Bausch Health Buys Bankrupt Synergy Pharmaceuticals

Bausch Health Buys Bankrupt Synergy Pharmaceuticals

by | Mar 1, 2019 12:28 pm | Pharmaceuticals | 0 comments

Bausch Health Companies Inc. (NYSE: BHC) is back on the acquisition trail. It’s recent target is Synergy Pharmaceuticals Inc., (NASDAQ: SGYP), a New York City-based biopharma focused on novel gastrointestinal (GI) therapies. Its flagship product, Trulance (plecanatide) is a once-daily tablet approved for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation. Synergy filed for reoganization under Chapter 11 of the U.S. Bankruptcy Code on December 12, 2018 in the Southern District of New York. Bausch was designated the stalking-horse bidder with its offer of approximately $200 million plus certain assumed liabilities. The auction scheduled for... Read More »
Takeda Takes Aim at Shire

Takeda Takes Aim at Shire

by | Apr 20, 2018 12:28 pm | Pharmaceuticals | 0 comments

Big Pharma deals are making a comeback. Or so it seems from the speculation around Shire plc (NASDAQ: SHPG). Japanese drug maker Takeda Pharmaceutical Co. (OTCQB: TKPYY) has been buzzing around the UK-based Shire for nearly a month, making bid after bid. It seemed to begin on April 16, when Shire sold its oncology business to the French drug maker Servier, for $2.4 billion in cash. In 2017, the 0ncology business generated revenues of $262 million. The total consideration represents a revenue multiple of 9.2x 2017 revenues. The acquisition gives Servier a direct commercial presence in the United States and boosts its presence in cancer. Servier’s products will be commercialized in the... Read More »
Stat of the Week: Healthcare M&A Spending up 18% in 2017

Stat of the Week: Healthcare M&A Spending up 18% in 2017

by | Dec 18, 2017 5:10 pm | Home Health & Hospice, Managed Care, Pharmaceuticals | 0 comments

The year hasn’t ended, and there are still two weeks to go in the fourth quarter of 2017. The holidays are already under way, with more on the horizon. Before we get too busy, here’s a quick look at where things stand in mid-December. Total healthcare mergers and acquisitions reached 1,467 deals as of December 14. That’s only 7% lower than the combined total for all of 2016, at 1,574 deals. Spending on these transactions is already higher. This year’s dollar volume currently stands at approximately $303.9 billion, up 18% compared with last year’s total of $256.7 billion. Much of the credit for the spending rise goes to the largest single transaction announced... Read More »

PE Firms Line Up for Pharmaceutical Targets

by | Aug 24, 2017 8:01 pm | Pharmaceuticals, Private Equity | 0 comments

Although pharmaceutical M&A has declined sharply over the past year, there has been an uptick in financial buyer activity in the sector in the first eight months of 2017. We don’t typically see a lot of financial buyers in this space, since they are easily outbid by strategic buyers that have the advantage of easy access to capital and cost synergies. Also, private equity buyers have been flocking to acquire “healthcare-lite” targets, such as eHealth or contract research organizations, in the past 12 months, largely to avoid potential regulatory and reimbursement roadblocks that come with a new administration. Pharmaceutical M&A is down 65% (only 55 deals) compared with the 156... Read More »