Deal of the Week: Celgene/Impact
Biotechnology deals are off to a strong start in 2018, thanks to the Biotech Showcase 2018 held every year alongside the J.P. Morgan Healthcare Conference. In the first two weeks, 16 transactions were made public. This year, the Showcase registration desk was just getting into full swing on Sunday, January 7, when Celgene Corp. (NASDAQ: CELG) announced its $1.1 billion acquisition of Impact Biomedicines, a privately held biotech based in San Diego. The draw is Impact’s lead product candidate, fedratinib, a highly selective JAK2 kinase inhibitor that is being evaluated for myelofibrosis and polycythemia vera. Fedratinib was evaluated in 877 patients across 18 clinical trials. In a... Read More »Q1:17 Biotechnology Deals Keep Climbing
Biotechnology deal activity has climbed steadily over the past five quarters. The sector reached 62 transactions in Q1:17, an increase of 13% over the previous quarter and up 94% year-over-year. The total is 31% of the 203 deals announced in the previous 12 months. M&A in this sector will remain active for years to come, as pharmaceutical companies that have abandoned their own R&D turn to buying up smaller biotechs with promising clinical-stage compounds. The 21st Century Cures Act also benefits this sector, with its billions of dollars in financing for both the “Cancer Moonshot” and the BRAIN Initiative. In the first quarter, 20 of the 62 transactions involved the purchase of an... Read More »Pfizer Buys Medivation and More
Forget those early- to mid-stage clinical candidates. Pfizer Inc. (NYSE: PFE) jumped the line with its $13.5 billion deal for oncology drug maker Medivation Inc. (NASDAQ: MDVN). The target’s primary product is XTANDI® (enzalutamide), an androgen receptor inhibitor, the leading novel hormone therapy for the treatment of prostate cancer. Pfizer will pay $81.50 per share in existing cash, a 21% premium to Medivation’s closing stock price on Friday, August 19, 2016. This deal ends months of bidding for Medivation, which began in April with Sanofi SA’s $52.50 per share (about $9 billion) offer. Medivation turned down the overture, and Sanofi eventually raised its bid to $58.50... Read More »Health Care M&A Exploded in July
The fireworks didn’t end on the Fourth of July, at least for the health care M&A market. Preliminary data shows deal volume rose 16% to 121 deals, compared with June’s 104 deals. Thanks to the mega-deals among health insurers and generic drug makers, deal value was approximately $166.6 billion, up 883% over June’s $16.9 billion. A full report will be published in the August issue of Health Care M&A News. Top 5 Health Care M&A Deals in July 2015 AcquirerTargetPrice Anthem, Inc. Cigna Corporation$54.2 billion Teva PharmaceuticalsAllergan Generics$40.5 billion AetnaHumana Inc. $37.0 billion Celgene CorporationReceptos, Inc. $7.2 billion Centene CorporationHealth Net, Inc. $6.8... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
