Deal Library / Pharma BD Deal Intelligence

Metabolic Deals

The Pharma Closeout tracks 46 deals, $172.7B in disclosed deal value, 26 with a post-close Outcome Score for Metabolic.

Median Critic Score: 75  ·  Median Outcome Score: 62

Best outcome: Novo Nordisk A/S / Emisphere Technologies (90)  ·  Weakest outcome: Shire plc / Advanced BioHealing, Inc. (7)

All 46 deals

• Novo Nordisk A/S / Emisphere Technologies — 2020 · $1.4B · Worked — the deal delivered on its rationale.
• Roche Holding AG / Corange Ltd. (Boehringer Mannheim Group) — 1997 · $11.0B · Worked — the deal delivered on its rationale.
• Sanofi SA / Genzyme Corporation — 2011 · $20.1B · Worked — the deal delivered on its rationale.
• Novo Holdings A/S / Catalent (manufacturing sites) — 2024 · $11.0B · Worked — the deal delivered on its rationale.
• AstraZeneca PLC / Bristol-Myers Squibb Company / Amylin diabetes alliance — 2012 · $3.5B · Worked — the deal delivered on its rationale.
• Roche Holding AG / Carmot Therapeutics Inc. — 2023 · $2.7B · Largely worked — most objectives met.
• Takeda Pharmaceutical Company Ltd. / Nycomed — 2011 · $13.7B · Largely worked — most objectives met.
• Novo Nordisk A/S / Vivtex Inc. — 2026 · $2.1B · Largely worked — most objectives met.
• Vertex Pharmaceuticals Incorporated / Crinetics Pharmaceuticals, Inc. — 2026 · $10.0B · Largely worked — most objectives met.
• Novo Nordisk A/S / Dicerna Pharmaceuticals, Inc. — 2021 · $3.3B · Largely worked — most objectives met.
• AstraZeneca PLC / Bristol-Myers Squibb diabetes alliance assets — 2013 · $4.3B · Largely worked — most objectives met.
• Roche Holding AG / Zealand Pharma A/S — 2025 · $5.3B · Largely worked — most objectives met.
• Eli Lilly and Company / Versanis Bio — 2023 · $1.9B · Largely worked — most objectives met.
• AstraZeneca PLC / CSPC Pharmaceutical Group Ltd. — 2026 · $18.5B · Largely worked — most objectives met.
• Novo Nordisk A/S / Inversago Pharma — 2023 · $1.1B · Largely worked — most objectives met.
• Vertex Pharmaceuticals Inc. / ViaCyte Inc. — 2022 · $320M · Largely worked — most objectives met.
• CSL Limited / Vifor Pharma Group — 2021 · $11.7B · Mixed — partial payoff, real shortfalls.
• King Pharmaceuticals Inc. / Jones Pharma Incorporated — 2000 · $3.4B · Mixed — partial payoff, real shortfalls.
• Eli Lilly and Company / Prevail Therapeutics — 2020 · $1.0B · Mixed — partial payoff, real shortfalls.
• Roche Holding AG / Alnylam Pharmaceuticals Inc. — 2007 · $1.0B · Underwhelmed — fell short of the thesis.
• Bristol-Myers Squibb Company / Amylin Pharmaceuticals — 2012 · $5.3B · Underwhelmed — fell short of the thesis.
• Roche Holding AG / Medingo Ltd. — 2010 · $160M · Did not work — the deal failed to deliver.
• Merck & Co. Inc. / SmartCells, Inc. — 2010 · $500M · Did not work — the deal failed to deliver.
• GlaxoSmithKline plc / Laboratorios Phoenix — 2010 · $253M · Did not work — the deal failed to deliver.
• Novartis AG / Spinifex Pharmaceuticals, Inc. — 2015 · $700M · Did not work — the deal failed to deliver.
• Shire plc / Advanced BioHealing, Inc. — 2011 · $750M · Did not work — the deal failed to deliver.
• Bayer AG / Perfuse Therapeutics, Inc. — 2026 · $2.5B
• Pfizer Inc. / Metsera, Inc. — 2025 · $10.0B
• Novo Nordisk A/S / Lexicon Pharmaceuticals Inc. — 2025 · $1.0B
• Hercules CM NewCo Inc. (Kailera Therapeutics) / Jiangsu Hengrui Pharmaceuticals Co. Ltd. — 2024 · $6.0B
• Eli Lilly and Company / HAYA Therapeutics SA — 2024 · $1.0B
• Vertex Pharmaceuticals Incorporated / CRISPR Therapeutics AG — 2023 · $330M
• AstraZeneca PLC / Eccogene (Shanghai) Co., Ltd. — 2023 · $2.0B
• Eli Lilly and Company / Sigilon Therapeutics Inc. — 2023 · $310M
• Novo Nordisk A/S / Aspect Biosystems Ltd. — 2023 · $2.7B
• Eli Lilly and Company / Nimbus Therapeutics LLC — 2022 · $496M
• Eli Lilly and Company / Sosei Group Corp. (Sosei Heptares) — 2022 · $730M
• Eli Lilly and Company / Protomer Technologies — 2021 · $1.0B
• AbbVie Inc. / REGENXBIO Inc. — 2021 · $1.8B
• PTC Therapeutics Inc. / Censa Pharmaceuticals — 2020 · $268M
• Bristol-Myers Squibb Company / Anokion SA / Kanyos Bio Inc. — 2019 · $1.3B
• Sanofi SA / Hanmi Pharmaceutical Co., Ltd. (Quantum Project) — 2015 · $4.2B
• Eli Lilly and Company / Adocia SA — 2014 · $570M
• Sanofi SA / MannKind Corporation — 2014 · $925M
• Pfizer Inc. / Biocon Limited (biosimilar insulin license) — 2010 · $350M
• Eli Lilly and Company / Acrux Limited (AXIRON license) — 2010 · $335M

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