Pharma BD Deal Intelligence

Blackstone Group Inc. / Alnylam Pharmaceuticals Inc.

2020 · Co-Development · $2.0B · Complete

Outcome grade pending — assessed 5 years post-close.

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The coverage arc

Jan 06, 2020 Fierce Pharma Bullish

Novartis closed its $9.7 billion acquisition of The Medicines Company in January 2020, picking up inclisiran (a Phase 3 siRNA targeting PCSK9 jointly developed…

Apr 13, 2020 SEC EDGAR — Alnylam 8-K (Blackstone collaboration) Neutral

On April 13, 2020, Alnylam Pharmaceuticals, Inc. entered into a series of agreements with Blackstone affiliates: a Royalty Purchase Agreement (50% of royalties…

Feb 12, 2026 Alnylam Q4 & FY2025 Financial Results Bullish

Alnylam reported its first profitable full year in 2025: total net product revenue $2.987B (+81% YoY), led by AMVUTTRA $2.314B (driven by US ATTR-CM demand),…

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Blackstone and Alnylam entered a $2B strategic financing collaboration. Blackstone Life Sciences purchased 50% of Alnylam's inclisiran royalties and commercial milestones for $1B and committed up to $150M for vutrisiran and ALN-AGT R&D, plus $100M equity. GSO Capital Partners provided up to $750M senior secured term loan. One of the largest private biotech financings ever.

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Key facts

Related deals — scored

DealYearValueOutcome
Blackstone Group Inc. / Alnylam Pharmaceuticals Inc. (this deal)2020$2.0B
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Astra AB / Zeneca Group plc1998$35.0B94
Merck & Co. Inc. / Acceleron Pharma Inc.2021$11.5B90
Johnson & Johnson / Actelion Ltd2017$30.0B90
Eli Lilly and Company / Boehringer Ingelheim GmbH2011$444M89

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