Drug companies and managed care organizations are working to keep prices from rising precipitously. Then there’s Pfizer.
Perrigo finally sold its royalty interest in Tysabri, a multiple sclerosis drug that it acquired as part of Elan Corporation back in 2013. Royalty Pharma, the hostile bidder for Elan back then, paid $2.2 billion for Tysabri royalties.
The pharmaceutical industry has largely given up on in-house research and development, saying that the R&D timeline is too costly, long and uncertain to fund with shareholders’ money. The industry has gone from bolt-on acquisitions of smaller companies with marketed products to battling it out for clinical-stage drug candidates. What’s surprised some industry observers is […]
After only four deals announced in 2014 and 2015, AbbVie (NYSE: ABBV) gained momentum in the M&A space this year in an effort to expand and diversify its portfolio. The timing isn’t a coincidence, since it faces the looming expiration of Humira’s patent in December. The drug that accounted for 63% of AbbVie’s 2014 sales […]
Health care companies are still attracting buyers, and those in the services sectors seem to be the hottest. Last month saw healthy deal volume, at 134 transactions. For a year that started slowly for health care mergers and acquisitions, March 2016’s deal volume is only 3% lower than the same month a year ago. Industry […]
Shire plc (NASDAQ: SHPG) is on a buying binge in 2015. After agreeing to be acquired by AbbVie (NYSE: ABBV) for $54.7 billion in July 2014, the deal fell apart in October following the Treasury Department’s revised ruling on foreign domiciles. Shire management turned around and acquired rare disease drug maker NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) in […]
In August, AbbVie (NYSE: ABBV) paid a record-setting $350 million to United Therapeutics Corp. (NASDAQ: UTHR) for its Rare Pediatric Disease Priority Review Voucher. The fast-track voucher was awarded by the FDA as part of its approval of Unituxin™ (dintuximab), for the treatment of neuroblastoma. On Sept. 8, the FDA cleared Wellstat Therapeutics‘ Xuriden (uridine […]
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 […]
March isn’t quite over as we write this, and neither is the madness—which won’t stop us from posting the biggest deals of the month. As of Friday, March 27, $34.4 billion has been committed to finance about 105 transactions. Of course, $21 billion of that comes from the AbbVie (NYSE: ABBV) acquisition of Pharmacyclics (NASDAQ: […]
Already in 2015, we’ve recorded 11 billion-dollar-plus deals, for a total of $64.4 billion. Thanks to the $21 billion AbbVie (NYSE: ABBV) bid for Pharmacyclics (NASDAQ: PCYC), the biotechnology sector accounted for $27.5 billion of those big deals. Pharmaceuticals, with four billion-plus transactions, still ranks first, with combined spending of $30.45 billion.