August Deal Flow Ebbs, as It Follows the Annual Cycle

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 […]

Big Pharma Deals Aren’t Back, Despite Allergan Deal

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 […]

Envy Medical Purchased by Allergan

Allergan plc (NYSE: AGN) acquired Envy Medical, Inc. this week in an effort to bolster its medical aesthetics portfolio. Envy Medical develops, markets, and sells non-invasive skin rejuvenation therapies for patients suffering from dermatologic or aesthetic conditions. Terms of the deal were not disclosed. The deal will also give Allergan a key product out of Envy Medical’s portfolio, Dermalinfusion. […]

gene-editing
gene-editing

Bristol-Myers Squibb Surprises with Celgene Deal

Twas a week before the J.P. Morgan Healthcare Summit, and everything was quiet on the life sciences front. December deal-making hit a wall, with pharmaceutical deals falling 50% compared with last December. Then came Bristol-Myers Squibb‘s (NYSE: BMY) announcement it was acquiring Celgene Corporation (NASDAQ: CELG) for approximately $90 billion. This isn’t the biggest pharma […]

Allergan Doubles Down on Aesthetics

September 14 was a big day for Allergan plc‘s (NYSE: AGN) medical aesthetics business. The company announced its acquisition of Bonti, Inc., a privately held clinical-stage biotech that develops novel, fast-acting neurotoxin programs for aesthetic and therapeutic applications. Later that same day, Allergan hosted a Medical Aesthetics Day in New York, at which its chief […]

Dermatology Drug Portfolios Trade Hands

Dermatology physician practics are all the rage among private equity groups these days. Thirty deals targeting this specialty have been announced in the first seven months of 2018. All have been acquired by a private equity firm or one of their platform companies. But in the first week of August, two international pharmaceutical companies acquired […]

Test tubes filled with money
Test tubes filled with money

Takeda Takes Aim at Shire

Big Pharma deals are making a comeback. Or so it seems from the speculation around Shire plc (NASDAQ: SHPG). Japanese drug maker Takeda Pharmaceutical Co. (OTCQB: TKPYY) has been buzzing around the UK-based Shire for nearly a month, making bid after bid. It seemed to begin on April 16, when Shire sold its oncology business to […]

Sobi
Sobi

Deal(s) of the Week: Teva, Take Two

Debt has been a key deal driver this year, particularly in the hospital sector, where Community Health Systems (NYSE: CYH), Quorum Health Corporation (NYSE: QHC) and Tenet Healthcare (NYSE: THC) are shedding less desirable assets. Joining them now is generic drug maker Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), which is shouldering $35 billion of debt […]

Teva Begins to Pare Its Portfolio

Last week, Teva Pharmaceutical Industries Ltd. (NYSE: TVA) divested more than $1.1 billion of assets in response to increasing financial pressure. Just this August, Credit Suisse lowered its rating on Teva’s stock from neutral to underperform, citing industry-wide pricing pressure for generic drugs. Credit Suisse’s announcement follows Teva’s acquisition of Allergan’s (NYSE: AGN) generic division, […]

MCOs Make Deals to Combat High Drug Costs

Drug companies and managed care organizations are working to keep prices from rising precipitously. Then there’s Pfizer.