Healthcare

Rentokil’s margins keep on shrinking

30 Nov 2004

A quick turnaround for the troubled UK services conglomerate was never on the cards. But the announced disposal of its linens business and increased investment mean the company is on the right track.

Healthcare IPOs face varied receptions

23 Jun 2004

The successful float of Czech generic drug company Zentiva shows investors have some appetite for growth. But while IPOs of stable companies such as Biomerieux should get a warm reception, signs are higherrisk biotechs won t.

US hostile deal offers arb opportunity

28 May 2004

At first glance, Omnicare looks like it will struggle to clinch the $1.3bn takeover of rival Neighborcare. But look again, the omens and both firms' rising stock prices suggest there is a deal to be done and money to be made.

Nestle slightly loosens L’Oreal impasse

4 Feb 2004

Nestle now has a direct stake in L Oreal, rather than a minority position in the parent and no longer risks having to buy the whole group. But the only way something could move in the shortterm is if there was a bid for L Oreal. And that doesn t look terribly likely.

Smith & Nephew offers £1.5bn for Centerpulse

20 Mar 2003

There is strategic logic to combining the orthopaedics groups. They need scale economies to fund research and development. The tiny premium offered may suggest the UK group has got a bargain. A returns analysis suggests otherwise.

The time may be ripe for a takeover of Centerpulse, says David Reilly.

15 Nov 2002

Heard in Europe: Nobel Biocare’s hopes for stock price bolster

7 Oct 2002

Heard in Europe: Smith & Nephew nixes hopes for merger

2 Aug 2002

Uppity barbarians

18 Jul 2002

Heard in Europe: Bloodletting at Centerpulse

17 Jul 2002

Drugs rush

7 Aug 2000