Biotech Deal Volume Increases 58% in Q3:16
Overall, mergers and acquisitions slowed in Q3:16, down 11% compared with Q2:16, and 10% lower than in Q3:15. The biotechnology sector saw just the opposite phenomenon. Biotech transactions grew by 58%, to 52 deals, compared with the previous quarter’s 33 deals, and by 24% compared with the same quarter in 2015, when 42 deals were announced. Not all deals in this sector involve the purchase of an entire company, however. Just 42% of the third-quarter transactions fit that description. The remaining 58% deals involved the purchase of exclusive rights and licenses to products, product candidates or intellectual property from a biotech firm. Pharmaceutical companies have pulled back (or... Read More »Q3:16 Health Care M&A Results: Context Is Everything
Brace yourself. The third quarter results for health care mergers and acquisitions signal a hard tap on the brakes, both in deal volume and value. That’s compared with the robust second quarter, and the same quarter a year ago. Before we go any further, though, we must note that, compared with all previous third quarters stretching back to 2000, the third quarter of 2016 doesn’t look that bad. Some 369 transactions are now on the books for Q3:16, which ranks this quarter as the second-highest in deal volume for any previous third quarter. The top-ranked third quarter, coincidently, came a year ago, when Q3:15 racked up 411 transactions. So Q3:16’s deal volume slid 10% compared with the... Read More »AstraZeneca Sheds Assets After its Trial Failure
AstraZeneca (NYSE: AZN) has been on the receiving end of three different purchases in the first five days of October, selling licenses to three of its non-core assets for a combined upfront payment of $450 million. Its selling spree occurred in tandem with the announced trial failure of its blood thinner Brilinta (ticagrelor), which failed to show any benefit over the standard medication for the treatment of peripheral artery disease (PAD). According to Reuters, the trial failure forced the company to abandon a $3.5 billion-a-year sales target for the drug by 2023. On October 3rd, AstraZeneca’s biologics arm, MedImmune, agreed to license the worldwide rights to Allergan plc (NYSE:... Read More »Allergan Is Bullish on Biotech
Ever since Allergan (NYSE: AGN) completed the $40.5 billion sale of its generics business to Teva Pharmaceutical Industries (NYSE: TEVA) on August 2, the pharma giant is targeting biotech companies with a vengeance. In September alone (and we’re only talking about three weeks at this point), the company has announced four deals, totalling $1.28 billion. Year-to-date, Allergan has announced nine transactions for a total of $1.67 billion, more than Pfizer’s (NYSE: PFE) seven deals but far behind the $19.8 billion Pfizer committed to those transactions. (Pfizer’s biggest deal this year, the $13.5 billion acquisition of Medivation (NASDAQ: MDVN), was announced in August.)... Read More »Allergan Adds Tobira to Its GI Pipeline
Allergan plc (NYSE: AGN) shows no signs of slowing its acquisition pace this year, and just solidified its lead in therapeutics for nonalcoholic steatohepatitis (NASH), an incurable disease affecting approximately 5% of the U.S. population. The pharma giant announced its acquisition of Tobira Therapeutics Inc. (NASDAQ: TBRA), This transaction marks the company’s eighth in 2016, and $1.63 billion spent in upfront payments alone since January. Tobira came with an upfront purchase price of $533.6 million, or $28.35 per share, and up to $49.84 per share in Contingent Value Rights that may be payable based on the successful completion of certain milestones, for a total consideration of up to... Read More »Schedule a demo
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