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Here Are All The Big Biotech Mergers In 2016

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Here Are All The Big Biotech Mergers In 2016

Biotech is one of the sectors where M&A activities never stop, as the potential for growth and development is immense. After the termination of a $160 billion merger with Allergan plc Ordinary Shares (NYSE: AGN), Pfizer Inc. (NYSE: PFE) has returned to the M&A table with a bang.

Although some analysts and industry experts believe biotech firms enjoy an elevated premium or valuation, M&A in the space is growing. As a result, small companies have become the target of the big companies.

Most recently, Pfizer acquired Medivation Inc (NASDAQ: MDVN) for $14 billion on August 22. Within the next few days, the company bought AstraZeneca plc (ADR) (NYSE: AZN)'s antibiotics portfolio for $1.5 billion. There are also a number of small companies that announced M&A in the current year.

Related Link: BREAKING: Icahn Refutes Ackman's Claim, Buys 2.3 Million More Shares In Herbalife

Below is a look at the big mergers in the current year.

  • Abbott Laboratories (NYSE: ABT) announced an agreement to buy Alere Inc. (NYSE: ALR) for $5.8 billion on February 1. However, Alere has since announced that it is suing Abbot over the merger deal. Abbott has refuted the complaints and is "continuing with its efforts to acquire regulatory approvals."
  • Gilead Sciences, Inc. (NASDAQ: GILD) announced the acquisition of Nimbus Apollo, Inc., which was a wholly-owned subsidiary of Nimbus Therapeutics, and its Acetyl-CoA Carboxylase inhibitor program for $1.2 billion on April 4.
  • AbbVie Inc (NYSE: ABBV) announced it would acquire Stemcentrx for $5.8 billion on April 28.
  • Jazz Pharmaceuticals plc - Ordinary Shares (NASDAQ: JAZZ) bought Celator Pharmaceuticals Inc (previously traded on the NASDAQ under the ticker CPXX) for $1.5 billion cash announced May 31.
  • Cinven went into an agreement to acquire BioClinica for $1.4 billion on August 22.
  • Pfizer to buy Medivation for $14 billion, announced on August 22.

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Posted-In: Alere Bioclinica Celator CinvenBiotech Health Care M&A General Best of Benzinga

 

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