Pharma BD Deal Intelligence

Allergan plc / MAP Pharmaceuticals Inc.

2013 · Acquisition/Merger · $958M · Complete

WRONG BY 32 POINTS
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The coverage arc

Jan 23, 2013 GEN (Genetic Engineering & Biotechnology News) Bullish

GEN positioned the deal positively as expanding Allergan's neurology depth, complementing Botox chronic migraine with an acute-migraine asset and adding MAP's…

Apr 15, 2013 Drugs.com Bearish

Drugs.com chronicled Levadex's regulatory history — original March 2012 CRL, January 2013 Allergan acquisition, April 2013 second CRL — undercutting the…

Apr 16, 2013 Medscape Bearish

Medscape reported Levadex received a Complete Response Letter from FDA in April 2013 citing CMC and third-party manufacturer inspection issues — the second…

Source summaries from our enrichment pipeline; follow links for originals.

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Allergan to acquire MAP at $25/share (~$958M, 60% premium) to expand neurology/migraine franchise via Levadex orally inhaled DHE; cash tender + back-end merger.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Pipeline outcome
Assets Terminated

Key facts

Related deals — scored

DealYearValueOutcome
Allergan plc / MAP Pharmaceuticals Inc. (this deal)2013$958M18
Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program)2015$250M91
Allergan plc / SkinMedica, Inc.2012$375M55
Allergan plc / Inamed Corporation2005$3.2B50
Allergan plc / Oculeve, Inc.2015$250M33
Allergan plc / Zeltiq Aesthetics, Inc.2017$2.5B32
Allergan plc / Kythera Biopharmaceuticals, Inc.2015$2.1B23

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