Another Priority Review Voucher Sold
In August, AbbVie (NYSE: ABBV) paid a record-setting $350 million to United Therapeutics Corp. (NASDAQ: UTHR) for its Rare Pediatric Disease Priority Review Voucher. The fast-track voucher was awarded by the FDA as part of its approval of Unituxin™ (dintuximab), for the treatment of neuroblastoma. On Sept. 8, the FDA cleared Wellstat Therapeutics’ Xuriden (uridine triacetate) for the treatment of hereditary orotic aciduria, a rare, potentially fatal genetic disorder. It also granted a Rare Pediatric Disease Priority Review Voucher to the privately held Wellstat. That voucher was immediately sold to AstraZeneca (NYSE: AZN) as part of an agreement made in September 2014. Financial... Read More »Valeant Pharmaceuticals Keeps Buying
Valeant Pharmaceuticals International (NYSE: VRX) couldn’t keep its checkbook closed last week. On September 1, Valeant obtained the exclusive license to develop and commercialize brodalumab, a psoriasis drug candidate, from AstraZeneca (NYSE: AZN) for $100 million. Valeant will hold the exclusive rights to develop and commercialize brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co., Ltd. under a prior arrangement with Amgen Inc. (NASDAQ: AMGN), the originator of brodalumab. A day later, the company announced its acquisition of Synergetics USA, Inc. (NASDAQ: SURG), a medical device company specializing in surgical... Read More »Big Generic Drug Deal for Lannett
The month of September got off to a busy start, with more than 32 acquisitions announced in just the first week. The biggest deal, by disclosed price, was Lannett Company’s (NYSE: LCI) $1.23 billion bid for Kremers Urban Pharmaceuticals, a subsidiary of UCB S.A. (Euronext: UCB). The deal adds near-term growth potential for LCI, with 11 product applications pending at the FDA, five of which include Paragraph IV certifications. Lannett believes the acquisition will be accretive to adjusted EPS in fiscal 2016 in the mid- to high-single digits and 20% to 25% in fiscal 2017. Lannett expects to receive a significant tax benefit as a result of 338(h)(10) election with a value in excess of... Read More »InSite Vision Sees a Better Offer
Back in June, InSite Vision Inc. (OTCBB: INSV), which focuses on specialty ophthalmic products for diseases of the eye, agreed to be acquired by QLT Inc. (NASDAQ: QLTI) in an all-stock transaction. QLT shareholders would own about 89% of the combined company, which would retain the QLT name and be incorporated in Canada, thanks to QLT’s base in Vancouver, British Columbia. Last week, however, InSite informed QLT that a “multi-national pharmaceutical company” had made an unsolicited bid of $0.25 per share of INSV, which the target decided was a better offer than QLT made. QLT now has to match the proposed price, or terminate the agreement. Our bets are on Valeant Pharmaceuticals (NYSE:... Read More »Deal Volume Rose in July
July’s combined transaction total hit 127 deals, up 2% compared with the bang-up month of July 2014, which had 124 transactions. The Services sector had a strong performance, accounting for 60% of deal volume. Long-Term Care made up 27% of the volume overall with 34 announced transactions. That equalled the record set last July for the sector, and will probably break it as more deals come to light. The Managed Care sector posted some extra activity, although seven deals versus two deals the month prior and a year ago isn’t moving the needle very high. July 2015 DealsShare of Total Services Behavioral Health Care32% Home Health & Hospice23% Hospitals76% Labs, MRI & Dialysis43%... Read More »Schedule a demo
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