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 »Pfizer Sells Hospira’s Infusion Therapy Business
Way back in February 2015, Pfizer Inc. (NYSE: PFE) agreed to pay $17 billion to acquire Hospira, Inc., a global provider of injectable drugs and infusion technologies. In early October 2016, Pfizer agreed to sell Hospira’s infusion therapy business to ICU Medical Inc. (NASDAQ: ICUI) for $1 billion in cash and stock. The company develops, manufactures and sells medical devices used in infusion therapy, oncology and critical care applications. Pfizer will receive approximately $400 million in newly issued shares of ICU Medical common stock and $600 million in cash from ICU, for a total purchase price of approximately $1 billion. Upon completion, Pfizer will own approximately 16.6% of... 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 »Horizon Pharma Buys Raptor
For the week ending September 16, 2016, a combined $1.01 billion was spent on three pharmaceutical deals, one of which is also the largest pharmaceutical deal so far in September. Horizon Pharma plc (NASDAQ: HZNP), which develops, acquires and commercializes medicines for the treatment of arthritis, pain, inflammatory and/or orphan diseases, acquired Raptor Pharmaceuticals Corp. (NASDAQ: RPTP) for approximately $800 million, or $9.00 per share. Raptor focuses on developing and commercializing transformative treatments for people affected by rare and debilitating diseases. The transaction gives Horizon global rights to PROCYSBI® delayed-release capsules, used to treat nephropathic... Read More »Schedule a demo
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