Pharma BD Deal Intelligence

Concordia Healthcare Corp. / Amdipharm Mercury Limited (AMCo)

2015 · Acquisition/Merger · $3.5B · Complete

WRONG BY 34 POINTS
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Top 25 biggest flops we track

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

The coverage arc

Sep 08, 2015 BioSpace Neutral

Concordia framed AMCo as a transatlantic specialty platform; commentators flagged the Valeant comparison and high leverage ratio as risk factors.

Sep 08, 2015 Fierce Pharma Neutral

Deal characterized as creating a 'global platform' with 190+ molecules and 100+ country reach, financed with $2.8B debt + $520M equity raise.

Nov 21, 2017 Advanz Pharma (formerly Concordia) Investor Relations Bearish

UK CMA issued Statement of Objections to Concordia on liothyronine pricing — one of the legacy AMCo molecules — confirming post-deal regulatory liability.

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

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Concordia Healthcare acquired Amdipharm Mercury Limited (AMCo) from Cinven for approximately $3.5B (~$1.2B cash + 8.49M shares + $1.4B assumed debt + up to $220M earn-out), gaining 190+ off-patent specialty products with reach in 100+ countries. Closed October 21, 2015. Concordia later collapsed under debt and rebranded as Advanz Pharma.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Pipeline outcome
Mixed

Key facts

Related deals — scored

DealYearValueOutcome
Concordia Healthcare Corp. / Amdipharm Mercury Limited (AMCo) (this deal)2015$3.5B16
Watson Pharmaceuticals (Actavis Inc.) / Schein Pharmaceutical Inc.2000$674M65
Teva Pharmaceutical Industries Ltd. / Novopharm Limited2000$600M62
Cephalon Inc. / Mepha AG2010$615M23
Takeda Pharmaceutical Company Ltd. / Nabla Bio, Inc.2025$1.0B
Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program)2015$250M91
Roche Holding AG / Foundation Medicine, Inc.2015$1.1B87

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