Pharma BD Deal Intelligence

Cephalon Inc. / Arana Therapeutics Limited

2009 · Acquisition/Merger · $203M · Complete

WRONG BY 71 POINTS

Cephalon's $223M bet on Arana's biologics platform produced no approved drug — lead asset placulumab (ART621) was discontinued, and Cephalon itself was absorbed by Teva just two years after closing.

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Ranks computed across 828 graded deals (Critic + Outcome Score both present).

The coverage arc

Feb 27, 2009 Cephalon Form 8-K Ex-99.1 (acquisition announcement) Bullish

Cephalon to acquire Arana Therapeutics for A$1.40 cash per share (~A$318M / US$207M), a ~70% premium to the 90-day VWAP; Arana directors unanimously recommend…

Feb 27, 2009 SEC Filing - Cephalon Takeover Offer (Ex. 99.1) Neutral

Cephalon's filed takeover offer for Arana detailed cash consideration, conditional sweetener (additional AU$0.05/share at 90% acceptance), and the strategic…

Aug 10, 2009 FierceBiotech Bullish

Cephalon completed its AU$318M / ~$202.7M acquisition of Arana, gaining a domain-antibody anti-TNF (ART621) in Phase 2, plus a portfolio of inflammatory and…

Source summaries from our enrichment pipeline; follow links for originals.

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AU$318M / ~$202.7M cash takeover offer for Australian biotech (anti-TNF, antibody platform). Closed Aug 10, 2009. Source: SEC, GenEngNews.

Did it work? Outcome assessment

Cephalon's $223M bet on Arana's biologics platform produced no approved drug — lead asset placulumab (ART621) was discontinued, and Cephalon itself was absorbed by Teva just two years after closing.

Strategic verdict
Failed to Achieve

Key facts

Related deals — scored

DealYearValueOutcome
Cephalon Inc. / Arana Therapeutics Limited (this deal)2009$203M22
Cephalon Inc. / Laboratoire L. Lafon S.A. (Group Lafon)2000$450M89
Cephalon Inc. / Salmedix, Inc.2005$160M89
Cephalon Inc. / Group Lafon (France)2001$450M80
Cephalon Inc. / Cell Therapeutics, Inc.2005$70M74
Cephalon Inc. / Anesta Corp.2001$444M65
Cephalon Inc. / Anesta Corp.2000$444M64

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