Thursday, 3 September 2015
RARE Alert: Concordia Healthcare Corp said to be on the verge of a major deal
A juicy piece of RARE has just turned up.
I understand Canadian pharmaceutical company Concordia Healthcare Corp is closing in on a sizeable takeover deal.
Indeed, I have been told the Concordia transaction could be announced soon, possibly as early as the next few days.
However, unfortunately I have no idea which company Concordia - which is listed in Toronto and also on the US Nasdaq index - is in talks with.
Still, it's an interesting piece of scuttlebutt for those market watchers enthralled by the recent wave of dealmaking in the US/global/UK pharmaceutical sector.
According to its website, Concordia does several things, such as purchasing legacy healthcare products from other pharma companies, research and development for rare diseases and selling diabetic supplies, including diabetic shoes, inserts and insulin pumps.
Although Concordia declined to comment when I asked the company about the rumour, I would say this is information is RARE. For readers unfamiliar with RARE, here is the definition:
Market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville.