Lilly paid $140m up front for an option to acquire Radionetics for $1bn within an undisclosed timeframe. The private firm is developing small molecule GPCR-targeted radiopharmaceuticals.

Reiterating the strength of its M&A-heavy strategy, Valeant CEO Michael Pearson touted the company's deal record during its second quarter earnings call.

With major consumer product divisions potentially in play, analysts take a look at possible buyers and sellers in the OTC space. Switches and consumer business expansion plans are also likely to shape 2014.

With major consumer product divisions potentially in play, analysts take a look at possible buyers and sellers in the OTC space. Switches and consumer business expansion plans are also likely to shape 2014.