Allergan Gets Over Pfizer Breakup Fast
Allergan plc (NYSE: AGN) didn’t let any grass grow under its feet once the breakup with Pfizer Inc. (NYSE: PFE) was official, at 6:45 am ET on April 6th. At 7:30 pm ET the same day, Allergan announced it will partner with Heptares Therapeutics, a wholly owned subisidiary of Sosei Group Corporation (TSE: 4565), to get the exclusive global rights to a broad portfolio of drug candidates targeting major neurological disorders, including Alzheimer’s disease. Heptares receives $125 million upfront, and is eligible to receive contingent milestone payments of up to approximately $665 million associated with the successful Phase 1, 2 and 3 clinical development and laund of the first... Read More »The End of Big Spending in Health Care M&A
No one says, “Follow the synergy.” It’s always the money that matters. So when we heard the U.S. Treasury Department had issued new, more onerous rules on tax inversions on April 4, it was just a matter of time before Pfizer (NYSE: PFE) called off its historic $160 billion takeover of Allergan (NYSE: AGN). And here we are, on April 6, 2016. Now that Pfizer and Allergan have called off their merger, which would have re-domiciled Pfizer in Ireland, we must rework some deal totals. 2015 was a superlative year for health care mergers and acquisitions, thanks in part to this transaction. Yesterday, the annual spending tally was approximately $557 billion across 13 sectors.... Read More »Sun Pharma Buys into Japanese Drug Market
Sun Pharmaceutical Industries Ltd. (BSE: 524715) last week paid $293 million for 14 “established prescription” drug brands currently being marketed by Novartis AG (NYSE: NVS) in Japan. Under terms of the agreement, Novartis will continue to distribute these unidentified brands for a certain period, pending transfer of all marketing authorizations to Sun Pharma’s subsidiary. The acquired brands will then be marketed by an established marketing partner under the Sun Pharma label. This transaction expands Sun’s footprint in Japan’s $73 billion pharmaceutical market. Read More »AbbVie Gets Ahead of the Bad News Curve
On March 11, Sanofi (NYSE: SNY) and Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) announced that an experimental rheumatoid arthritis therapy (salrilumab) helped patients more than AbbVie Inc.’s (NYSE: ABBV) Humira in a late-stage trial. But AbbVie already had a new deal in place, a collaboration with Boehringer Ingelheim, that was announced on March 7. Under terms of the agreement, AbbVie will make an initial upfront payment of $595 million to BI, which will be eligible to receive additional development and regulatory milestone payments and royalties on net sales of any drugs developed from this collaboration. At the center of the deal is BI 655066, an anti-IL-23 antibody now in Phase 3... Read More »Leap Day Boosts February Deal Volume
It’s Leap Year, which means February was a day longer in 2016. This year, that extra day marked the announcement of seven healthcare transactions, which raised the month’s total to a healthy 113 deals. The services sectors were more active than usual, and accounted for 65% of the total. Usually, the services side makes up about 55% to 60%. Dollar volume was healthy, too, at $27.7 billion. But given the records set in 2015, February’s dollar total ended up 35% below the same month a year ago. The deals may be getting smaller, but they’re still being made. Read More »Schedule a demo
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