Allergan Adds Kythera to Smooth Its Profile
Allergan plc (NYSE: AGN), formerly known as Actavis plc, wasted no time in acquiring another publicly traded company. Last week, Allergan picked up Kythera Biopharmaceuticals, Inc. (NASDAQ: KYTH) for $2.1 billion, payable 80% in cash and 20% in new AGN shares issued to KYTH shareholders. Kythera’s only marketed product is Kybella™, an injectable drug that is the first and only approved, non-surgical treatment for double chin. The acquisition is expected to be breakeven in 2016 and accretive thereafter. Actavis, er, Allergan remains committed to de-levering to below 3.5x debt to Adjusted EBITDA by the end of the first quarter of 2016. Read More »The Old Irish Shuffle Play
A bit of financial wheeling and dealing occurred last week, as Altan Pharma Limited, a privately held pharmaceutical company based in Dublin, Ireland, announced its acquisition of Madrid-based GES Group, which is comprised of GES Genéricos Españoles Laboratorio; Genfarma Laboratorio, S.L. and Biomendi, S.A.U. The price was €87.5 million ($98.3 million, approximately). What the announcement left out was that, on the same day, Dublin-based Malin plc invested €34.5 million ($38.9 million, approximately) to gain a 65% equity stake in Altan Pharma. While Altan is a central player to these transactions, it lacks a website, as well as a corporate address. But now it owns GES Group, which... Read More »Five Biggest Healthcare Deals in May 2015
The last week of May slowed to a crawl as far as announced health care transactions, but preliminary totals for deal volume and value indicate that May 2015 wasn’t too shabby. As of May 29, we counted 101 healthcare transactions, with a combined total of $32.4 billion. A year ago, there were 109 M&A announcements, for a total of $27.5 billion. We’ll go into detail in the June issue of Health Care M&A News, so watch for the publication announcement later this week. Read More »The Only Pharma Deal Announced Last Week
You know it’s a quiet week for healthcare M&A when only one pharmaceutical deal is announced. Last week, Tanner Pharmaceuticals, a portfolio company of Bourne Partners, paid an undisclosed sum for specialty pharma company BurnsAdler Pharmaceuticals. Both companies are based in Charlotte, North Carolina. The two have merged to form Tanner Pharma Group, which includes Tanner Clinical Trial Sourcing, Tanner Global Access Programmes, and Tanner Licensing, Acquisition and Commercialisation. Although the company is headquartered in the United States, it has offices in London, Sao Paulo and Mexico City. Read More »CVS Wins Omnicare Auction
Omnicare Inc. (NYSE: OCR) put itself on the market in April, with bids due in May. At the time, its market value was estimated to be about $8.5 billion. CVS Health Corp. (NYSE: CVS), Express Scripts Holding Co. (NASDAQ: ESRX), McKesson Corp. (NYSE: MCK) and Walgreens Boots Alliance Inc. (NASDAQ: WBA) were expected to kick the tires. Last week, CVS won the deal with $12.7 billion, including $2.3 billion in debt. Omnicare’s big draw is its specialty pharmaceutical business focused on assisted living and long-term care facilities. The deal follows UnitedHealth Group’s (NYSE: UNH) $12.8 billion acquisition of pharmacy benefits manager Catamaran Corp. (NASDAQ: CTRX) in March and Rite Aid... Read More »Schedule a demo
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