Deals In Depth: March 2016
Executive Summary
Sanofi signed a $2bn deal with DiCE Molecules to develop small molecules against targets previously addressed by biologics; Toshiba sold its diagnostics and medical imaging division to Canon for $6bn. Debt offerings dominated biopharma and device financings.
Exhibit 1
Top Alliances In March 2016
Potential deal value is the sum of up-front fees plus pre- and post-commercialization money.
Strategic Transactions
Exhibit 2
Top Mergers & Acquisitions In March 2016
|
M&A |
Up-Front Total ($m) |
Total Earn-Outs ($m) |
Potential Deal Value ($m) |
Price-To-Sales (Ratio) |
|
Biopharma |
||||
|
Vectura Group PLC to buy SkyePharma PLC for $621m [See Deal] |
621 |
NA |
621 |
4.6 |
|
Two years after it was founded, Padlock Therapeutics Inc. acquired by Bristol-Myers Squibb Co. for up to $600m [See Deal] |
225 |
375 |
600 |
NA |
|
Humanwell Healthcare (Group) Co. Ltd. & PuraCap Pharmaceutical LLC acquire Epic Pharma LLC for $550m; enter US market [See Deal] |
550 |
NA |
550 |
NA |
|
Devices |
||||
|
Canon Inc. buys Toshiba Corp.'s Toshiba Medical Systems Corp. for $6bn [See Deal] |
5,965 |
NA |
5,965 |
1.27 |
|
Bionik Laboratories Corp. acquires robotics firm Interactive Motion Technologies Inc. for $24.6m in stock [See Deal] |
24.6 |
NA |
24.6 |
12.3 |
|
BioTelemetry Inc. to acquire VirtualScopics LLC [See Deal] |
15.82 |
NA |
15.82 |
1.25 |
|
Diagnostics |
||||
|
DiaSorin SPA acquires molecular and immunoassay business Focus Diagnostics Inc. from Quest Diagnostics Inc. [See Deal] |
300 |
NA |
300 |
3.75 |
|
Meridian Bioscience Inc. acquires POC company Magellan Biosciences Inc. for $66m in cash [See Deal] |
66 |
NA |
66 |
4.13 |
Strategic Transactions
Exhibit 3
Financings By Type ($m)
SOURCE: Strategic Transactions
Exhibit 4
Six-Month Snapshot Of Public And Private Financing
SOURCE: Strategic Transactions