Deals In Depth: November 2015
Executive Summary
Sanofi pushed ahead to advance its leadership in diabetes in a partnership with Hanmi; Pfizer bought Allergan in biopharma's biggest M&A to date, at $160bn. Boston Pharma's $600m financing contributed greatly to the early-stage venture category's 50% share of total financing.
Exhibit 1
Top Alliances In November 2015
(Potential Deal Value in $m)
Potential deal value is the sum of up-front fees plus pre- and post-commercialization money. Strategic Transactions Exhibit 2 Top Mergers & Acquisitions In November 2015
|
M&A |
Up-Front ($m) |
Total Earn-Outs ($m) |
Potential Deal Value ($m) |
Price-To-Sales (Ratio) |
|
Biopharma |
||||
|
Pfizer Inc., Allergan PLC combine in $160bn deal [See Deal] |
160,000 |
NA |
160,000 |
12.25 |
|
Shire PLC buys Dyax Corp. for $5.5bn [See Deal] |
5,488 |
646 |
6,134 |
67.15 |
|
AstraZeneca PLC buys ZS Pharma Inc. for $2.7bn [See Deal] |
2,700 |
NA |
2,700 |
NA |
|
Device |
||||
|
ConMed Corp. acquires SurgiQuest Inc. for $265m [See Deal] |
265 |
NA |
265 |
8.76 |
|
Medtronic PLC buys Aircraft Medical Ltd. for $110m in cash [See Deal] |
110 |
NA |
110 |
NA |
|
Boston Scientific Corp. acquires CeloNova Biosciences Inc.'s interventional radiology business [See Deal] |
70 |
NA |
70 |
NA |
|
Diagnostics |
||||
|
Charles River International Inc. buys Oncotest GMBH for €34m plus earn-outs [See Deal] |
36 |
2 |
38 |
0 |
Strategic Transactions
Exhibit 3
Financings By Type ($m)
Strategic Transactions Exhibit 4
Six-Month Snapshot Of Public And Private Financing
Strategic Transactions