Enough about slowdowns and recession. August is typically a roller-coaster month in the equity markets and August 2019 didn’t disappoint in that regard. The bond markets’ inverted yield curve persisted into September and that’s never a good sign. We’re moving on. Preliminary data show August’s deal volume wasn’t so bad, considering how most of 2019 […]
The last round of Big Pharma mergers and acquisitions peaked in 2014 and ran out of steam in 2016. In 2014, the sector set a record of 188 deals (+25% yoy) and another record for spending, at $213.3 billion (+221% yoy). 2014 was the year Dublin-based Actavis plc (then NYSE: ACT) acquired Allergan, Inc. (NYSE: AGN) for […]
Merck & Co., Inc. (NYSE: MRK), the global healthcare and pharmaceutical company, has acquired Immune Design (NASDAQ: IMDZ) for $300 million. Merck will buy all outstanding shares of Immune Design at a value of $5.85 per share. With reported revenue of only $2 million, Immune Design’s price tag equals close to a 136x EBITDA multiple. Out of […]
Gilead Sciences, Inc. (NASDAQ: GILD) finally found a target worth pursuing. The pharmaceutical company, perhaps best known for its high-priced hepatitis-C drugs, Harvoni and Solvadi, placed its bets on Kite Pharma, Inc. (NASDAQ: KITE), hoping to cash in on the biotech’s promising technology for fighting cancer.