Three Large Biotech Transactions Announced
On Monday, January 8, there was a flurry of activity in the Biotechnology sector. Three large, publicly-traded companies announced acquisitions in the space, representing the third, fourth and fifth Biotechnology transaction of 2024, respectively. Last year, there were 155 Biotechnology deals announced, according to data captured in the LevinPro HC database. Merck acquires Harpoon Therapeutics: Merck announced the acquisition of Harpoon Therapeutics through a subsidiary for an approximate total equity value of $680 million. Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T-cell engagers designed to harness the power of the body’s immune... Read More »
JNJ Announces Multibillion-Dollar Takeover of Momenta
Johnson & Johnson (NYSE: JNJ) made a splash in the healthcare M&A market last week with its acquisition of Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA). The global pharmaceutical giant announced on August 19 it is paying $6.5 billion in cash, or $52.50 per share, for Momenta, a 70.4% premium over Momenta’s August 18 closing price. Momenta reported a trailing 12-month revenue of $30.07 million. On the day of the announcement, Momenta’s share price jumped 69%. This acquisition provides an opportunity for the Janssen Pharmaceutical Companies of JNJ to broaden its market reach in immune-mediated diseases and drive further growth through expansion into autoantibody-driven... Read More »
Robotics Firm Acquired by Siemens Healthineers
After a nearly two-year hiatus, the diagnostic and therapeutic imaging giant Siemens Healthineers AG (XETRA: SHL.DE) has agreed to purchase Corindus Vascular Robotics, Inc. (NYSE: CVRS) for $1.1 billion, at a price of $4.28 per share. Corindus is a global leader in robotic-assisted vascular interventions. Its CorPath platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. On a trailing 12-month basis, Cordindus reported approximately $12.3 million in revenue. Siemens plans to combine its high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform to improve treatment for... Read More »