Deals in Depth: August 2009
The month of August saw pharmaceutical deal values go down. The highest-valued deal was Forest Laboratories' US license to Nycomed's COPD candidate Daxas, which included $100mm up front and $500mm in total milestones. Acquisition volume decreased, across both biopharma and device. Still P&G managed to get $3.1bn in cash by selling its branded drug business to Warner Chilcott. In financings, public offerings continued last month's growth with three transactions in August--from Seattle Genetics, Onyx, and Inspire--netting over $100mm each. In addition, D-Pharm and Cumberland completed the first two pharma IPOs in over a year.
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