NASH-Driven Deals Pile Up

On November 10, 2016, Bristol-Meyers Squibb (NYSE: BMY) purchased the exclusive worldwide rights to develop and commercialize Nitto Denko Corporation’s (TYO: 6988) investigational siRNA, which includes Nitto’s lead asset ND-L02-s0201. Nitto’s lead asset ND-L02-s0201 is currently in a five-week open-label Phase 1b study in patients with advanced fibrosis (F3-F4c) due to non-alcoholic steatohepatitis (NASH) or hepatitis C. Nitto Denko received a $100 million upfront payment as part of the license agreement, and it is not the first company to cash in on its product candidates for the possible treatment of NASH. NASH is characterized by fatty infiltration of the liver not caused by alcohol,... Read More »

Allergan Is Bullish on Biotech

Ever since Allergan (NYSE: AGN) completed the $40.5 billion sale of its generics business to Teva Pharmaceutical Industries (NYSE: TEVA) on August 2, the pharma giant is targeting biotech companies with a vengeance. In September alone (and we’re only talking about three weeks at this point), the company has announced four deals, totalling $1.28 billion. Year-to-date, Allergan has announced nine transactions for a total of $1.67 billion, more than Pfizer’s (NYSE: PFE) seven deals but far behind the $19.8 billion Pfizer committed to those transactions. (Pfizer’s biggest deal this year, the $13.5 billion acquisition of Medivation (NASDAQ: MDVN), was announced in August.)... Read More »

Allergan Adds Tobira to Its GI Pipeline

Allergan plc (NYSE: AGN) shows no signs of slowing its acquisition pace this year, and just solidified its lead in therapeutics for nonalcoholic steatohepatitis (NASH), an incurable disease affecting approximately 5% of the U.S. population. The pharma giant announced its acquisition of Tobira Therapeutics Inc. (NASDAQ: TBRA), This transaction marks the company’s eighth in 2016, and $1.63 billion spent in upfront payments alone since January. Tobira came with an upfront purchase price of $533.6 million, or $28.35 per share, and up to $49.84 per share in Contingent Value Rights that may be payable based on the successful completion of certain milestones, for a total consideration of up to... Read More »