Derived from Current Agreements, the M&A scorecard gives an instant overview of the top M&A deals in the life sciences by year since 2010.
The following article (available to CP Insight subscribers) contains a snapshot of the largest deals by value for the year.
Our Current Agreements database stores and categorizes deal data dating as far back as 2000 saving you valuable time on your deal making research activities.
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Top M&A deals of 2014 valued at over US$500m.
|AstraZeneca, Pfizer||Apr 2014||106000||Acquisition agreement for AstraZeneca (terminated)|| |
19 May 2014
The Board of AstraZeneca notes the announcement by Pfizer of its final proposal, comprising £24.76 in cash (45%) and 1.747 Pfizer shares (55%) per AstraZeneca share, representing a value of £55.00 per AstraZeneca share (based on the closing price of Pfizer shares on 16 May 2014).
This proposal undervalues the Company and its attractive prospects and has been rejected by the Board of AstraZeneca.
Pfizer's letter did not provide detail about other key aspects of its proposal, several of which are of importance to the Board’s evaluation.
The Board of AstraZeneca met on 17 May 2014 and concluded that the financial terms of the Friday Proposal substantially undervalued the Company and its attractive prospects. Accordingly, the Friday Proposal was rejected.
18 May 2014
Pfizer announces its final proposal to combine the two companies.
This is the fourth proposal Pfizer has made and Pfizer believes that this final proposal provides a clear basis for AstraZeneca to extend the period for making a firm offer under the Code and to meaningfully engage with Pfizer.
On 16 May 2014, Pfizer sent a letter to the Chairman of AstraZeneca setting forth the terms and basis of an improved proposal with an indicative value of £53.50, comprising 1.845 shares in the combined entity and 2,157 pence per AstraZeneca share.
In response, AstraZeneca indicated that its board believes that Pfizer's £53.50 proposal substantially undervalues the company.
During discussions earlier today, AstraZeneca made clear that it is not currently prepared to accept a price close to Pfizer’s £53.50 proposal.
An edited copy of the 16 May letter will be filed with the SEC and is attached as an Appendix to this announcement.
Pfizer confirms that it will not make a hostile offer directly to AstraZeneca shareholders and will only proceed with an offer with the recommendation of the board of directors of AstraZeneca6.
2 May 2014
Revised offer: AstraZeneca shareholders would receive, for each AstraZeneca share, 1.845 shares in the combined company and 1,598 pence in cash, representing an indicative value of £50.00 ($84.47) per share.
28 April 2014
Pfizer confirmed that it previously submitted a preliminary, non-binding indication of interest to the board of directors of AstraZeneca in January 2014 regarding a possible merger transaction.
After limited high-level discussions, AstraZeneca declined to pursue negotiations.
The discussions were discontinued on 14 January 2014 and Pfizer then ceased to consider a possible transaction.
In light of recent market developments, Pfizer contacted AstraZeneca on 26 April 2014 seeking to renew discussions in order to develop a proposal that could be recommended by both companies to their shareholders. AstraZeneca again declined to engage.
Pfizer is currently considering its options with respect to AstraZeneca.
Pfizer’s previous proposal made to the board of AstraZeneca on 5 January 2014 included a combination of cash and shares in the combined entity which represented an indicative value of £46.61 ($76.62)1 per AstraZeneca share and a substantial premium of approximately 30% to AstraZeneca’s closing share price of £35.86 on 3 January 2014.
|Actavis, Allergan||Nov 2014||66000||Acquisition agreement for Allergan|| |
Actavis and Allergan have entered into a definitive agreement under which Actavis will acquire Allergan for a combination of $129.22 in cash and 0.3683 Actavis shares for each share of Allergan common stock.
Based on the closing price of Actavis shares on November 14, 2014, the transaction is valued at approximately $66 billion, or $219 per Allergan share.
The combination will create one of the top 10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015.
The transaction has been unanimously approved by the Boards of Directors of Actavis and Allergan, and is supported by the management teams of both companies.
Actavis anticipates that the expected permanent financing structure, consisting of a combination of new equity and debt, will support an investment grade rating and provide long-term financing flexibility.
|Abbvie, Shire Pharmaceuticals||Jun 2014||54000||Acquisition agreement for Shire (terminated)|| |
21 October 2014
The dream is officially over for the $55 billion marriage between American biotech AbbVie (ABBV) and smaller Irish firm Shire Pharmaceuticals.
If approved by shareholders, the failed deal will cost AbbVie around $1.6 billion, the third largest breakup fee in financial history.
16 October 2014
AbbVie has recommended that shareholders reject the deal.
The takeover, a so-called “tax inversion,” was clearly affected a decision made by the Irish government Monday to scuttle such tax perks, as well as pressure from the Treasury Department.
Should AbbVie shareholders take the recommendation and turn down the transaction, AbbVie will pay a $1.64 billion break-up fee.
18 July 2014
Shire Shareholders will be entitled to receive: for each Shire Share: £24.44 in cash and 0.8960 New AbbVie Shares.
The Transaction will create a well-positioned and focused specialty biopharmaceutical company, with sustainable leadership positions within areas of unmet need, including immunology, rare diseases, neuroscience, metabolic diseases and liver disease (HCV) and multiple emerging oncology programs.
Immediately following the Transaction, Shire Shareholders are expected to hold New AbbVie Shares representing approximately 25 per cent.
of the issued share capital of New AbbVie, thus offering Shire Shareholders the ability to participate in the future prospects of the Combined Group.
AbbVie Stockholders are expected to hold New AbbVie Shares representing approximately 75 per cent. of the issued share capital of New AbbVie.
AbbVie expects the Transaction to be accretive to AbbVie's adjusted EPS1 in the first year following completion, growing to above $1.00 per share by 2020, with material ongoing
14 July 2014
Shire announces that following discussions with AbbVie, Shire requested and has received a further revised proposal from AbbVie on 13 July 2014 (the “Revised Proposal”).
The Revised Proposal comprises £24.44 in cash and 0.8960 shares of new AbbVie per Shire share. Based on the AbbVie share price on 11 July 2014, AbbVie’s Revised Proposal has an indicative value of £53.20 per Shire share.
Under the Revised Proposal, Shire shareholders would own approximately 25 per cent of the combined new AbbVie.
The Board of Shire has indicated to AbbVie that it would be willing to recommend an offer at the level of the Revised Proposal to Shire shareholders subject to satisfactory resolution of the other terms of the offer.
Accordingly, the Board is in detailed discussions with AbbVie in relation to these terms.
08 July 2014
Shire buyout, AbbVie boosted its premium offer by 11% this morning, bringing the total to a bit more than $51 billion.
The revised proposal includes £22.44 in cash and 0.8568 ordinary shares of "New AbbVie" for each share of Shire ($SHPG).
The Fourth Proposal represents an indicative value of £51.15 as of July 7, 2014.
20 June 2014
Shire notes the announcement made by AbbVie and confirms that on 30 May 2014, Shire received an unsolicited and highly conditional proposal from AbbVie regarding a possible cash and share offer for Shire.
This Proposal has been rejected.
The Proposal comprised £20.44 in cash and 0.7988 AbbVie shares per Shire share.
The Proposal involved a new US listed holding company with a UK tax domicile.
|Covidien, Medtronic||Jun 2014||42900||Acquisition agreement for Covidien|| |
4 December 2014
Chinese regulatory authorities have signed off on the planned $43 billion merger between Medtronic and Covidien, a major milestone as both companies push to conclude the transaction by end of the 2015 1st quarter.
10 October 2014
Covidien as of the close of business on October 9, 2014, the Company’s issued share capital, excluding treasury shares, consisted of 452,620,558 ordinary shares, par value US$0.20 per share (the “Ordinary Shares”).
The International Securities Identification Number (ISIN) of the Ordinary Shares is IE00B68SQD29.
The Company confirms that, as of the close of business on October 9, 2014, there were outstanding 1,628,200 restricted share units (the “Restricted Share Units”) and 13,061,618 options to purchase Ordinary Shares (the “Share Options”) granted by the Company.
29 September 2014
Medtronic is likely to try to renegotiate the structure and terms of its $42.9 billion deal to buy Ireland's Covidien in response to new U.S. tax rules, according to people familiar with the situation.
The U.S. Treasury this week reduced the ease and benefits of U.S. companies buying foreign rivals so they can move their tax domicile abroad, a practice known as inversion.
Concerns that U.S. companies were using the strategy to avoid paying taxes spurred the action.
9 September 2014
A person interested in 1% or more of any relevant securities in the Covidien plc (the “Company”) may have disclosure obligations under Rule 8.3 of the Irish Takeover Rules.
This requirement will continue until the offer period ends.
14 July 2014
Covidien confirms that, as of the close of business on July 11, 2014, the Company’s issued share capital, excluding treasury shares, consisted of 451,716,767 ordinary shares, par value US$0.20 per share (the “Ordinary Shares”).
The Company also confirms that, as of the close of business on July 11, 2014, there were outstanding performance share units (the “Performance Share Units”) entitling holders to receive up to a maximum of 2,207,292 Ordinary Shares upon vesting, assuming satisfaction of the applicable performance criteria at maximum performance.
15 June 2014
Medtronic and Covidien have entered into a definitive agreement under which Medtronic has agreed to acquire Covidien in a cash-and-stock transaction valued at $93.22 per Covidien share, or a total of approximately $42.9 billion, based on Medtronic's closing stock price of $60.70 per share on June 13, 2014.
Once the transaction is completed, Medtronic will have significantly advanced its position as the world's premier medical technology and services company.
The combined company will have a comprehensive product portfolio, a diversified growth profile and broad geographic reach, with 87,000 employees in more than 150 countries.
The Boards of Directors of both companies have unanimously approved the transaction.
Each outstanding ordinary share of Covidien will be converted into the right to receive $35.19 in cash and 0.956 of an ordinary share of Medtronic plc.
|Actavis, Forest Laboratories||Feb 2014||28000||Acquisition agreement for Forest Laboratories|| |
01 July 2014
Actavis has completed the acquisition of Forest Laboratorie in a cash and equity transaction currently valued at approximately $28 billion.
30 June 2014
Actavis and Forest Laboratories announced the preliminary results of the elections made by stockholders of Forest regarding their preference as to the form of merger consideration they will receive in connection with Actavis' pending acquisition of Forest.
Subject to regulatory approval and other customary closing conditions, the closing of the acquisition is expected to be effective on July 1st, 2014.
18 June 2014
Actavis announced that, at shareholder meetings held today, all proposals related to Actavis' planned acquisition of Forest were approved by both Actavis' and Forest's shareholders.
18 April 2014
Actavis and Forest Laboratories, each received a request for additional information from the Federal Trade Commission in connection with Actavis' pending acquisition of Forest.
The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
18 February 2014
Actavis and Forest Laboratories have entered into a definitive agreement under which Actavis will acquire Forest for a combination of cash and equity valued at approximately $25 billion or $89.48 per Forest share ($26.04 in cash and 0.3306 Actavis shares for each share of Forest common stock).
If successfully completed, the transaction will combine two of the world's fastest-growing specialty pharmaceutical companies, with combined annual revenues of over $15 billion anticipated for 2015.
The combined company will have an approximately $2 billion CNS franchise; Gastroenterology (GI) and Women's Health franchises valued at approximately $1 billion each; a Cardiovascular franchise that generates approximately $500 million; and Urology and Dermatology/Established Brand franchises approaching $500 million a year in sales each.
The proposed transaction has been unanimously approved by the Boards of Directors of Actavis and Forest.
|Merck KGaA, Sigma-Aldrich||Sep 2014||17000||Acquisition agreement for Sigma Aldrich|| |
8 December 2014
Sigma-Aldrich Corporation stockholders voted to adopt the previously announced merger agreement providing for the acquisition of Sigma-Aldrich by Merck KGaA, Darmstadt, Germany at a special meeting of stockholders.
Sigma-Aldrich stockholders also approved, on an advisory, non-binding basis, compensation that may become payable to named executive officers as a result of the acquisition.
Sep 22, 2014
Merck KGaA agreed to buy Sigma-Aldrich for $17 billion in cash to expand in chemicals used in research labs and pharmaceutical manufacturing and reduce its dependence on drug development.
Merck will pay $140 a share, 37 percent more than Sigma-Aldrich’s closing price on Sept. 19.
Sigma-Aldrich will add to Merck’s earnings immediately, according to the statement.
Merck’s shares jumped the most in more than nine months in Frankfurt.
The purchase will accelerate Merck’s shift away from developing pharmaceuticals at a time when its Serono biotechnology business has struggled to create new products.
Sigma-Aldrich shareholders will vote on the transaction at a special meeting, and the deal is expected to close in mid-2015, Merck said.
The purchase values Sigma-Aldrich, excluding net debt, at about 19.9 times earnings before interest, taxes, depreciation and amortization for the past 12 months, compared with a median multiple of 9.5 times in specialty chemicals acquisitions of $100 million or more in the past five years.
|Biomet, Zimmer||Apr 2014||13350||Acquisition agreement for Biomet|| |
Zimmer Holdings and Biomet announced that their respective Boards of Directors have approved a definitive agreement under which Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion.
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the first quarter of 2015.
The merger of Zimmer and Biomet will position the combined company as a leader in the $45 billion musculoskeletal industry and is aligned with Zimmer's strategic framework, which focuses on growth, operational excellence and prudent capital allocation.
|Becton Dickinson, CareFusion||Oct 2014||12200||Acquisition agreement for CareFusion|| |
BD and CareFusion announced a definitive agreement under which BD will acquire CareFusion for $58.00 per share in cash and stock, or a total of $12.2 billion, to create a global leader in medication management and patient safety solutions.
The agreement has been unanimously approved by the Boards of both companies.
The combination of the two companies' complementary product portfolios will offer integrated medication management solutions and smart devices, from drug preparation in the pharmacy, to dispensing on the hospital floor, administration to the patient, and subsequent monitoring.
The combination will improve the quality of patient care and reduce healthcare costs by addressing unmet needs in hospitals, hospital pharmacies and alternate sites of care to increase efficiencies, reduce medication administration errors and improve patient and healthcare worker safety.
In addition, the Company will have solid positions in patient safety to maximize outcomes in infection prevention, respiratory care, and acute care procedural effectiveness.
CareFusion shareholders will receive $49.00 in cash and 0.0777 of a share of BD for each share of CareFusion, or a total of $58.00 per CareFusion share based on BD's closing price as of October 3, 2014.
The transaction is subject to regulatory and CareFusion shareholder approvals and customary closing conditions, and is expected to close in the first half of calendar year 2015.
Upon closing, BD shareholders will own approximately 92 percent of the combined company and CareFusion shareholders will own approximately 8 percent.
|Cubist Pharmaceuticals, Merck and Co||Dec 2014||9500||Acquisition agreement for Cubist|| |
19 December 2014
Merck is commencing, through a subsidiary, a cash tender to purchase all outstanding shares of common stock of Cubist Pharmaceuticals.
Upon the successful closing of the tender offer, stockholders of Cubist will receive $102.00 in cash for each share of Cubist common stock validly tendered and not properly withdrawn in the offer, without interest and less any required withholding taxes.
Following the purchase of shares in the tender offer, Cubist will become a wholly owned subsidiary of Merck.
06 December 2014
Merck and Cubist Pharmaceuticals have entered into a definitive agreement under which Merck will acquire Cubist for $102 per share in cash, which represents a 35 percent premium to Cubist’s average stock price for the most recent five trading days.
Unanimously approved by the boards of directors of both companies, the transaction has an equity valuation of $8.4 billion and will also include $1.1 billion in net debt (based on projected cash balances) and other considerations for a total transaction value of approximately $9.5 billion.
Cubist complements Merck’s strategy and the global initiative Merck launched last year, particularly in the area of sharpening its commercial focus on key therapeutic areas that have the potential to deliver the greatest return on investment.
With the company’s long-standing leadership in anti-infectives as well as its customer-focused operating model, Merck identified the hospital acute care segment as one of the company’s key priority areas in which it believes it can have the greatest impact in addressing significant unmet medical needs while delivering the greatest value to customers and society.
|InterMune, Roche||Aug 2014||8300||Acquisition agreement for Intermune|| |
Roche announced the acquisition of Brisbane, California biotech company InterMune, Inc. for a cash transaction totaling $8.3 billion.
Based on a price of $74.00 per share, the merger has been approved by the boards of both companies.
InterMune focuses on developing and commercializing therapies in pulmonology and orphan fibrotic diseases.
The acquisition of InterMune would strength Roche’s portfolio of respiratory drugs.
Under the merger deal, Roche will start a tender offer non later than August 29, 2014 and InterMune will file a statement of recommendation to shareholders.
|Meda, Mylan Laboratories||Apr 2014||6700||Acquisition agreement for Meda (proposed)|
|Covance, Laboratory Corporation of America||Nov 2014||6100||Acquisition agreement for Covance|| |
Laboratory Corporation of America will acquire Covance for $6.1 billion.
Covance is a contract research organization (CRO) that provides services for drug development and animal testing.
Both companies’ boards have approved the deal.
Covance shareholders will receive $75.76 in cash and 0.2686 shares of LabCorp for each Covance share.
The deal will allow LabCorp a larger international audience, as well as access to significant clinical trial support business.
Revenue is expected to be broken down as 32 percent from managed care, 29 percent from pharmaceutical and biotech companies, 22 percent from commercial clients, 12 percent from Medicare/Medicaid, and 5 percent from private patients.
|Mallinckrodt Pharmaceuticals, Questcor Pharmaceuticals||Apr 2014||5800||Acquisition agreement for Questcor Pharmaceuticals|| |
15 August 2014
Mallinckrodt has completed its acquisition of Questcor Pharmaceuticals in a cash and stock transaction valued at approximately $5.8 billion.
14 August 2014
Mallinckrodt and Questcor Pharmaceuticals jointly announced that all proposals necessary for Mallinckrodt's acquisition of Questcor were approved by Mallinckrodt's and Questcor's shareholders at each company's respective shareholder meeting held today.
7 April 2014
Mallinckrodt and Questcor Pharmaceuticals have entered into a definitive merger agreement under which Mallinckrodt will acquire Questcor in a transaction valued at approximately $5.6 billion.
The transaction was unanimously approved by the Boards of Directors of both companies.
Questcor shareholders will receive $30.00 per share in cash and 0.897 Mallinckrodt shares for each share of Questcor common stock they own, for a total approximate consideration of $86.10 per Questcor share.
Following completion of the merger, Mallinckrodt shareholders will own approximately 50.5% and former Questcor shareholders will own approximately 49.5% of the combined company's stock.
Based on the closing price of Mallinckrodt and Questcor on April 4, 2014, the total per share consideration represents a premium of approximately 27% per share over Questcor's stock price, and a premium of approximately 33% over Questcor's trailing 20-trading-day volume-weighted average price.
|Allergan, Valeant Pharmaceuticals||Apr 2014||5380||Acquisition agreement for Allergan (proposed)|| |
18 June 2014
Valeant Pharmaceuticals has commenced an exchange offer for the common stock of Allergan, taking its May 30th proposal directly to Allergan stockholders.
Allergan stockholders would be able to elect to exchange each of their Allergan shares for $72.00 in cash and 0.83 Valeant common shares, or an amount of cash, or a number of Valeant common shares, in each case subject to proration.
The amount of the all cash and all stock elections would be determined prior to the expiration of the exchange offer and would be set so that the implied value of all three elections would be the same based on the average closing prices of the Valeant common shares during an averaging period described in the offering documents.
Valeant expects to complete a second-step merger promptly following the consummation of the exchange offer in order to acquire the remaining Allergan shares.
09 June 2014
Allergan shareholders have told activist investor William Ackman, who along with Valeant Pharmaceuticals is trying to buy Botox maker Allergan that they would support a deal at $180 per share.
The days after Ackman met with investors, May 30, Valeant raised its offer to include $72 in cash for a per share value of about $177 and a total value of more than $53 billion.
In that offer, Ackman agreed to take only Valeant stock, freeing up Valeant to offer more cash to other shareholders.
02 June 2014
At the Special Meeting, Allergan stockholders would be asked to remove a majority of the Company’s existing directors in connection with Valeant Pharmaceuticals International and Pershing Square’s previously announced unsolicited proposal to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares, $72.00 in cash per share of common stock of the Company, and a Contingent Value Right (CVR) related to DARPin sales (the “Re-Revised Proposal”) and request that new directors be appointed.
02 June 2014
Valeant Pharmaceuticals on Monday prepared to take its $53.8 billion takeover bid for Allergan directly to the Botox maker's shareholders, and ally Pershing Square called for a meeting to turn over the target company's board.
Pershing Square Chief Executive Officer Bill Ackman, whose hedge fund owns 9.7 percent of Allergan, said in a conference call with Valeant CEO Mike Pearson that he had requested a special meeting that could take place as early as Aug. 7.
28 May 2014
Increases Cash Consideration by $10.00 per share to $58.30, approximately 21 Percent Increase.
Maintains 0.83 of a Valeant share.
Adds Contingent Value Right for DARPin of up to $25.00 per Share in Value.
15 May 2014
Allergan announced that its Board of Directors has unanimously rejected the unsolicited proposal announced by Valeant Pharmaceuticals on April 22, 2014.
After a comprehensive review, conducted in consultation with its financial and legal advisors, the Allergan Board concluded that the Proposal substantially undervalues Allergan, creates significant risks and uncertainties for the stockholders of Allergan, and is not in the best interests of the Company and its stockholders.
22 April 2014
Valeant Pharmaceuticals has submitted a merger proposal to the Board of Directors of Allergan under which each Allergan share would be exchanged for $48.30 in cash and 0.83 shares of Valeant common stock, based on the fully diluted number of Allergan shares outstanding.
Shareholders will be able to elect a mix of cash and shares.
The proposal represents a substantial premium based on Allergan's unaffected price of $116.63 on April 10, 2014, the day before Pershing Square Capital Management L.P. ("Pershing Square") crossed the 5% Schedule 13D ownership level and commenced its rapid accumulation program.
Allergan shareholders will own 43% of the combined company and thereby continue to participate in the expected value creation of the combined company.
Pershing Square, Allergan's largest shareholder with a 9.7% stake in Allergan, has agreed to elect only stock consideration in the transaction and intends to remain a significant long-term shareholder of the combined company.
|Omega Pharma, Perrigo||Nov 2014||4500||Acquisition agreement for Omega Pharma|| |
Perrigo Company announced today that it will acquire Belgium-based Omega Pharma for $4.5 billion.
Perrigo develops, manufactures and distributes over-the-counter and generic prescription drugs, nutritional products and active pharmaceutical ingredients.
Omega is an over-the-counter healthcare company that operates in 35 countries across Europe and certain emerging markets.
The deal is a mix of cash and equity valued at $4.5 billion.
Perrigo will purchase Omega’s equity for €2.48 billion and take on €1.1 billion in debt.
Twenty-five percent of the equity purchase price will be funded by Perrigo stock, about 5 million shares, going directly to Coucke, and 75 percent will be funded via a combination of cash and debt.
J.P. Morgan Chase Bank, N.A. and Barclays have provided Perrigo with a €1.75 billion bridge.
The transaction has been unanimously approved by both companies’ boards and is expected to close in the first quarter of 2015.
|Idenix Pharmaceuticals, Merck and Co||Jun 2014||3850||Acquisition agreement for Idenix Pharmaceuticals|| |
5 August 2014
Merck announced the successful completion of the tender offer for all of the outstanding shares of common stock of Idenix Pharmaceuticals at a purchase price of $24.50 per share.
As of the tender offer expiration yesterday, 131,693,787 shares of common stock of Idenix were validly tendered and not withdrawn from the tender offer, representing approximately 82.5 percent of the outstanding common stock of Idenix on a fully diluted basis.
All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for all such shares.
20 June 2014
Merck is commencing today, through a subsidiary, a cash tender offer to purchase all outstanding shares of common stock of Idenix Pharmaceuticals.
On June 09, 2014, Merck announced its intent to acquire Idenix.
Upon the successful closing of the tender offer, stockholders of Idenix will receive $24.50 in cash for each share of Idenix common stock validly tendered and not validly withdrawn in the offer, without interest and less any required withholding taxes.
Idenix will become a wholly-owned subsidiary of Merck.
09 June 2014
Merck and Idenix Pharmaceuticals announced that the companies have entered into a definitive agreement under which Merck will acquire Idenix for $24.50 per share in cash.
The transaction, which values the purchase of Idenix at approximately $3.85 billion, has been approved by the boards of directors of both companies.
Idenix is a biopharmaceutical company engaged in the discovery and development of medicines for the treatment of human viral diseases, whose primary focus is on the development of next-generation oral antiviral therapeutics to treat hepatitis C virus (HCV) infection.
|Galderma, Loreal, Nestle||Feb 2014||3600||Acquisition agreement for Galderma|| |
Nestle paid $3.6 billion yesterday to take full control of Galderma, the dermatology business that revives skin.
The maker of treatments for acne and psoriasis, Galderma will become part of a new division known as Nestle Skin Health SA, with a brand stable ranging from prescription drugs to over-the-counter soaps and sunscreens for skin, hair and nails.
It’s the latest push by Nestle into health care, a sector that promises faster growth and wider profit margins than the Swiss company’s main food business.
Nestle, which bought the half of the venture it didn’t own from partner L’Oreal SA, (OR) is banking on full control to help the unit revive its performance.
|Avanir Pharmaceuticals, Otsuka, Otsuka America Pharmaceutical||Dec 2014||3500||Acquisition agreement for Avanir Pharmaceuticals|| |
Otsuka Pharmaceutical announced an agreement with Avanir Pharmaceuticals, in which Otsuka America, acquires Avanir for USD 3.5 billion in an all-cash tender offer.
|Abbott Laboratories, CFR Pharmaceuticals||May 2014||3330||Acquisition agreement for CFR Pharmaceuticals|| |
26 September 2014
Abbott has acquired control of CFR Pharmaceuticals, more than doubling its Latin American branded generics pharmaceutical presence and further expanding the company's presence in fast-growing markets.
Through purchase of the controlling interest and tender offers described below, Abbott indirectly acquired more than 99 percent of CFR's ordinary shares for approximately $2.9 billion.
24 September 2014
Abbott announced the expiration of the tender offer for the purchase from U.S. holders of the ordinary shares of CFR Pharmaceuticals and for the purchase from all holders, wherever resident, of CFR's outstanding American Depositary Shares. The offer was not conditioned on the receipt of any minimum number of ordinary shares or American Depositary Shares being tendered.
16 May 2014
Abbott announced a definitive agreement to acquire Latin American pharmaceutical company CFR Pharmaceuticals.
Abbott will acquire the holding company that indirectly owns approximately 73 percent of CFR Pharmaceuticals and will conduct a public cash tender offer for all of the outstanding shares of CFR.
Assuming all publicly-held shares are tendered, the total purchase price would be approximately $2.9 billion, plus the assumption of net debt of approximately $430 million.
This acquisition immediately establishes Abbott among the top 10 pharmaceutical companies in Latin America, further broadening Abbott's geographic presence across the region.
Abbott will commence a tender offer to purchase all the outstanding shares of CFR Pharmaceuticals following necessary regulatory approvals. Abbott plans to fund the transaction with cash on the balance sheet.
|Tornier, Wright Medical||Oct 2014||3300||Acquisition agreement for Tornier|| |
Wright Medical Group and Tornier have entered into a definitive merger agreement under which Wright and Tornier will combine in an all stock transaction with a combined equity value of approximately $3.3 billion.
Under the terms of the agreement, which has been unanimously approved by the boards of directors of both Wright and Tornier, each outstanding share of Wright common stock will be exchanged for 1.0309 ordinary shares of Tornier.
Wright shareholders will own approximately 52% of the shares of the combined company on a fully diluted basis and Tornier shareholders will own approximately 48%.
For Tornier shareholders, the exchange ratio implies a per share value for Tornier that represents a 28% premium to Tornier's closing share price on October 24, 2014, the last trading day prior to the parties entering into the agreement.
Following the closing of the transaction, the combined company will conduct business as Wright Medical Group and will leverage the global strengths of both product brands as a pure play Extremities-Biologics business.
The combined company will have its U.S. headquarters in Memphis, TN, where Wright's current headquarters is located. Wright Medical Group will be led by Robert Palmisano, who will become president and chief executive officer of the combined company.
|Daiichi Sankyo, Ranbaxy Laboratories, Sun Pharmaceutical||Apr 2014||3200||Acquisition agreement for Ranbaxy Laboratories|| |
07 April 2014
Sun Pharmaceutical agreed to buy competitor Ranbaxy Laboratories for $3.2 billion from Japan’s Daiichi Sankyo, which paid 61 percent more for the company five years ago.
Ranbaxy investors will get 0.8 share in Sun for every one of their shares, or about 457 rupees.
Daiichi Sankyo, which owns 63.5 percent of Ranbaxy, paid 737 rupees a share in 2008.
Ranbaxy would give Sun control over the competitor’s pipeline of generic products and help it expand in markets including Russia and Brazil.
The company also needs to resolve production problems that led the Food and Drug Administration to ban four Ranbaxy plants from exporting to the U.S.
The deal will also give Sun Pharma access to three major products that Ranbaxy has tentative FDA approval to sell in the U.S.: generics of Novartis’s blockbuster Diovan, AstraZeneca’s Nexium and Roche’s Valcyte.
Since Ranbaxy was first to file applications for the three products, it’s entitled to 180 days of exclusivity if given final FDA clearance.
Ranbaxy’s products include the generic version of Pfizer’s cholesterol-lowering drug Lipitor.
|Meda, Rottapharm-Madaus||Jul 2014||3000||Acquisition agreement for Rottapharm-Madaus|| |
31 July 2014
The acquisition of the Italian specialty pharma company Rottapharm has been completed.
The total purchase price amounts to SEK 21.2 billion.
10 October 2014
Meda has entered into a definitive agreement to acquire Rottapharm¦Madaus.
Rottapharm is an Italian company owned by the Rovati family, for a consideration of SEK 21.2 billion (€2.275 billion) on a cash and debt free basis.
The consideration will comprise SEK 15.3 billion (€1.643 billion) in cash, 30 million Meda shares corresponding to a value of SEK 3.3 billion (€357 million) and a non-contingent deferred payment in January 2017 of SEK 2.6 billion (€275 million).
Following completion of the transaction, the Rovati family will own 9% of Meda.
|Aptalis Pharma, Forest Pharmaceuticals||Jan 2014||2900||Acquisition agreement for Aptalis Pharmaceutical|| |
03 February 2014
Forest Laboratories announced the completion of its acquisition of Aptalis.
The companies will begin combined operations today, with Aptalis operating as a subsidiary of Forest Laboratories.
The acquisition of Aptalis strengthens Forest’s gastrointestinal franchise in the U.S. and Canada, complements its growing cystic fibrosis business in Europe, and creates a cystic fibrosis business in the U.S. market.
8 January 2014
Forest Laboratories has entered into a definitive agreement to acquire Aptalisfor $2.9 billion in cash from its shareholders.
The acquisition, which requires review by anti-trust authorities in the US and Canada, is expected to be accretive to Forest’s FY2015 non-GAAP EPS.
Forest intends to acquire Aptalis from its shareholders for $2.9 billion in cash.
Forest expects to use a combination of cash on hand and debt to fund the transaction.
Forest has secured commitment for a $1.9 billion bridge facility.
|Cosmo Pharmaceuticals, Salix Pharmaceuticals||Jul 2014||2700||Merger agreement between Salix Pharmaceuticals and Cosmo Pharmaceuticals (terminated)|| |
03 October 2014
Salix Pharmaceuticals made a joint announcement that they had terminated a previously announced merger agreement priced at $2.7 billion.
The merger was a tax inversion deal and the end of the bid is likely the result of changes in the U.S. tax code related to these types of mergers.
19 August 2014
Salix Pharmaceuticals has received notice of the early termination of the waiting period for U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to its previously announced combination transaction with Cosmo Pharmaceuticals.
09 July 2014
Salix Pharmaceuticals and Cosmo Pharmaceuticals announced a definitive merger agreement under which Salix will combine with Cosmo Technologies.
Salix will become a wholly-owned subsidiary of Irish domiciled Cosmo Tech, which will change its name to Salix Pharmaceuticals, plc and is expected to have its ordinary shares listed and traded on the NASDAQ Global Select Market.
The transaction is expected to be modestly accretive to Salix’s earnings per share in 2016 and increasingly accretive thereafter.
08 July 2014
Salix Pharmaceuticals and Cosmo Pharmaceuticals announced a definitive merger agreement under which Salix will combine with Cosmo Technologies Limited, a subsidiary of Cosmo.
Under the terms of the agreement, Salix will become a wholly-owned subsidiary of Irish domiciled Cosmo Tech, which will change its name to Salix Pharmaceuticals, plc and is expected to have its ordinary shares listed and traded on the NASDAQ Global Select Market.
The transaction is expected to be modestly accretive to Salix’s earnings per share in 2016 and increasingly accretive thereafter.
Salix Pharmaceuticals, plc will own Cosmo’s U.S. patents for rifamycin MMX, methylene blue MMX and Uceris, and have specified rights of negotiation with respect to all products Cosmo or its affiliates seek to develop or commercialize in the U.S.
In addition, Salix Pharmaceuticals, plc will acquire Cosmo’s patents for rifamycin MMX in Canada, specified Latin American countries, India, China, Japan and the rest of the Far East, excluding Australia and New Zealand, and Cosmo’s patents for Uceris in Japan.
Upon completion of the merger, shareholders of Salix are expected to own slightly less than 80% of the ordinary shares of Salix Pharmaceuticals, plc and Cosmo is expected to own slightly more than 20%.
Shareholders of Salix will receive one ordinary share of Salix Pharmaceuticals, plc in exchange for each share of Salix Pharmaceuticals, Ltd common stock they own at closing.
In connection with the merger, Cosmo will continue to supply Uceris to Salix and will also supply rifamycin MMX and methylene blue MMX.
Additionally, Cosmo will have the right to designate one director to serve on the board of directors of Salix Pharmaceuticals, plc and will be subject to certain standstill provisions for at least 10 years following the completion of the merger.
The transaction, which will be taxable to Salix’s shareholders, is expected to close in the fourth quarter of 2014.
In connection with the transaction, Salix will also receive certain rights and protections under a Right of Negotiation and Non-Compete Agreement, which will: (1) give Salix a right of first negotiation with respect to all future products Cosmo or its affiliates seek to market in the U.S. in the GI space, and (2) prohibit Cosmo from competing directly with the combined company in the GI space in the U.S.
These terms will apply as long as Cosmo is entitled to designate a director to serve on the board of directors of Salix Pharmaceuticals, plc.
|Auxilium Pharmaceuticals, Endo International||Sep 2014||2600||Acquisition agreement for Auxilium Pharmaceuticals|| |
09 October 2014
Endo International have signed an agreement to merge.
Endo will purchase all outstanding shares of Auxilium common stock for $33.25 per share in a cash and stock transaction.
The deal is valued at $2.6 billion and has been approved by the boards of both companies.
Endo is a global specialty healthcare company that develops, manufactures, and commercializes branded and generic drugs and devices.
Auxilium is a specialty biopharmaceutical company with a portfolio of 12 approved products, including edex, Osbon ErecAid, and STENDRA for erectile dysfunction, and XIAFLEX for the treatment of Peyronie’s disease.
22 September 2014
Auxilium Pharmaceuticals rejected a $2.2 billion bid for the company from Ireland-based specialty healthcare company Endo International plc (ENDP), saying the proposal undervalues the company and is not superior to a competing merger offer from Canadian drugmaker QLT Inc. (QLTI).
17 September 2014
Auxilium Pharmaceuticals will review an unsolicited $2.2 billion takeover bid from Endo International.
But the board adopted a shareholder-rights or "poison pill" plan to deflect a hostile takeover attempt, and many analysts argued Endo will have to pay more to win Auxilium.
|Amsurg, Sheridan Healthcare||May 2014||2350||Acquisition agreement for Sheridan Healthcare|| |
AMSURG and Sheridan Healthcare announced that their respective Boards of Directors have unanimously approved a definitive agreement under which AMSURG will acquire Sheridan Healthcare in a cash and stock transaction valued at approximately $2.35 billion.
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the third quarter of 2014.
AMSURG and Sheridan expect the combination to create a unique business model that will better meet critical needs for physicians, health systems, communities and payers.
Sheridan Healthcare, a leading national provider of multi-specialty outsourced physician services to hospitals, ambulatory surgery centers (ASCs) and other healthcare facilities, is the country’s number one provider of anesthesiology services and the number two provider of children’s services, with strong operations in radiology and emergency medicine services as well.
|Danaher, Nobel Biocare||Sep 2014||2200||Acquisition agreement for Nobel Biocare|| |
Danaher has entered into a definitive transaction agreement with Nobel Biocare Holding pursuant to which Danaher will commence a tender offer for all publicly held registered shares of Nobel Biocare in an all-cash transaction valued at approximately $2.2 billion.
The deal is expected to widen Danaher's market presence in the global dental industry and allow Nobel Biocare to accelerate its strategic objectives and future growth.
Danaher will commence a voluntary all-cash public tender offer of CHF 17.10 per Nobel Biocare share to purchase all of Nobel Biocare's publicly held registered shares.
The offer prospectus is expected to be published on or around October 1, 2014 and the offer period during which Nobel Biocare shareholders may tender their registered shares is expected to start on or around October 16, 2014.
Headquartered in Zurich, Switzerland, Nobel Biocare is a world leader and pioneer in the field of innovative implant-based dental restorations and currently serves customers in 80 markets globally.
The Company's portfolio of solutions includes dental implant systems, high-precision individualized prosthetics, biomaterials and digital diagnostics, treatment planning and guided surgery.
In 2013, Nobel Biocare generated annual revenues of EUR 567 million (approximately $750 million based on 2013 calendar year-end exchange rates).
|Steris Corporation, Synergy Health||Oct 2014||1900||Acquisition agreement for Synergy Health|| |
STERIS and Synergy Health announced that STERIS is commencing a "recommended offer" under U.K. law to acquire Synergy in a cash and stock transaction valued at £19.50 ($31.35) per Synergy share, or a total of approximately $1.9 billion, based on STERIS's closing stock price of $56.38 per share on October 10, 2014.
The combined business (New STERIS) will have approximately $2.6 billion in annual revenues from over 60 countries, approximately 14,000 employees, and will bring together geographically complementary businesses.
For medical device manufacturers, STERIS's Isomedix and Synergy's Applied Sterilization Technologies (AST) will create a leading global supplier to best serve medical device Customers with a network of 58 facilities covering 18 countries.
For hospitals, the combination of STERIS's Infection Prevention and Services businesses with Synergy's Hospital Sterilization Services will strengthen the breadth and depth of the offering, accelerating the development of hospital sterilization outsourcing worldwide.
|Genentech, Seragon Pharmaceuticals||Jul 2014||1725||Acquisition agreement for Seragon Pharmaceuticals|| |
Genentech has entered into a definitive agreement to acquire Seragon Pharmaceuticals.
With this acquisition, Genentech obtains rights to Seragon’s entire portfolio of investigational next-generation oral selective estrogen receptor degraders (SERDs) for the potential treatment of hormone receptor-positive breast cancer.
Genentech will make an upfront cash payment of $725 million, plus additional contingent payments of up to $1 billion based on achievement of certain predetermined milestones.
The closing of the transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
The transaction is expected to close in the third quarter of 2014.
Once the transaction is completed, Seragon’s portfolio will be integrated into Genentech Research and Early Development.
|Alios Biopharma, Johnson & Johnson||Sep 2014||1700||Acquisition agreement for Alios BioPharma|| |
Johnson & Johnson announced that it has officially acquired Alios BioPharma for $1.7 billion in cash.
The acquisition will come with Alios’ portfolio of potential therapeutics for viral infections, including AL-8176, an orally administered antiviral therapy currently in Phase 2 studies for the treatment of respiratory syncytial virus.
The closing of the deal is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, but it is projected to close by the end of the fourth quarter of 2014.
|Advent International, Avista Capital Partners, Kremers Urban Pharmaceuticals, UCB||Nov 2014||1525||Acquisition agreement for Kremers Urban Pharmaceuticals (terminated)|| |
Advent International and Avista Capital Partners have mutually agreed to terminate their acquisition agreement, previously announced on November 7, 2014, pursuant to which Advent and Avista would have acquired UCB's US specialty generics subsidiary, Kremers Urban Pharmaceuticals, for gross cash proceeds of US$1,525 million.
The decision to terminate the acquisition agreement was primarily driven by an unexpected conflict in the timing for the acquisition (including the financing) and the regulatory process previously announced by KU on November 14, 2014.
UCB Group is selling Kremers Urban Pharmaceuticals, to two private equity firms, Advent International and Avista Capital Partners, for $1.525 billion.
Kremers Urban is UCB’s U.S.-based specialty generic subsidiary.
As part of the deal, UCB will receive gross cash proceeds of $1.525 billion.
The company indicates it will use the money to cut debt and increase its strategic investment and strengthen its research and develipment pipeline.
|Arthrocare, Smith & Nephew||Feb 2014||1500||Acquisition agreement for ArthroCare|| |
29 May 2014
Smith & Nephew announces the completion of the acquisition of ArthroCare Corporation.
The purchase price was $48.25 per share paid in cash, translating into an enterprise value of approximately $1.5 billion.
23 May 2014
British anti-trust regulators approved the $1.7 billion acquisition of ArthroCare by Smith & Nephew.
11 April 2014
Smith & Nephew has agreed to pay $12 million to settle a shareholder lawsuit blocking its $1.7 billion acquisition of ArthroCare ($ARTC), according to a SEC filing.
14 March 2014
Smith & Nephew announces that it and ArthroCare Corporation have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with Smith & Nephew's pending acquisition of ArthroCare.
The early termination of the waiting period under the Hart-Scott-Rodino Act satisfies one of the conditions for consummation of the transaction.
03 February 2014
Smith & Nephew announces the execution of a definitive agreement to acquire medical device company ArthroCare for $48.25 per ArthroCare share in cash, a total consideration of approximately $1.7 billion.
In resection, the combination of ArthroCare’s latest generation of radio frequency (RF) technology and Smith & Nephew’s strong mechanical blade portfolio gives customers greater choice.
In joint repair, ArthroCare’s shoulder anchor innovation strongly complements our strength in knee repair, forming an extensive, integrated portfolio.
The purchase price of $48.25 per ArthroCare share, or total consideration of $1.7 billion (enterprise value of $1.5 billion net of cash in ArthroCare).
It will be financed from Smith & Nephew’s debt facilities and cash balances, including the existing $1 billion revolving credit facility and a new two-year $1.4 billion term loan facility.
The term loan has been underwritten by Barclays and J.P. Morgan.
|Actavis, Forest Pharmaceuticals, Furiex Pharma||Apr 2014||1500||Acquisition agreement for Furiex Pharmaceuticals|| |
02 July 2014
Furiex today also announced that it has received notice of clearance of the proposed merger from the Ukrainian Antimonopoly Committee.
30 May 2014
Forest Laboratories has won U.S. antitrust approval to buy Furiex Pharmaceuticals.
28 April 2014
Forest Laboratories and Furiex Pharmaceuticals has entered into a definitive agreement to acquire Furiex for $95 per share, or approximately $1.1 billion in cash,
Also up to $30 per share (approximately $360 million in aggregate) in a Contingent Value Right (CVR) that may be payable based on the status of eluxadoline, Furiex’s lead product, as a controlled drug following approval.
The acquisition is subject to receipt of customary regulatory approvals and approval by Furiex shareholders.
The terms of the merger agreement provide for Forest to pay $95 per share to Furiex shareholders.
In addition, Forest agreed to make additional payments to Furiex shareholders that are contingent upon achievement of certain designations following FDA review.
If the optimal CVR milestone is realized, the combined cash and CVR consideration payable in the proposed transaction will be $125 per share, or approximately $1.5 billion in the aggregate.
Forest expects to use cash on hand to fund the acquisition of Furiex.
Actavis has consented to Forest’s acquisition of Furiex and supports the transaction.
|Cadence Pharmaceuticals, Mallinckrodt Pharmaceuticals||Feb 2014||1400||Acquisition agreement for Cadence Pharmaceuticals|| |
19 March 2014
Mallinckrodt announced the successful completion of its acquisition of Cadence Pharmaceutical for total consideration of approximately $1.4 billion.
Mallinckrodt expects that the acquisition will be immediately accretive to its fiscal year 2014 adjusted diluted earnings per share, and significantly accretive to its fiscal year 2015 adjusted diluted earnings per share.
11 February 2014
Mallinckrodt have entered into a definitive agreement to acquire all outstanding shares of Cadence Pharmaceuticals for $14.00 per share in cash or approximately $1.3 billion on a fully diluted basis.
It represents a 32% premium to the trailing 30-trading-day volume weighted average price (VWAP) of $10.62 per share for Cadence Pharmaceuticals, Inc.
Mallinckrodt expects the acquisition will be immediately accretive to its fiscal year 2014 adjusted diluted earnings per share, and significantly accretive to its fiscal year 2015 adjusted diluted earnings per share.
Cadence Pharmaceuticals is a biopharmaceutical company focused on commercializing products principally for use in the hospital setting.
Following the completion of the transaction, Cadence Pharmaceuticals, Inc. shares will be delisted from NASDAQ.
Mallinckrodt plc has entered into debt financing commitments with affiliates of Deutsche Bank Securities Inc. that, together with cash on hand, are expected to provide the funds necessary to consummate the acquisition.
Mallinckrodt expects that the financing for the transaction will be a senior secured term loan facility.
|Cooper Companies Inc, Sauflon Pharmaceuticals||Jul 2014||1200||Acquisition agreement for Sauflon Pharmaceuticals|| |
6 August 2014
The Cooper Companies announced that effective August 6, 2014, it has completed its previously announced acquisition of Sauflon Pharmaceuticals for a purchase price of approximately $1.2 billion.
Additional details will be provided on Cooper's third quarter 2014 earnings call on September 4, 2014 and at its 2014 Analyst Day on September 11, 2014.
In conjunction with the transaction, Cooper also announced it has closed a $700 million 3-year Senior Unsecured Term Loan which matures August 4, 2017.
1 July 2014
The Cooper Companies to acquire Sauflon Pharmaceuticals.
Sauflon is a European manufacturer and distributor of soft contact lenses and solutions, in a transaction valued at approximately $1.2 billion.
Sauflon forecasts revenue of approximately $210 million for its fiscal year ending October 31, 2014, up approximately 22% year-over-year.
The transaction is subject to regulatory approval and is anticipated to close prior to fiscal year end, October 31, 2014.
Excluding one-time charges and deal-related amortization, the transaction is expected to be accretive to earnings per share in fiscal 2015.
The acquisition will be financed with off-shore cash and credit facilities.
|Royal Philips Electronics, Volcano Corp||Dec 2014||1200||Acquisition agreement for Volcano|| |
Royal Philips and Volcano have entered into a definitive merger agreement. Pursuant to the agreement, Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share, or a total equity purchase price of USD 1 billion (approx. EUR 800 million), to be paid in cash upon completion.
The board of directors of Volcano has unanimously approved the transaction and recommends the offer to its shareholders.
The transaction is expected to close in the first quarter of 2015.
The acquisition will create a strategically and financially compelling combination that will provide higher growth, additional operating leverage through more productive sales operations, and enhance commercialization opportunities in new, adjacent segments.
Philips will drive operational performance improvements through cost synergies and the implementation of proven productivity improvement methodologies such as Lean.
As a result, the transaction is expected to be accretive to Philips' reported earnings per share by 2017, and Philips targets an EBITA margin for its image-guided therapy business group of around 20% by 2017.
The transaction is structured as a cash tender offer by Philips for all of the issued and outstanding shares of Volcano, to be followed by a merger in which each share of Volcano not tendered in the tender offer will be converted into the USD 18.00 per share price paid in the tender offer.
Pursuant to the merger agreement, the transaction is subject to customary closing conditions, including certain regulatory clearances in the US and in certain non-US jurisdictions.
The tender offer is not subject to any financing conditions. Philips intends to finance the acquisition through a combination of cash on hand and the issuance of debt.
|Beijing Jialin Pharmaceutical, Luye Pharma Group||Aug 2014||989||Acquisition agreement for Luye Pharma|| |
28 October 2014
Luye Pharma of Yantai will purchase the 42% of Beijing Jialin Pharma it does not already own for $390 million.
In August, Luye announced it would pay $599 million to acquire an initial 58% stake in Beijing Jialin, a company focused on cardiovascular and cancer drugs.
In 2013, Beijing Jialin reported $180 million of revenue and net profit of $41 million.
The total purchase price of $989 million is 24 times Jialin's 2013 profit.
29 August 2014
Luye Pharma of China will pay $599 million to acquire a 58% stake in Beijing Jialin Pharmaceutical Co., a company that makes drug products for cardiovascular diseases and cancer.
In 2013, Jialin produced $185 million of revenue.
According to Luye, the deal will add to its portfolio of cardiovascular drugs and broaden its sales network.
|Cinven, Medpace||Feb 2014||915||Acquisition agreement for Medpace|| |
Cinven announced a majority investment in Medpace, a leading contract research organisation, for a total consideration of US$915 million plus certain cash inflows relating to the period of ownership, acquired from CCMP Capital Advisors, LLC.
|BioMarin Pharmaceutical, ProSensa||Nov 2014||840||Acquisition agreement for Prosensa|| |
BioMarin Pharmaceutical and Prosensa Holding have entered into a definitive agreement in which BioMarin will offer to purchase all of the outstanding ordinary shares of Prosensa for $17.75 per share, for a total up front consideration of approximately $680 million.
In addition, two approximately $80 million contingent milestones are payable for the approval of drisapersen in the U.S. no later than May 15, 2016 and Europe no later than February 15, 2017, respectively.
BioMarin will offer to acquire all of Prosensa’s issued and outstanding ordinary shares and all ordinary share equivalents in an all cash transaction for $17.75 per share for an upfront purchase price of approximately $680 million.
Prosensa shareholders may also receive two regulatory milestone payments of approximately $80 million for receiving approval in the U.S. no later than May 15, 2016 and in Europe no later than February 15, 2017, respectively.
In addition, within 5 business days of signing the purchase agreement BioMarin will purchase from Prosensa a $50 million convertible note.
If the transaction fails to close for any reason, the note will automatically convert into 4,395,914 shares of Prosensa’s stock.
The transaction is expected to be accounted for as a business combination.
BioMarin will maintain operations at Prosensa’s headquarters, based in Leiden, The Netherlands and integrate Prosensa personnel from that office.
The acquisition will provide BioMarin with worldwide rights to multiple orphan-drug candidates, including drisapersen, which is currently under rolling review as part of a New Drug Application (NDA) with the Food and Drug Administration.
Prosensa’s pipeline is comprised of several potential products that leverage their proprietary RNA-modulating technology platform for the treatment of various genotypes of Duchenne muscular dystrophy and other genetic disorders.
|Nordion, Sterigenics||Mar 2014||826||Acquisition agreement for Nordion|| |
6 August 2014
Sterigenics International announced it has completed its $826 million acquisition of Nordion.
11 July 2014
Nordion announced that on July 10, 2014 the Federal Trade Commission terminated the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) with respect to Sterigenics’ proposed acquisition of Nordion and the Canadian Competition Bureau issued a no-action letter pursuant to the Competition Act.
The receipt of a no-action letter confirms that the Commissioner of Competition does not intend to challenge the proposed acquisition.
The termination of the HSR Act waiting period and the receipt of a no-action letter pursuant to the Competition Act (Canada) satisfy closing conditions of the proposed acquisition.
The transaction remains subject to certain closing conditions, including approval under the Investment Canada Act, and is expected to close in the second half of calendar 2014.
09 June 2014
Nordion have approved the special resolution authorizing the previously announced plan of arrangement (the "Arrangement") providing for the acquisition by Sterigenics of all Nordion's outstanding shares for cash consideration of US$13.00 per share.
The Arrangement resolution required the approval of 66 2/3% of the votes cast by Shareholders present in person or represented by proxy at the Annual and Special Meeting of Shareholders.
02 June 2014
Nordion has entered into a second amendment to the previously announced definitive agreement with Sterigenics providing that, among other things, shareholders of Nordion will now be entitled to a cash consideration of US$13.00 per share upon closing of the proposed acquisition by Sterigenics of all the issued and outstanding common shares of Nordion.
Although a clear majority of Nordion shareholders supported Sterigenics’ all-cash acquisition proposal at US$12.25 per share, there did not appear to be sufficient shareholder support to approve the transaction based on voting results available following the May 30, 2014 proxy voting deadline.
The Arrangement is now valued at approximately US$805 million and will be funded using a combination of new debt facilities and equity financing, both of which are fully committed, Sterigenics’ cash on hand and a portion of Nordion’s cash on hand.
28 March 2014
Nordion has entered into a definitive agreement to be acquired by Sterigenics.
Pursuant to this Arrangement Agreement, shareholders will receive an aggregate cash consideration of US$11.75 per share.
Upon closing of this transaction, Nordion will operate as a standalone company within Sterigenics and will continue to operate under the Nordion name.
The total transaction is valued at approximately US$727 million and will be funded using a combination of new debt facilities and equity financing, both of which are fully committed, Sterigenics's cash on hand, and a portion of Nordion's cash on hand.
|Labrys Biologics, Teva Pharmaceutical Industries||Jun 2014||825||Acquisition agreement for Labrys Biologics|| |
21 July 2014
Teva Pharmaceutical Industries announced the successful completion of the acquisition of Labrys.
The acquisition of Labrys brings to Teva LBR-101, a fully humanized monoclonal antibody that binds to calcitonin gene-related peptide (CGRP), which is currently in Phase IIb clinical trials for prevention of chronic and episodic migraine.
Teva’s acquisition of LBR-101 complements the recent acquisition of ZECUITY, a novel iontophoretic patch that delivers sumatriptan via the skin for the acute treatment of migraine, and positions Teva to compete for leadership in the treatment and prevention of migraine.
Additionally, the growing migraine franchise forms part of a strategic expansion of Teva’s overall CNS portfolio, in addition to a number of products in development for a broad range of pain states and in particular a large development program in the field of potential abuse deterrent opioids.
3 June 2014
Teva Pharmaceutical Industries announced that Teva has entered into a definitive agreement to acquire Labrys, broadening Teva’s array of biotechnology assets and capabilities.
Teva will acquire Labrys for $200 million in upfront payment in cash at closing as well as up to $625 million in contingent payments upon achievement of certain pre-launch milestones.
Potential peak sales for LBR-101 are estimated to reach $2 to $3 billion.
|Insight Pharmaceuticals, Prestige Brands||Apr 2014||750||Acquisition agreement for Insight Pharmaceuticals|| |
3 September 2014
Prestige Brands Holdings announced that it has closed the previously announced acquisition of Insight Pharmaceuticals.
25 April 2014
Insight Pharmaceuticals is acquired by Prestige Brands Holdings for $750 million.
Insight expanded its product portfolio of OTC women’s health and personal care products, adding high profile brands e.p.t, the leading home pregnancy testing brand, and MONISTAT, the #1 brand in the vaginal anti-fungal category.
|Bristol-Myers Squibb, iPierian||Apr 2014||725||Acquisition agreement for iPierian|| |
Bristol-Myers Squibb Company and iPierian announced that Bristol-Myers Squibb has acquired iPierian.
iPierian is a privately held biotechnology company focused on the discovery and development of new treatments for Tauopathies, a class of neurodegenerative diseases associated with the pathological aggregation of Tau protein in the human brain.
The acquisition gives Bristol-Myers Squibb full rights to iPierian’s lead asset IPN007.
IPN007 is an innovative preclinical monoclonal antibody that represents a promising new approach to treat progressive supranuclear palsy (PSP) and other Tauopathies, and has the potential to commence Phase 1 clinical trials by early 2015.
Genetically defined diseases, such as PSP, are caused by a known change in the genome. Knowledge of this genomic change is then used to design a therapeutic approach aimed precisely at that molecular defect, such as the anti-Tau antibody for PSP.
Bristol-Myers Squibb has acquired all of iPierian’s issued and outstanding shares of capital stock and all common stock equivalents in an all cash transaction for a purchase price of $175 million, with the potential for additional development and regulatory milestone payments totaling $550 million, along with future royalties on net sales.
The transaction is expected to be accounted for as an asset acquisition for Bristol-Myers Squibb resulting in a $175 million charge during the second quarter of 2014.
|Alvogen, Pamplona Capital Management||Apr 2014||700||Acquisition agreement for Alvogen|| |
Pamplona Capital Management has acquired a majority stake in pharmaceutical company Alvogen, who themselves are headquartered in Luxembourg.
The news has been announced on the Alvogen website as well as by various news sources.
While the terms and value of the deal are undisclosed, Private Equity News has reported the deal is worth close to $700million, while Pamplona has stated that the current Chief Executive of Alvogen, Robert Wessman, will continue to manage the business operations.
|CorePharma, Impax Laboratories, Tower Holdings||Oct 2014||700||Acquisition agreement for Tower Holding|| |
Impax Laboratories announced that it is acquiring Tower Holdings.
The deal includes subsidiaries CorePharma and Amedra Pharmaceuticals, and Lineage Therapeutics.
The deal is for $700 million in cash.
Impax is a specialty pharmaceutical company that has a successful generic component that targets high-value solid oral and alternative dosage from Abbreviated New Drug Applications (ANDA), and a branded business component focused on developing CNS products.
The generic division is Global Pharmaceuticals.
The acquired companies bring a portfolio of commercial products, including Albenza, seven complementary generic products for the treatment of invasive tapeworm infections, and a pipeline of 5 approved generic products that are not yet on the market.
In addition, 11 regulatory applications are awaiting approval and 35 more products are at various stages of development.
This pipeline of 50 or more products represents potential U.S. annual sales of $10.7 billion.
|Amag Pharmaceuticals, Lumara Health||Sep 2014||675||Acquisition agreement for Lumara Health|| |
AMAG Pharmaceuticals is acquiring women’s health company Lumara Health for $675 million.
The deal is for $600 million in cash and $75 in stock with a potential additional $350 million based on sales milestones.
Once the deal is closed, Lumara’s commercial operations will operate as a separate business unit within AMAG.
AMAG markets Feraheme (ferumoxytol) Injection and MuGard Mucoadhesive Oral Wound Rinse in the U.S. Lumara focuses on women’s health and markets Makena (hydroxyprogesterone caproate injection).
In February 2011 Lumara was granted 7-year orphan drug exclusivity by the FDA.
Makena is used to decrease the risk of premature birth in women who have already had one premature baby.
Makena is a big seller, with sales in the last 12 months ending on August 31 of more than $130 million, which is reportedly a 72 percent increase over the same period in the previous year.
|Actavis, Durata Therapeutics||Oct 2014||675||Acquisition agreement for Durata Therapetics|| |
3 November 2014
Actavis and Durata Therapeutics announced that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with respect to Actavis' pending acquisition of Durata.
6 October 2014
Actavis and Durata Therapeutics have inked a definitive merger agreement.
Under the deal, a subsidiary of Actavis will begin a tender offer to buy all outstanding share of Durata common stock for $23.00 per share in cash, or about $675 million.
Durata focuses on infectious disease treatments and other acute illnesses.
In particular, Durata sells DALVANCE (dalbavancin), an injectable antibiotic for acute bacterial skin and skin structure infections (ABSSSI).
|Baring Private Equity Asia, Bushu Pharmaceuticals, Tokio Marine Capital||Nov 2014||668||Acquisition agreement for Bushu Pharmaceuticals|| |
Baring Private Equity Asia said on Monday it has agreed to buy Japanese drugmaker Bushu Pharmaceuticals, valued at 77.3 billion yen ($668 million), from Tokio Marine Capital.
Bushu is a leading pharmaceutical contract manufacturing organisation (CMO) in Japan.
|Horizon Pharma Inc, Horizon Pharma plc, Vidara Therapeutics||Mar 2014||660||Acquisition agreement for Vidara Therapeutics|| |
22 September 2014
Horizon Pharma has completed the acquisition of Vidara Therapeutics.
In connection with the acquisition, Horizon and Vidara have combined with the resulting parent company incorporated in Ireland and named Horizon Pharma Public Limited Company, or plc.
Stockholders of Horizon Pharma received one ordinary share of Horizon Pharma plc in exchange for each share of Horizon Pharma common stock they owned at closing.
16 April 2014
Horizon Pharma has received notice of the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, in connection with its proposed acquisition of Vidara Therapeutics.
19 March 2014
Horizon Pharma and Vidara Therapeutics International have entered into a definitive agreement under which Horizon Pharma will acquire Vidara through a reverse merger for stock and cash valued at approximately $660 million.
Horizon Pharma plc will be the name of the resulting company.
Horizon Pharma will be organized under the laws of Ireland with a portfolio of four products marketed primarily in the United States.
The proposed transaction has been unanimously approved by both companies' boards of directors.
Vidara will combine with Horizon Pharma with approximately 74 percent of Horizon Pharma plc's ordinary shares to be exchanged for Horizon Pharma's common shares, with Horizon surviving the merger.
The shareholders of Vidara will retain approximately 26 percent of Horizon Pharma plc and receive $200 million in cash, subject to certain adjustments.
|Acadia Healthcare, Partnerships in Care||Jun 2014||660||Acquisition agreement for Partnerships in Care|| |
Acadia Healthcare to acquire Partnerships in Care (PiC) for approximately $660 million in cash.
PiC is the second largest independent provider of inpatient behavioral healthcare services in the United Kingdom, operating 23 inpatient psychiatric facilities with over 1,200 beds.
For 2013, PiC produced revenue of approximately $285 million and adjusted EBITDA of approximately $75 million.
Acadia has received a commitment from Bank of America Merrill Lynch regarding financing of the transaction.
It is expected that Acadia will seek a combination of equity and long-term debt financing in lieu of a portion or all of the drawings under the bridge loans available in the committed financing, subject to market and other conditions.
Acadia expects to complete the transaction on July 1, 2014.
|Chelsea Therapeutics, Lundbeck||May 2014||659||Acquisition agreement for Chelsea Therapeutics|| |
24 June 2014
Lundbeck has completed its acquisition of Chelsea Therapeutics Internationalfor USD 6.44 per share in cash and non-transferable contingent value rights that may pay up to an additional USD 1.50 per share upon achievement of certain sales milestones, in each case without interest and subject to any required withholding of taxes.
Chelsea became a wholly-owned indirect subsidiary of Lundbeck, and shares of Chelsea common stock will no longer be listed on the NASDAQ Capital Market.
23 June 2014
H. Lundbeck announced the completion of the tender offer by its wholly owned indirect subsidiary, Charlie Acquisition Corp., to purchase all of the outstanding shares of Chelsea Therapeutics International common stock for USD 6.44 per share in cash.
And non-transferable contingent value rights (CVRs) that may pay up to an additional USD 1.50 per share upon achievement of certain sales milestones, in each case without interest and subject to any required withholding of taxes.
The tender offer expired at 12:00 midnight, New York City time, on 20 June 2014, and was not extended.
06 June 2014
Chelsea Therapeutics International announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the previously announced Agreement and Plan of Merger, dated as of May 7, 2014.
23 May 2014
H. Lundbeck announced that it has commenced a tender offer to purchase all outstanding shares of Chelsea Therapeutics International for USD 6.44 per share in cash and CVRs that may pay up to an additional USD 1.50 per share upon achievement of certain sales milestones.
The tender offer is being made by Charlie Acquisition Corp, a wholly-owned indirect subsidiary of Lundbeck, pursuant to the previously announced merger agreement between the companies.
08 May 2014
Lundbeck and Chelsea Therapeutics International have entered into a definitive agreement under which Lundbeck will acquire Chelsea.
Lundbeck will commence a tender offer for all outstanding shares of Chelsea, whereby Chelsea stockholders will be offered an upfront payment and contingent value rights (CVRs), representing a total potential consideration of up to USD 7.94 per share, or USD 658 million (approximately DKK 3.5 billion) on a fully diluted basis.
The total potential consideration represents an attractive premium of 59% over the closing price of Chelsea shares on 7 May 2014.
Consideration includes USD 6.44 per share in cash, or approximately USD 530 million (approximately DKK 2.8 billion) on a fully diluted basis, as well as CVRs that may pay up to a total of an additional USD 1.50 upon achievement of certain commercial milestones related to NORTHERA's commercial performance in the period 2015-2017.
The proposed upfront per-share price represents a premium of approximately 29% over Chelsea's closing price of USD $5.00 on 7 May 2014.
The transaction will allow Lundbeck to leverage its expertise in rare neurologic disorders in the U.S. through the upcoming launch of NORTHERA, which was approved by the FDA on 18 February 2014 for the treatment of symptomatic neurogenic orthostatic hypotension (NOH).
|Aspen Investment, Vivus||May 2014||640||Acquisition agreement for Vivus (Proposed)|| |
Vivus is the subject of a buyout rumor this morning that appears to have more legs.
It is being reported that Aspen Investments, which could have an almost 10% stake in Vivus already, is set to offer $640 million for Vivus.
It is said that the offer will be conditional and non-binding.
It is anticipated that the offer will be submitted to the Vivus Board of Directors by June 13, 2014.
There are several things here for investors to consider.
First and foremost is that an offer has not yet been made.
At the moment, all that we have for information is that Aspen Investment is considering the submission of an offer.
|Gamida Cell, Novartis||May 2014||635||Acquisition agreement for Gamida Cell|| |
19 August 2014
Gamida Cell has signed an investment and option agreement with Novartis Pharma.
Novartis will invest $35 million in Gamida Cell and in return will receive 15% equity and an option to fully acquire Gamida Cell.
The option is exercisable for a limited period of time following achievement of certain milestones connected to the development of NiCord, anticipated to be met during 2015.
Completion of the transaction is subject to customary closing conditions.
Upon exercising the Option, Novartis would pay the other shareholders in Gamida Cell (the Sellers) cash payments of approximately $165 million, in accordance with the terms of the Agreement.
Sellers will be entitled to potential future payments which can reach a total of $435 million, depending on certain development and regulatory milestones and on sales of Gamida Cell's products.
18 August 2014
Plans for Novartis AG (NVS) to acquire Israeli-company Gamida Cell are back on the table.
In a reported multi-step deal, subject to a several milestones, shareholders in Gamida Cell reported to the Tel Aviv Stock Exchange (TASE) that Gamida was in negotiations with a pharmaceutical company for an investment and option agreement.
In May of this year, Novartis backed out of a $600 million transaction to acquire Gamida. The deal was valued at $200 to $300 million in cash and several hundred million more in milestone payments.
1 May 2014
Novartis had been in talks to acquire Gamida Cell for $200-300 million cash with the potential for a further three hundred million dollars in milestone payments and royalties.
Sources inform “Globes” that Novartis decided not to approve the deal.
It is not clear what is Novartis’s reason for pulling out of the deal.
Novartis had never publicly acknowledged that there were talks in the first place, although they had signed a memorandum of understanding including the exact financial conditions of the deal.
The main casualties of the decision were Gamida Cell’s shareholders – Elbit Medical (30%) and Clal Biotechnology (22%).
|Espirito Santo Saude, Fosun Pharmaceutical||Oct 2014||607||Acquisition agreement for Espirito Santo Saude|| |
Fosun International has won a takeover battle for a 51% stake Espirito Santo Saude.
It is a Portuguese chain of hospitals, clinics and nursing homes.
Fosun upped its bid to $607 million, raising the price 4% from its previous offer of 4.82 euros per share to 5.01. Fosun's latest bid narrowly tops the 5 euro offer from UnitedHealth of the US, one of Fosun's chief rivals in the drama.
The competition between bidders underscores the desire of investors to own hospital assets.
|Dava Pharmaceuticals, Endo International||Jun 2014||600||Acquisition agreement for DAVA Pharmaceuticals|| |
06 August 2014
Endo International has completed the acquisition of DAVA Pharmaceuticals for $575 million in cash, with additional cash consideration of up to $25 million contingent on the achievement of certain sales milestones.
The DAVA portfolio is well-positioned for continued strong financial performance with its existing commercial products and attractive near-term pipeline, and is a natural fit with Endo's U.S. generics business.
24 June 2014
Endo International to acquire DAVA Pharmaceuticals for $575 million in cash, with additional cash consideration of up to $25 million contingent on the achievement of certain sales milestones.
The acquisition enhances Endo's attractive commercialization and development platform and is expected to be immediately accretive to Endo's 2014 adjusted earnings per share (EPS).
|Merz, Ulthera||Jun 2014||600||Acquisition agreement for Ulthera|| |
29 July 2014
Merz and Ulthera have finalized a transaction for Merz to acquire the global medical device company.
This acquisition, valued at up to $600 million in upfront cash and milestone payments, is the largest in Merz’s history.
It represents an important strategic milestone for the company as Merz continues to establish itself as a global leader in the area of aesthetics.
27 June 2014
Merz and Ulthera have entered a definitive merger agreement, pursuant to which Merz will acquire global medical device company Ulthera.
A deal which will accelerate Merz’s growth in the aesthetics area and expand the company’s portfolio of treatment options in facial aesthetics.
Merz and Ulthera have entered a definitive merger agreement pursuant to which Merz will acquire Ulthera, a global medical device company focused on developing and commercializing technologies for aesthetic and medical applications using its therapeutic ultrasound platform technology.
Valued at up to $600 million in upfront cash and milestone payments, the acquisition is the largest in Merz’s history.
|Alere, Alere Health, Optum||Oct 2014||600||Acquisition agreement for Alere Health|| |
Optum and Alere today announced that Optum has entered into a definitive agreement to acquire Alere Health and its subsidiaries, which provide leading condition management, case management, wellbeing, wellness and women’s and children’s health services to more than 200 regional and local health plans, 89 Fortune 500 employers and 29 states.
Alere Health’s services are offered to more than 22 million people across the U.S.
The $600 million cash transaction is subject to customary regulatory approval and other closing conditions.
Such conditions for Alere include consent of the required lenders under Alere’s senior secured credit facility. The transaction does not require the approval of Alere’s shareholders.
|Quest Diagnostics, Solstas Lab Partners||Jan 2014||570||Acquisition agreement for Solstas Lab Partners|| |
Quest Diagnostics has entered into a definitive agreement under which Quest will acquire Solstas Lab Partners Group and its subsidiaries (Solstas) for a total transaction value of approximately $570 million.
Solstas is a portfolio company of Welsh, Carson, Anderson and Stowe, a private-equity firm specializing in information/business services and healthcare businesses.
Solstas is a full-service commercial laboratory company based in Greensboro, North Carolina
|Andromeda Biotech, Clal Biotech, Hyperion Therapeutics||Apr 2014||570||Acquisition agreement for Andromeda Biotech|| |
12 June 2014
Hyperion Therapeutics has completed its acquisition of Andromeda Biotech.
The acquisition broadens Hyperion's pipeline to include DiaPep277, a potentially first-in-class immunotherapy for new onset Type 1 diabetes.
DiaPep277 is currently being evaluated in a fully enrolled confirmatory Phase 3 clinical study in adult patients, with results anticipated in the first quarter of 2015.
24 April 2014
Hyperion Therapeutics has entered into a definitive agreement under which it will acquire Andromeda Biotech, subsidiary of Clal Biotechnology.
Andromeda is focused on the development of DiaPep277, a first-in-class immune intervention therapy for new onset Type 1 diabetes, an orphan indication with approximately 35,000 adults diagnosed annually across the U.S. and Europe.
DiaPep277 is currently being evaluated in a confirmatory Phase 3 clinical study in adult patients with new onset Type 1 diabetes.
The Phase 3 study is fully enrolled and results are anticipated in the first quarter of 2015.
Hyperion will pay $12.5 million in cash, less adjustments for expenses incurred in connection with the transaction, and 312,869 shares of Hyperion common stock (valued at approximately $7.85 million based on the average closing price of $25.09 per share for the 15 consecutive trading days ending April 17, 2014).
Hyperion will potentially make contingent payments to Andromeda security holders, as follows:
|Acorda Therapeutics, Civitas Therapeutics||Sep 2014||525||Acquisition agreement for Civitas Therapeutics|| |
23 October 2014
Acorda Therapeutics has completed its acquisition of Civitas Therapeutics and obtained global rights to CVT-301, a Phase 3 treatment candidate for OFF episodes of Parkinson’s disease.
The acquisition also included rights to the proprietary ARCUS pulmonary delivery technology, and a manufacturing facility with commercial-scale capabilities based in Chelsea, MA. Under the terms of the acquisition agreement, Acorda paid $525 million in cash to acquire Civitas.
24 September 2014
Acorda Therapeutics announced that it will acquire Civitas Therapeutics for $525 million in cash.
Acorda will acquire CVT-301, a Phase 3 candidate for Parkinson’s disease and the rights to ARCUS, Civitas’s pulmonary delivery technology, and a manufacturing facility in Chelsea, Mass.
CVT-301 is a dry powder L-dopa formulation in blister-packed capsules and delivered with a proprietary reusable inhaler.
The therapeutics for treatment of OFF episodes of Parkinson’s is expected to begin in early 2014.
If successful, the company plans to submit regulatory filings in the U.S. by the end of 2016.
|Argenta, BioFocus, Charles River Laboratories, Galapagos||Mar 2014||520||Acquisition agreement for Argenta and BioFocus|| |
01 April 2014
Galapagos confirms the completion of the transaction announced on 13 March 2014 to sell the BioFocus and Argenta service division operations to Charles River Laboratories International for a total consideration of up to €134 million.
Charles River is now integrating the BioFocus and Argenta operations into its organization.
The purchase price was €129 million in cash, subject to certain post-closing working capital adjustments.
Galapagos has received this €129 million payment and today has a cash balance of approximately €248 million.
Galapagos is eligible to receive a €5 million earnout payment after 12 months, upon achievement of a revenue target for the divested service division.
13 March 2014
Charles River Laboratories entered into a definitive agreement to acquire the CRO services division of Galapagos, which includes both Argenta and BioFocus.
These businesses are global leaders in integrated drug discovery services, with a predominant focus on in vitro capabilities.
The acquisition will position Charles River as a full service, early-stage contract research organization (CRO), with integrated in vitro and in vivo capabilities from target discovery through preclinical development.
The purchase price is €129 million in cash (approximately $179 million based on current exchange rates).
In addition to the initial purchase price, the transaction includes future performance payments of up to €5 million (approximately $7 million based on current exchange rates).
Located in the United Kingdom and the Netherlands, Argenta and BioFocus provide a full suite of drug discovery services from target discovery through the delivery of clinic-ready candidates to a broad range of pharmaceutical and biotechnology companies.
|PreCision Dermatology, Valeant Pharmaceuticals||Feb 2014||500||Acquisition agreement for Precision Dermatology|| |
08 July 2014
Valeant Pharmaceuticals has completed the previously announced acquisition of PreCision Dermatology.
PreCision develops and markets high quality dermatology products with leading products such as Locoid, Hylatopic, and Clindagel.
03 February 2014
Valeant will acquire PreCision Dermatology for $475 million in cash, plus an additional $25 million payable upon the achievement of a sales-based milestone. PreCision develops and markets high quality dermatology products with leading products such as Locoid, Hylatopic, Clindagel, and BenzEFoam.
PreCision operates in two key segments: Onset Dermatologics, which focuses on prescription therapies, and PrecisionMD, which focuses on physician dispensed products.
The Company is based in Cumberland, Rhode Island and has approximately 175 employees.
|Conemaugh Health System, Duke LifePoint||Aug 2014||500||Acquisition agreement for Conemaugh Health System|| |
Duke LifePoint Healthcare announced today that it has signed a definitive agreement to acquire Conemaugh Health System.
The financial terms of the agreement exceed $500 million and include a commitment by Duke LifePoint to invest $425 million in Conemaugh’s services and facilities over the next 10 years.
Duke LifePoint will acquire Conemaugh Health System’s three hospitals, outpatient centers and Conemaugh Physician Group practices.
Proceeds remaining from the transaction will be used by a locally governed charitable foundation to fund future programs to meet community needs.
Duke LifePoint will offer employment to all Conemaugh Health System employees and will work with Conemaugh leaders to establish a local board of trustees that includes members of the local community, local physicians and a representative from Duke.