Will Pharmasset’s $11 Billion Windfall Benefit Other HCV Players?
Gilead Sciences’ offer of $11 billion for Pharmasset shattered all previous records for the cost of buying out a clinical-stage biotech and further cemented the status of hepatitis C as one of the hottest spaces in biopharmaceutical development.
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Biopharmaceutical company financings more than doubled to $2.7 billion from Q3. There were 23 acquisitions bringing in a total of $17.7 billion. And in alliances there was a focus on biosimilars, oncology and neurology deals, and unique partnerships with clear paths to exits.
The planned purchase price of $11 billion, or $137 a share, an 89% premium over Pharmasset’s closing price on Nov. 18, is by far the highest ever paid for a clinical-stage biotech.
Phase II ELECTRON study yielded 100% cure rate across all arms, including interferon-sparing and interferon-free regimens.