→ The generics business is continuing to consolidate. Bain and Cinzen have done a deal to acquire Germany’s Stada for $5.6 billion. The private equity groups are paying close to a 50% premium for the stock, if you compare it to the price these shares fetched before word of a possible takeover hit in December.
→ Jefferies downgraded AstraZeneca after determining that the company’s prospects have deteriorated. “We and consensus have been guilty of failing to reflect the impact of future revenue externalization and asset disposals on revenue and earnings per share growth,” said analyst Jeffrey Holford.
→ Shares of Mesoblast got a boost from word that its cell therapy for chronic heart failure had passed a futility review for its Phase III trial. Investigators have enrolled 270 out of a total of 600 patients. Shares were up 5% early on.
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