Pursuits
Pfizer Who? Health-Care Deals Bounce Back From Inversion Scare
- Deals announced range from pharma to biotech, medical devices
- More deals likely to come as financing remains cheap
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The $40 billion in new health-care deals announced Thursday shows there’s more to M&A than tax breaks.
Abbott Laboratories agreed to buy St. Jude Medical Inc., a maker of heart devices, for $25 billion, the company’s biggest ever acquisition. AbbVie Inc. agreed to buy closely held cancer drugmaker Stemcentrx for $5.8 billion. France’s Sanofi, in a bid to build up its pipeline of new treatments, made a $9.3 billion unsolicited offer for Medivation Inc.