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Catalent to buy Juniper in $139.6M deal; US Democrats probing drug distributors

Top news

* Somerset, N.J.-based Catalent Inc. agreed to acquire all outstanding shares of Boston-based Juniper Pharmaceuticals Inc. for $11.50 per share in cash. The acquisition, which includes Juniper's U.K.-based pharma services division, represents a total equity value of about $139.6 million on a fully diluted basis.

* Democratic Sens. Elizabeth Warren of Massachusetts and Tina Smith of Minnesota are probing recent claims by U.S. Department of Health and Human Services Secretary Alex Azar that drugmakers want to make "substantial and material" price reductions but are being thwarted by middlemen seeking higher rebates.

On the policy front

* While a U.S. federal court had blocked Kentucky from implementing its work requirement for the Medicaid, other states such as Arkansas, New Hampshire and Indiana will go ahead with their plans to implement Medicaid work requirements, Kaiser Health News reported.

* The U.S. Food and Drug Administration is planning to boost its workforce by filling vacancies quickly and offering higher salaries as 40% of its senior executives reach retirement age in 2019, Endpoints News reported, citing an FDA report to Congress.

M&A and capital markets

* Swiss drugmaker Roche Holding AG began a tender offer to acquire all outstanding shares of Foundation Medicine Inc. for $137 per share in cash.

* The Recordati family's holding company said the bid of €28 per share for its majority stake in Recordati SpA already includes any dividend that may be paid the group of investment funds controlled by private equity firm CVC Capital Partners Ltd., which agreed to buy the family's stake.

* South San Francisco, Calif.-based pharmaceutical company Tricida Inc. closed its $19-per-share IPO to raise about $255.6 million in gross proceeds.

* Neuronetics Inc., a Malvern, Pa.-based medical technology company, closed its IPO to raise gross proceeds of $107.5 million.

* Entera Bio Ltd., an Israeli biopharmaceutical company with products in human testing, closed its IPO of 1.4 million units for gross proceeds of $11.2 million.

Operational activity

* H. Lundbeck A/S appointed Deborah Dunsire president and CEO of the Danish drugmaker, effective Sept. 1. Dunsire has been president and CEO of XTuit Pharmaceuticals Inc., a privately held company, since 2017.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng fell 1.41% to 28,545.57, while the Nikkei 225 dropped 0.12% to 21,785.54.

In Europe, around midday, the FTSE 100 climbed 0.58% to 7,591.56, and the Euronext 100 gained 0.93% to 1,045.47.

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