Pharma BD Deal Intelligence
Total loss: rapastinel flopped in Phase 3 in 2019, triggering a $2.47B goodwill impairment against a ~$0.6B upfront purchase — one of the clearest value-destroying CNS bets of the decade.
Full analysis, sources & comparables →CEO Saunders: 'The acquisition of Naurex is a great fit for Allergan and a compelling and exciting investment. We expect Naurex will enhance Allergan's mental…
Rapastinel failed three Phase 3 acute studies vs placebo; CEO Saunders 'deeply disappointed.' Credit Suisse: 'Another pipeline failure will increase investor…
Allergan's NMDA drug rapastinel flops in Phase 3 depression studies. R&D chief Nicholson: 'We are deeply disappointed with these results' — the lead asset from…
Source summaries from our enrichment pipeline; follow links for originals.
All 8 sources with sentiment breakdown →
Allergan acquired Naurex for $560M upfront net of cash plus undisclosed R&D and sales-threshold milestones, gaining rapastinel and NRX-1074, novel NMDA modulators for depression. Closed August 31, 2015. Rapastinel later failed Phase 3 in 2019.
Total loss: rapastinel flopped in Phase 3 in 2019, triggering a $2.47B goodwill impairment against a ~$0.6B upfront purchase — one of the clearest value-destroying CNS bets of the decade.
Assessment window: 10yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Allergan plc / Naurex, Inc. (this deal) | 2015 | $560M | 14 |
| Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program) | 2015 | $250M | 91 |
| Allergan plc / SkinMedica, Inc. | 2012 | $375M | 55 |
| Allergan plc / Inamed Corporation | 2005 | $3.2B | 50 |
| Allergan plc / Oculeve, Inc. | 2015 | $250M | 33 |
| Allergan plc / Zeltiq Aesthetics, Inc. | 2017 | $2.5B | 32 |
| Allergan plc / Kythera Biopharmaceuticals, Inc. | 2015 | $2.1B | 23 |
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More: 2015 deals · Allergan plc deals · Neurology deals