Dealmaking Quarterly Statistics, Q2 2020
A Look At M&A And Alliance Activity Across The Biopharma, Medical Device And In Vitro Diagnostics Industries, April-June 2020
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.
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The purchase gives the Italian firm ownership of the blood cancer therapy Elzonris which is already approved in the US and attracted the attention of another potential acquirer before Menarini clinched the deal to buy Stemline.
Novo Nordisk is paying $725m to acquire the VC-backed US biotech, Corvidia Therapeutics and its promising Phase II candidate, ziltivekimab, for chronic kidney disease, but further payments could total more than $2bn.
AbbVie will pay $750m up front plus up to $3.15bn in milestone fees to jointly develop and commercialize three bispecific antibody candidates for cancer and an earlier drug discovery collaboration.