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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 »Allergan Eyes Clinical-Stage Ocular Drugs
Allergan plc (NYSE: AGN) just purchased privately-held RetroSense Therapeutics LLC for $60 million in an all-cash transaction, with potential regulatory and commercialization milestone payments. Based in Ann Arbor Michigan, RetroSense is a clinical-stage biotechnology company focused on novel gene therapy approaches to restore vision in those suffering from blindness. Its lead development program, RST-001, is a novel gene therapy for the potential treatment of Retinitis Pigmentosa (RP). The acquisition gives Allergan global rights to RetroSense’s lead product candidate, RST-001. In 2014, RST-001 received Orphan Drug Designation by the U.S. FDA for the treatment of Retinitis... Read More »Danaher Doubles Down on Blood Diagnostics
Danaher Corporation (NASDAQ: DHR) has set a new direction for itself, after spinning off its Test & Measurement segment, Industrial Technologies segment and its Retail/Commercial Petroleum platform into Fortive Corporation (NYSE: FTV) on July 2. Post-separation, the company is positioned as a global science and technology innovator with more than 20 operating companies in the health care, environmental and industrial industries. In September, Danaher announced its acquisition of Cepheid (NASDAQ: CPHD ) for $3.9 billion, or $53.00 per share. The consideration represents approximately a 54% percent premium to Cepheid’s common stock over the closing price of $34.42 on September 2,... Read More »Big Pharma Pays Big for Biotech Pipelines
The pharmaceutical industry has largely given up on in-house research and development, saying that the R&D timeline is too costly, long and uncertain to fund with shareholders’ money. The industry has gone from bolt-on acquisitions of smaller companies with marketed products to battling it out for clinical-stage drug candidates. What’s surprised some industry observers is that these acquirers are now targeting early-stage and even pre-clinical drug candidates, to boost their own production pipelines, but as a way to stymie the competition, too. Pharmaceutical mergers and acquisitions hit a peak in 2014, with 188 deals (up 25% year-over-year) and $213.3 billion in spending (up 220%... Read More »Schedule a demo
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