Last Friday, the Biotech sector, represented by the Nasdaq Biotechnology index (NASDAQ: IBB), officially entered a correction phase, based on a 14% drop in valuations since July 20. That could put a damper on a sector that’s seen tremendous M&A activity in 2015, with 117 deals announced so far (vs. 136 total in 2014), and nearly $40 billion in spending (well up from the $21 billion spent in 2014). While the AbbVie‘s (NYSE: ABBV) $21 billion takeover of Pharmacyclics (NASDAQ: PCYC) has a lot to do with the large total, billion-dollar deals haven’t been uncommon. Take a look.
| Target | Acquirer | Price |
|---|---|---|
| Pharmacyclics | AbbVie | $21.0 billion |
| NPS Pharmaceuticals | Shire plc | $5.2 billion |
| Auspex Pharmaceuticals | Teva Pharmaceuticals | $3.2 billion |
| Therakos, Inc. | Mallinckrodt plc | $1.33 billion |
| Polypore's separations business | 3M Company | $1.0 billion |
| Source: The Health Care M&A Information Source |
