Pharma BD Deal Intelligence
A $621M bet on two Phase 2 dermatology assets that both flopped — Allergan wrote off $522M (84% of deal value) within 18 months of close.
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Vitae traded at around $8 a share before the announcement; Allergan's $21-a-share cash offer represents a premium of roughly 160% as it further expands its…
Pharmaceutical Technology reported the $639M deal at $21/share with neutral framing — noting both lead assets were Phase 2 stage and the platform value rested…
Factual trade coverage reproducing executive framing: both the VTP-43742 and VTP-38543 programs 'offer the potential for highly differentiated mechanisms of…
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Allergan acquired Vitae Pharmaceuticals for $21.00/share, ~$639M total. Adds first-in-class oral RORgammaT inhibitor VTP-43742 (psoriasis) and topical LXRbeta agonist VTP-38543 (atopic dermatitis) plus Vitae's Contour drug discovery platform to Allergan's medical dermatology pipeline. Closed October 25, 2016.
A $621M bet on two Phase 2 dermatology assets that both flopped — Allergan wrote off $522M (84% of deal value) within 18 months of close.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Allergan plc / Vitae Pharmaceuticals, Inc. (this deal) | 2016 | $639M | 13 |
| 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: 2016 deals · Allergan plc deals · Dermatology deals