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Illumina Acquires Cancer-Detection Company
Illumina (NASDAQ: ILMN) is making a big bet on the oncology market. The California-based company is acquiring GRAIL for $8 billion, consisting of $3.5 billion in cash and $4.5 billion in shares of Illumina common stock. GRAIL was founded by Illumina in 2016 and was spun out as a standalone company raising $2 billion. The company uses Illumina’s NGS technology to develop data science and machine learning and create the atlas of cancer signals in the blood, enabling multi-cancer early detection tests. Illumina had already owned 14.5% of GRAIL before the deal, and Illumina stockholders are expected to own approximately 93% of the combined company, while GRAIL stockholders are expected to own... Read More »
Gilead Bets $21 Billion on Oncology Market
Gilead Sciences, Inc. (NASDAQ: GILD) kicked off this week with a multi-billion acquisition of Immunomedics (NASDAQ: IMMU). The pharmaceutical giant reached an agreement to buy Immunomedics for $21 billion, or $88 per share, a 108% premium to Immunomedics’ closing price on September 11, 2020. Immunomedics generated trailing 12-month revenues of $20.37 million. The deal will be funded through approximately $15 billion in cash on hand, as well as approximately $6 billion in newly issued debt. Immunomedics is a leader in next-generation antibody-drug conjugate (ADC) technology focused on researching therapeutics for hard-to-treat cancers, and is most known for its product Trodelvy, an ADC... Read More »
Nestle Health Science Strikes New Multibillion Deal
Nestle Health Science, a global business unit of Nestle S.A. (SWX: NESN), has announced a takeover of California-based Aimmune Therapeutics, Inc. (NASDAQ: AIMT) valued at $2.6 billion. Aimmune Therapeutics is a biopharmaceutical company developing and commercializing oral treatments for potentially life-threatening food allergies. Nestle Health Science previously had a total investment in Aimmune of $473 million, an approximate 25.6% equity ownership stake, and will pay $34.50 per share in cash for the remainder, or a 174% premium to Aimmune’s closing share price on August 28 of $12.60. Aimmune reported a trailing 12-month revenue of $575,000. Nestle Health Science is acquiring... 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 »
AstraZeneca Strikes Another Collaboration with Daichi Sankyo
AstraZeneca plc (NYSE: AZN) has struck a new global development and commercialization agreement with Daiichi Sankyo Company (OTCMKTS: SKYF) that could be worth up to $6 billion. The agreement focuses on DS-1062, Daiichi Sankyo’s proprietary trophoblast cell-surface antigen 2 (TROP2)-directed antibody-drug conjugate (ADC), and potential new medicine for the treatment of multiple tumor types. AstraZeneca will pay $1 billion in staged payments over 24 months, and up to $5 billion for the successful achievement of regulatory approvals and sales-related milestones. The companies will jointly develop and commercialize DS-1062 worldwide, except in Japan where Daiichi Sankyo will maintain... Read More »Schedule a demo
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