Deal Library / Pharma BD Deal Intelligence

Pharma Deals of 2013

The Pharma Closeout tracks 46 deals, $101.2B in disclosed deal value, 41 with a post-close Outcome Score for the year 2013.

Median Critic Score: 86  ·  Median Outcome Score: 45

Best outcome: Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital) (91)  ·  Weakest outcome: Celgene Corporation / OncoMed Pharmaceuticals Inc. (10)

All 46 deals

• Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital) — 2013 · $1.3B · Worked — the deal delivered on its rationale.
• Stryker Corporation / MAKO Surgical Corp. — 2013 · $1.6B · Worked — the deal delivered on its rationale.
• DPx Holdings B.V. (JLL Partners 51% / Royal DSM 49%) / Patheon Inc. + DSM Pharmaceutical Products — 2013 · $2.6B · Worked — the deal delivered on its rationale.
• Johnson & Johnson / Aragon Pharmaceuticals Inc. — 2013 · $1.0B · Worked — the deal delivered on its rationale.
• bioMerieux SA / BioFire Diagnostics Inc. — 2013 · $485M · Worked — the deal delivered on its rationale.
• The Medicines Company / Alnylam Pharmaceuticals Inc. — 2013 · Worked — the deal delivered on its rationale.
• Madison Dearborn Partners / Ikaria Inc. — 2013 · $1.6B · Worked — the deal delivered on its rationale.
• Thermo Fisher Scientific Inc. / Life Technologies Corporation — 2013 · $15.1B · Worked — the deal delivered on its rationale.
• Otsuka Pharmaceutical Co. Ltd. / Astex Pharmaceuticals Inc. — 2013 · $886M · Worked — the deal delivered on its rationale.
• Biogen Idec Inc. / Elan Corporation plc (Tysabri rights) — 2013 · $3.2B · Worked — the deal delivered on its rationale.
• AstraZeneca PLC / Bristol-Myers Squibb diabetes alliance assets — 2013 · $4.3B · Largely worked — most objectives met.
• Amgen Inc. / Onyx Pharmaceuticals — 2013 · $10.4B · Largely worked — most objectives met.
• Actavis Inc. / Warner Chilcott plc — 2013 · $8.5B · Largely worked — most objectives met.
• AstraZeneca PLC / Pearl Therapeutics Inc. — 2013 · $1.1B · Largely worked — most objectives met.
• Shire plc / ViroPharma Incorporated — 2013 · $4.2B · Mixed — partial payoff, real shortfalls.
• Roche Holding AG / Constitution Medical Investors Inc. — 2013 · $220M · Mixed — partial payoff, real shortfalls.
• Jazz Pharmaceuticals plc / Gentium S.p.A. — 2013 · $1.0B · Mixed — partial payoff, real shortfalls.
• Otsuka Pharmaceutical / Astex Pharmaceuticals — 2013 · $886M · Mixed — partial payoff, real shortfalls.
• Otsuka Pharmaceutical / Astex Therapeutics — 2013 · $886M · Mixed — partial payoff, real shortfalls.
• Grifols S.A. / Novartis Diagnostics (blood transfusion unit) — 2013 · $1.7B · Mixed — partial payoff, real shortfalls.
• Mylan Inc. / Agila Specialties (Strides Arcolab) — 2013 · $1.8B · Mixed — partial payoff, real shortfalls.
• Cubist Pharmaceuticals Inc. / Optimer Pharmaceuticals Inc. — 2013 · $801M · Mixed — partial payoff, real shortfalls.
• Cubist Pharmaceuticals Inc. / Trius Therapeutics Inc. — 2013 · $707M · Underwhelmed — fell short of the thesis.
• GlaxoSmithKline plc / GlaxoSmithKline Pharmaceuticals Limited (India) — minority stake increase — 2013 · $1.0B · Underwhelmed — fell short of the thesis.
• Pharmstandard OJSC / Bever Pharmaceutical Pte Ltd — 2013 · $590M · Underwhelmed — fell short of the thesis.
• Bayer AG / Algeta ASA — 2013 · $2.9B · Underwhelmed — fell short of the thesis.
• Stryker Corporation / Trauson Holdings Company Limited — 2013 · $764M · Underwhelmed — fell short of the thesis.
• Valeant Pharmaceuticals International Inc. / Bausch + Lomb — 2013 · $8.7B · Underwhelmed — fell short of the thesis.
• Perrigo Company plc / Elan Corporation plc — 2013 · $8.6B · Underwhelmed — fell short of the thesis.
• Sorrento Therapeutics Inc. / Concortis Biosystems Corp. — 2013 · $11M · Underwhelmed — fell short of the thesis.
• Novo A/S (Novo Holdings) / Xellia Pharmaceuticals — 2013 · $700M · Underwhelmed — fell short of the thesis.
• AstraZeneca PLC (MedImmune) / Spirogen Limited — 2013 · $440M · Underwhelmed — fell short of the thesis.
• Salix Pharmaceuticals Ltd. / Santarus Inc. — 2013 · $2.6B · Did not work — the deal failed to deliver.
• Akorn Inc. / Hi-Tech Pharmacal Co. Inc. — 2013 · $640M · Did not work — the deal failed to deliver.
• Endo Health Solutions Inc. / Paladin Labs Inc. — 2013 · $1.6B · Did not work — the deal failed to deliver.
• AstraZeneca PLC (MedImmune) / Amplimmune Inc. — 2013 · $500M · Did not work — the deal failed to deliver.
• Endo Health Solutions Inc. / Boca Pharmacal LLC — 2013 · $225M · Did not work — the deal failed to deliver.
• Allergan Inc. / MAP Pharmaceuticals Inc. — 2013 · $958M · Did not work — the deal failed to deliver.
• Watson Pharmaceuticals (Actavis Inc.) / Uteron Pharma SA — 2013 · $305M · Did not work — the deal failed to deliver.
• AstraZeneca PLC / Omthera Pharmaceuticals Inc. — 2013 · $443M · Did not work — the deal failed to deliver.
• Celgene Corporation / OncoMed Pharmaceuticals Inc. — 2013 · $3.3B · Did not work — the deal failed to deliver.
• AstraZeneca PLC / Moderna Therapeutics — 2013 · $420M
• Roche Holding AG / Prothena Corporation plc — 2013 · $630M
• Endo Health Solutions Inc. / NuPathe Inc. — 2013 · $271M
• Elan Corporation plc / Theravance Inc. (royalty interest) — 2013 · $1.0B
• Celgene Corporation / Forma Therapeutics Holdings LLC — 2013 · $200M

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