chairman and CEO of the health company Bausch & Lomb. He helped lead various mergers and acquisitions, including the mergers between Merck and Schering-Plough, the acquisition of Bausch + Lomb by Valeant Pharmaceuticals, and the $63 billion acquisition of Allergan by Abbvie. He is the founder of special-purpose acquisition company (SPAC) Vesper Healthcare Acquisition. Saunders is also executive chairman of medical aesthetics companies The Beauty Health Company and Hugel America.

References

  1. "FirstWord Lists The 20 largest pharma M&A deals".
  2. "Pfizer, W-L strike deal". CNN. 7 February 2000. Retrieved 6 January 2019.
  3. Bristol-Myers set $2.2 billion termination fee for their mega deal [ dead link ]
  4. "Allergan Accelerates Transformation to Branded Growth Pharma Leader by Divesting Global Generics Business to Teva for $40.5 Billion". Allergan. 27 July 2015. Retrieved 27 November 2015.
  5. Koons, Cynthia (27 July 2015). "Teva CEO: $40.5 Billion Allergan Deal is Just the Beginning". Bloomberg. Retrieved 27 November 2015.
  6. Somayaji, Chitra (27 July 2015). "Teva Snaps Up Allergan's Generics Arm, Dumping Mylan". Bloomberg. Retrieved 27 November 2015.
  7. Antoine Gara. "Pfizer And Allergan Merger Ranks As Biggest-Ever Pharmaceutical Deal". Forbes.
  8. "Japan's Takeda clinches £45.3 billion Shire deal as pharma M&A rolls on". May 9, 2018. Archived from the original on December 8, 2018 via uk.reuters.com.
  9. "FirstWord Lists – The 20 largest pharma M&Adeals".
  10. Gilbert, Daniel (2024-02-05). "Novo Nordisk buys manufacturing power as it seeks to ramp up Wegovy". The Washington Post.
  11. Constantino, Annika Kim (2024-02-05). "Novo Nordisk parent to buy Catalent for $16.5 billion to expand Wegovy supply". CNBC.
  12. "Pfizer Ends $160B Acquisition of Allergan after U.S. Crackdown on Inversions". GEN.
  13. "Pfizer, Allergan Agree to End $160 Billion Deal". Bloomberg.com. 6 April 2016.
  14. "M&A Boom Implodes, US Deal Failures in 2016 Worst Ever". 7 April 2016.
  15. Farrell, Sean; Mason, Rowena (19 May 2014). "AstraZeneca rejects Pfizer's final £69bn takeover bid" via The Guardian.
  16. "Pfizer chases AstraZeneca for potential $100 billion deal". 28 April 2017 via Reuters.
  17. 1 2 "Warner-Lambert rejects Pfizer's bid - Nov. 4, 1999".
  18. 1 2 "Pfizer Makes Bid for Warner-Lambert (washingtonpost.com)". The Washington Post .
  19. 1 2 "WARNER-LAMBERT GETS PFIZER OFFER FOR $82.4 BILLION". The New York Times. 5 November 1999.
  20. "Warner Lambert. - Pfizer: One of the world's premier biopharmaceutical companies".
  21. Langreth, Robert; Lipin, Steven (3 November 1999). "American Home Products Discusses A Merger With Warner-Lambert" via www.wsj.com.
  22. 1 2 "Bayer sweetens Monsanto bid as talks enter final stretch". September 6, 2016 via www.reuters.com.
  23. "Bayer confirms $66bn Monsanto takeover". September 14, 2016 via www.bbc.co.uk.
  24. 1 2 3 "Statement re Proposal from Takeda Pharmaceutical Company Limited". www.shire.com.
  25. "Allergan agrees to $66 billion Actavis offer; Valeant walks". 17 November 2016 via Reuters.
  26. "Valeant Raises Takeover Offer for Allergan a Second Time". 31 May 2014 via www.bloomberg.com.
  27. "Valeant Raises Takeover Offer for Allergan With More Cash". 28 May 2014 via www.bloomberg.com.
  28. Gara, Antoine. "Monsanto Drops $46.5B Bid For Syngenta, Paving Way For Stock Buyback Amid Market Rout". Forbes .
  29. Minkoff, Yoel (May 8, 2015). "Syngenta rejects Monsanto's takeover approach". Seeking Alpha.
  30. Surran, Carl (May 7, 2015). "Reuters: Monsanto, Syngenta hire U.S. banks to advise on possible takeover". Seeking Alpha.
  31. "Valeant, Bill Ackman bid $45B for Botox-maker Allergan".
  32. "Monsanto Said to Have Weighed $40 Billion Syngenta Deal". www.bloomberg.com. 24 June 2014. Retrieved 6 January 2019.
  33. "Teva Offers to Buy Mylan for $40B". GEN News Highlights. Genetic Engineering & Biotechnology News . April 21, 2015. Retrieved April 21, 2015.
  34. "Mylan Offers $28.9B for Perrigo". GEN News Highlights. Genetic Engineering & Biotechnology News . April 8, 2015. Retrieved April 21, 2015.
  35. "Teva Offers to Buy Mylan in $40.1B Cash-And-Stock Deal". Pharmaceutical Processing . Associated Press. April 21, 2015. Retrieved April 21, 2015.
  36. "Mylan's Hostile Bid for Perrigo Fails".
  37. "Endo Ends Effort to Wrest Merger-Bound Salix from Valeant - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".