LSIPR Newsletter 04:14


Ranbaxy’s outstanding shares, will become Sun Pharma’s second-largest shareholder.


News of the merger comes just months aſter Ranbaxy was hit by another import ban from the US due to concerns about one of its Indian manufacturing plants.


Sun Pharma’s managing director Dilip Shanghvi said about the merger: “In high-growth emerging markets, Ranbaxy provides a strong platform which is highly complementary to Sun Pharma’s strengths.


“We see tremendous growth opportunities and are excited with the prospects to create lasting value for our shareholders through a successful combination of our franchises.”


Arun Sawhney, managing director and chief executive of Ranbaxy, said: “We believe this


transaction brings significant value to all Ranbaxy shareholders. Sun Pharma has a proven track record of creating significant long-term shareholder value and successfully integrating acquisitions into its growing portfolio of assets.


“We are confident that Sun Pharma is the ideal partner to help us realise our full potential and are excited to participate in future value creation opportunities,” he added.


As LSIPR went to press the transaction was still subject to approval by Sun Pharma and Ranbaxy shareholders, and the Indian government. It was expected to close by the end of 2014. n


Novartis and GSK in $14.5bn IP exchange BASEL, SWITZERLAND


Novartis and GSK have agreed to create a consumer healthcare business in a joint venture that involves the exchange of assets worth billions of dollars.


Te deal combines Switzerland-based Novartis’s OTC unit with GSK’s Consumer Healthcare division.


As part of the agreement, Novartis will acquire GSK’s oncology products for $14.5 billion, then a further $1.5 billion depending on meeting a development milestone.


It would also have opt-in rights to GSK’s oncology R&D pipeline.


Novartis will also divest its vaccine business, with the exception of flu, to GSK for $7.1 billion plus royalties. Novartis has started a separate sales process for its flu vaccine business.


Novartis said on April 22 that it will divest its Animal Health division to Lilly in a separate transaction, allowing it to focus its portfolio on innovative pharmaceuticals, eye care and generics.


Te chief executive of Novartis, Joseph Jimenez, said: “We believe the divestment of our smaller vaccines and Animal Health divisions will enable us to realise immediate value from these businesses for our shareholders, and those divisions will benefit from being part of large, global businesses that are also leaders in their segments.


IN BRIEF


Mintz Levin adds three in Boston


Law firm Mintz Levin Cohn Ferris Glovsky and Popeo PC has added three partners to its IP team. William Geary, Lisa Adams and Christina Sperry have joined the firm’s Boston office.


Formerly partners at Nutter McClennen & Fish LLP, they bring experience in medical technology, healthcare and life sciences.


Geary prepares and prosecutes patent applications, with an emphasis in the fields of medical devices, polymers and advanced materials and chemicals.


Adams handles patentability evaluations as well as preparation and prosecution of patent applications while Sperry focuses on domestic and international patent preparation and prosecution, as well as infringement, validity and right-to-use opinions.


IP group joins O’Melveny’s New York office


US law firm O’Melveny & Myers LLP has hired Lisa Barons Pensabene, Marc Pensabene, and Filko Prugo at its New York office.


The three join as partners and will work in the firm’s IP and technology practice. Barons Pensabene will also head the firm’s life sciences litigation practice.


Novartis and GSK join forces


“Patients will benefit from even higher levels of innovation that this focus may afford. Looking ahead, this positions Novartis well for future healthcare industry dynamics.”


Andrew Witty, chief executive of GSK, said that the Novartis OTC portfolio is “highly complementary to GSK’s”. He added: “Opportunities to build greater scale and combine high quality assets in vaccines and consumer healthcare are scarce.” n


www.lifesciencesipreview.com


Barons Pensabene and Prugo represent innovator pharmaceutical companies in Hatch-Waxman cases, and bring a combined 40 years of experience to the firm.


Bradley Butwin, who chairs the firm, said: “Lisa, Marc and Filko—all first- chair patent trial lawyers—give us the ability to serve a host of clients, ranging from biotechnology and pharmaceutical companies to computer hardware and software companies in ANDA and traditional patent litigation.”


NEWS 5


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