Deal Library / Pharma BD Deal Intelligence

Multiple (undisclosed) Deals

The Pharma Closeout tracks 33 deals, $500.9B in disclosed deal value, 26 with a post-close Outcome Score for Multiple (undisclosed).

Median Critic Score: 75  ·  Median Outcome Score: 62

Best outcome: Thermo Fisher Scientific Inc. / Life Technologies Corporation (84)  ·  Weakest outcome: Bayer AG / Monsanto Company (35)

All 33 deals

• Thermo Fisher Scientific Inc. / Life Technologies Corporation — 2013 · $15.1B · Worked — the deal delivered on its rationale.
• Merck KGaA / Sigma-Aldrich Corporation — 2014 · $17.0B · Worked — the deal delivered on its rationale.
• Thermo Fisher Scientific Inc. / PPD Inc. — 2021 · $17.4B · Worked — the deal delivered on its rationale.
• Becton, Dickinson and Company / C.R. Bard Inc. — 2017 · $24.0B · Worked — the deal delivered on its rationale.
• Johnson & Johnson / Synthes Inc. — 2011 · $19.7B · Worked — the deal delivered on its rationale.
• Danaher Corporation / GE Life Sciences Biopharma Business (now Cytiva) — 2019 · $21.4B · Worked — the deal delivered on its rationale.
• Roche Holding AG / Halozyme Therapeutics, Inc. — 2017 · $190M · Worked — the deal delivered on its rationale.
• Abbott Laboratories / St. Jude Medical — 2016 · $25.0B · Worked — the deal delivered on its rationale.
• GlaxoSmithKline plc / Novartis Consumer Healthcare JV — 2018 · $13.0B · Largely worked — most objectives met.
• Bayer AG / Merck Consumer Health — 2014 · $14.2B · Largely worked — most objectives met.
• Novo Holdings A/S / Catalent, Inc. — 2016 · $16.5B · Largely worked — most objectives met.
• Medtronic plc / Covidien plc — 2014 · $42.9B · Largely worked — most objectives met.
• Zimmer Holdings Inc. / Biomet Inc. — 2014 · $13.3B · Largely worked — most objectives met.
• Pfizer Inc. / Pharmacia Corporation — 2003 · $60.0B · Largely worked — most objectives met.
• Novartis AG / Chai Discovery, Inc. — 2026 · Mixed — partial payoff, real shortfalls.
• Novartis AG / Orionis Biosciences, Inc. — 2026 · $1.4B · Mixed — partial payoff, real shortfalls.
• Eli Lilly and Company / Haisco Pharmaceutical Group Co., Ltd. — 2026 · $3.1B · Mixed — partial payoff, real shortfalls.
• Alnylam Pharmaceuticals, Inc. / Inceptive Nucleics, Inc. — 2026 · $2.0B · Mixed — partial payoff, real shortfalls.
• Johnson & Johnson / Pfizer Consumer Healthcare — 2006 · $16.6B · Mixed — partial payoff, real shortfalls.
• Procter & Gamble Company / Gillette Company — 2005 · $57.0B · Mixed — partial payoff, real shortfalls.
• Takeda Pharmaceutical Company Limited / Insilico Medicine Inc. — 2026 · $600M · Mixed — partial payoff, real shortfalls.
• ICON plc / PRA Health Sciences Inc. — 2021 · $12.0B · Mixed — partial payoff, real shortfalls.
• Baxter International Inc. / Hillrom Holdings Inc. — 2021 · $12.4B · Mixed — partial payoff, real shortfalls.
• Schering-Plough Corp. / Organon BioSciences N.V. (Akzo Nobel) — 2007 · $14.5B · Mixed — partial payoff, real shortfalls.
• Mylan N.V. / Upjohn Inc. (Pfizer) — 2019 · $12.0B · Underwhelmed — fell short of the thesis.
• Bayer AG / Monsanto Company — 2016 · $63.0B · Underwhelmed — fell short of the thesis.
• Ligand Pharmaceuticals Incorporated / XOMA Royalty Corporation — 2026 · $739M
• Sanofi SA / BioMap Holdings Limited — 2023 · $1.0B
• Boehringer Ingelheim International GmbH / Ginkgo Bioworks Holdings, Inc. — 2023 · $405M
• Sanofi SA / Atomwise Inc. — 2022 · $1.0B
• Sanofi SA / Insilico Medicine Inc. — 2022 · $1.2B
• Roche Holding AG / Sosei Group Corporation (Sosei Heptares) — 2019 · $1.0B
• AbbVie Inc. / Halozyme Therapeutics, Inc. (ENHANZE platform) — 2015 · $1.2B

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