Eli Lilly Acquires Loxo Oncology in its Largest Deal Yet
Eli Lilly and Company (NYSE: LLY) hit the new year running when it announced the acquisition of Loxo Oncology, Inc. (NASDAQ: LOXO), a biopharmaceutical company that develops medicines for genomically defined cancers. Under the terms of the deal, Lilly will acquire all outstanding shares of Loxo for $235.00 per share, or $8 billion. The offer represents a premium of approximately 68% to Loxo’s closing stock price on January 4, 2019. On a trailing 12-month basis, Loxo reported revenue of $144.8 million, for a multiple of nearly 55.3x. This marks the company’s largest acquisition, by price, since 2008, when the Indianapolis-based drug maker paid $6.5 billion, or 10.4x revenue, for... Read More »
Bristol-Myers Squibb Surprises with Celgene Deal
Twas a week before the J.P. Morgan Healthcare Summit, and everything was quiet on the life sciences front. December deal-making hit a wall, with pharmaceutical deals falling 50% compared with last December. Then came Bristol-Myers Squibb’s (NYSE: BMY) announcement it was acquiring Celgene Corporation (NASDAQ: CELG) for approximately $90 billion. This isn’t the biggest pharma or healthcare deal ever, however. The title goes to Pfizer Inc. (NYSE: PFE), for both the largest deal consummated ($114 billion for Warner-Lambert Company in November 1999) and the largest deal to be called off ($160 billion for Allergan plc in November 2015). Those facts make this the third largest... Read More »
2018’s Biggest Healthcare Deals by Sector
2018 isn’t quite in the rearview mirror yet. We’re still scouring the news feeds for straggling deal announcements, and that never stops, honestly. With approximately 1,850 deals reported so far for 2018, healthcare deal volume is 14% more than 2017. Before we nail the numbers down, it’s easy to spot the biggest deals (by disclosed price) in each of the 13 healthcare sectors we follow. Most should be familiar names, but you can’t follow every sector. That’s why we’re here. Enjoy. Read More »
Biotechnology and Digital Health Deals Lead for December
Although December is typically one of the slower months in transaction announcements, the eHealth and Biotechnology sectors remained the most active with a total of 27 transactions, growing in proportion compared to December 2017. Biotechnology and e-Health transactions were roughly 19% of all of December 2017’s deals, but they were 28% this December. However, price volume tells a different story. Compared to December 2017, the total of disclosed prices saw an 84% decrease in the Biotechnology sector, going from $2.66 billion to only $425 million. In the e-Health sector, however, there was a 1,285% increase in purchase amount, going from $88.8 million in December 2017 to $1.23... Read More »
10x Genomics Expands Biotechnology Business
10x Genomics, a California-based genetics company that develops integrated systems and solutions for genome sequencing, purchased Swedish biotech company Spatial Transcriptomics for an undisclosed amount in December, its second deal of 2018. Spatial Transcriptomics, headquartered in Stockholm, is a major player in the field of spatial genomics and RNA sequencing. Its technology aims to understand how cells interact in relation to another, which aids the research for fields like oncology, neurology, and immunology. That deal comes after 10x Genomics’ purchase of Epinomics, an epigenomics company that operates software platforms that research and analyze DNA data sequences for the biotech... Read More »Schedule a demo
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