Deal Library / Pharma BD Deal Intelligence

Pharma Deals of 2011

The Pharma Closeout tracks 36 deals, $91.9B in disclosed deal value, 32 with a post-close Outcome Score for the year 2011.

Median Critic Score: 75  ·  Median Outcome Score: 47

Best outcome: Gilead Sciences Inc. / Pharmasset Inc. (98)  ·  Weakest outcome: Shire plc / Advanced BioHealing, Inc. (7)

All 36 deals

• Gilead Sciences Inc. / Pharmasset Inc. — 2011 · $11.2B · Worked — the deal delivered on its rationale.
• Eli Lilly and Company / Boehringer Ingelheim GmbH — 2011 · $444M · Worked — the deal delivered on its rationale.
• Sanofi SA / Genzyme Corporation — 2011 · $20.1B · Worked — the deal delivered on its rationale.
• Johnson & Johnson / Synthes Inc. — 2011 · $19.7B · Worked — the deal delivered on its rationale.
• Boehringer Ingelheim GmbH / Amgen Inc. (Fremont manufacturing facility) — 2011 · Worked — the deal delivered on its rationale.
• Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd. — 2011 · Worked — the deal delivered on its rationale.
• Takeda Pharmaceutical Company Ltd. / Nycomed — 2011 · $13.7B · Largely worked — most objectives met.
• Pfizer Inc. / Capsugel (Pfizer divestiture to KKR) — 2011 · $2.4B · Largely worked — most objectives met.
• Grifols, S.A. / Talecris Biotherapeutics Holdings Corp. — 2011 · $3.4B · Largely worked — most objectives met.
• Roche Holding AG / mtm laboratories AG — 2011 · $269M · Largely worked — most objectives met.
• Valeant Pharmaceuticals International, Inc. / iNova Pharmaceuticals — 2011 · $700M · Largely worked — most objectives met.
• Pfizer Inc. / Alacer Corp. — 2011 · Largely worked — most objectives met.
• Roche Holding AG / Verum Diagnostica GmbH — 2011 · $17M · Mixed — partial payoff, real shortfalls.
• Daiichi Sankyo Company, Limited / Plexxikon Inc. — 2011 · $935M · Mixed — partial payoff, real shortfalls.
• Cubist Pharmaceuticals, Inc. / Adolor Corporation — 2011 · $415M · Mixed — partial payoff, real shortfalls.
• Bausch Health / Sanitas — 2011 · $442M · Mixed — partial payoff, real shortfalls.
• Teva Pharmaceutical Industries Ltd. / Cephalon Inc. — 2011 · $6.8B · Mixed — partial payoff, real shortfalls.
• Kyowa Hakko Kirin Co., Ltd. / ProStrakan Group plc — 2011 · $474M · Underwhelmed — fell short of the thesis.
• Watson Pharmaceuticals, Inc. / Specifar Pharmaceuticals S.A. — 2011 · $562M · Underwhelmed — fell short of the thesis.
• Forest Laboratories, Inc. / Clinical Data, Inc. — 2011 · $1.2B · Underwhelmed — fell short of the thesis.
• Amgen Inc. / BioVex Group, Inc. — 2011 · $1.0B · Underwhelmed — fell short of the thesis.
• Valeant Pharmaceuticals International, Inc. / Dermik Laboratories (Sanofi dermatology unit) — 2011 · $425M · Underwhelmed — fell short of the thesis.
• Gilead Sciences, Inc. / Calistoga Pharmaceuticals, Inc. — 2011 · $600M · Underwhelmed — fell short of the thesis.
• Takeda Pharmaceutical Company Ltd. / Intellikine, Inc. — 2011 · $310M · Underwhelmed — fell short of the thesis.
• Salix Pharmaceuticals, Ltd. / Oceana Therapeutics, Inc. — 2011 · $300M · Did not work — the deal failed to deliver.
• Merck & Co. Inc. / Inspire Pharmaceuticals, Inc. — 2011 · $430M · Did not work — the deal failed to deliver.
• Pfizer Inc. / Icagen, Inc. — 2011 · $56M · Did not work — the deal failed to deliver.
• Pfizer Inc. / Excaliard Pharmaceuticals, Inc. — 2011 · Did not work — the deal failed to deliver.
• Roche Holding AG / Anadys Pharmaceuticals, Inc. — 2011 · $230M · Did not work — the deal failed to deliver.
• Endo Pharmaceuticals Holdings Inc. / American Medical Systems Holdings, Inc. — 2011 · $2.9B · Did not work — the deal failed to deliver.
• Astellas Pharma Inc. / Maxygen, Inc. (Perseid Therapeutics stake) — 2011 · $76M · 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 / Onyx Pharmaceuticals, Inc. — 2011 · $160M
• Gilead Sciences, Inc. / Tibotec Pharmaceuticals (Janssen) — 2011
• Valeant Pharmaceuticals International, Inc. / Sanitas Group AB — 2011 · $440M
• Vertex Pharmaceuticals Incorporated / Alios BioPharma, Inc. — 2011 · $1.5B

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