Amgen Acquires Five Prime Therapeutics

Amgen Acquires Five Prime Therapeutics

by | Mar 9, 2021 8:00 am | Biotechnology | 0 comments

The biotech giant Amgen, Inc. (NASDAQ: AMGN) has announced a new deal for Five Prime Therapeutics (NASDAQ: FPRX), a clinical-stage biotechnology company focused on developing immuno-oncology and targeted cancer therapies. The company collaborates with leading global pharmaceutical companies and has therapies in pre-clinical and clinical development.  Amgen will acquire Five Prime Therapeutics for $38.00 per share in cash, representing an equity value of approximately $1.9 billion. The dollar-per-share amount is a 78% premium to Five Prime’s closing price on March 3, 2021. The transaction comes out to an estimated 232x Five Prime Therapeutics’ annualized revenues. However, the company... Read More »
Sobi Grows Product Portfolio With 2nd Deal

Sobi Grows Product Portfolio With 2nd Deal

by | Oct 7, 2019 2:08 pm | Pharmaceuticals | 0 comments

Swedish Orphan Biovitrum AB (STO: SOBI), an international specialty healthcare company dedicated to rare diseases, announced its acquisition of Dova Pharmaceuticals, Inc. for $867.7 million (65.3x revenue), or 27$ per share. Dova acquires, develops and commercializes drug candidates for diseases such as thrombocytopenia, a condition that leaves an individual with a low blood platelet count. Its primary candidate, Doptelet, is pending approval for the treatment of chemotherapy-induced thrombocytopenia (CIT). A CVR worth $1.50 per share will be granted if Doptelet is approved, totaling a potential $915 million. An indirect subsidiary of Sobi is acquiring Dove to bolster its hematology and... Read More »
August Deal Flow Ebbs, as It Follows the Annual Cycle

August Deal Flow Ebbs, as It Follows the Annual Cycle

by | Sep 9, 2019 1:49 pm | Healthcare Market Updates | 0 comments

Enough about slowdowns and recession. August is typically a roller-coaster month in the equity markets and August 2019 didn’t disappoint in that regard. The bond markets’ inverted yield curve persisted into September and that’s never a good sign. We’re moving on. Preliminary data show August’s deal volume wasn’t so bad, considering how most of 2019 has played out. The 125 deals announced in August represent a drop of 8% compared with the previous month’s 136 deals, and a 27% drop compared with August 2018. After a record-setting year in 2018, with more than 1,900 transactions and $333.3 billion on the books, a repeat would be nearly as scary as a sudden downturn (which may be coming,... Read More »

MCOs Make Deals to Combat High Drug Costs

by | Jun 15, 2017 4:06 pm | Managed Care, Pharmaceuticals | 0 comments

The rising cost of prescription drugs was part of many candidates’ campaign platforms in the 2016 national elections. The topic has not gone away, and is certainly a factor in the dearth of Big Pharma deals in 2017.  Through June 15, M&A in the Pharma sector is down 43%, to 44 transactions, compared with the same period in 2016, which had 77 transactions. Spending is also down in for the first six months of 2017. Through June 15, acquirers announced $19.2 billion in committed financing, down 66% from the same period in 2016, when approximately $56.5 billion was spent. There are deals being done, regarding this issue, but most are not M&A. In fact, several managed care... Read More »

Pfizer Buys Medivation and More

by | Aug 24, 2016 8:15 am | Pharmaceuticals | 0 comments

Forget those early- to mid-stage clinical candidates. Pfizer Inc. (NYSE: PFE) jumped the line with its $13.5 billion deal for oncology drug maker Medivation Inc. (NASDAQ: MDVN). The target’s primary product is XTANDI® (enzalutamide), an androgen receptor inhibitor, the leading novel hormone therapy for the treatment of prostate cancer. Pfizer will pay $81.50 per share in existing cash, a 21% premium to Medivation’s closing stock price on Friday, August 19, 2016. This deal ends months of bidding for Medivation, which began in April with Sanofi SA’s $52.50 per share (about $9 billion) offer. Medivation turned down the overture, and Sanofi eventually raised its bid to $58.50... Read More »