Pharma BD Deal Intelligence

DPx Holdings B.V. (JLL Partners 51% / Royal DSM 49%) / Patheon Inc. + DSM Pharmaceutical Products

2013 · Acquisition/Merger · $2.6B · Complete

CALLED IT — OFF BY 2
Full analysis, sources & comparables →

The coverage arc

Nov 19, 2013 FiercePharma Bullish

JLL executives believed the fragmented contract manufacturing industry was ripe for a roll-up at a time when pharma was looking for partners with a spectrum of…

Nov 19, 2013 Pharma Manufacturing Neutral

DSM characterized the move as a key step in the strategic transformation of its Pharma activities into partnerships, monetizing DPP while retaining 49% upside…

Mar 11, 2014 JLL Partners Bullish

JLL Partners closed the merger forming DPx Holdings, calling it a transformative platform for CDMO consolidation.

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

All 5 sources with sentiment breakdown →

JLL Partners and Royal DSM created DPx Holdings BV (later Patheon NV) by combining DSM Pharmaceutical Products and Patheon in $2.6B transaction; Patheon enterprise value ~$1.98B at $9.32/share.

Did it work? Outcome assessment

Strategic verdict
Achieved Stated Rationale
Financial impact
Accretive

Key facts

Related deals — scored

DealYearValueOutcome
DPx Holdings B.V. (JLL Partners 51% / Royal DSM 49%) / Patheon Inc. + DSM Pharmaceutical Products (this deal)2013$2.6B90
Watson Pharmaceuticals (Actavis Inc.) / Actavis plc2012$5.9B97
Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital)2013$1.3B91
Stryker Corporation / MAKO Surgical Corp.2013$1.6B91
Quintiles Transnational Holdings Inc. / IMS Health Holdings, Inc.2016$17.6B91
Pamplona Capital Management, LLP / PAREXEL International Corporation2017$5.0B90
Thermo Fisher Scientific Inc. / Patheon N.V.2017$7.2B89

Compare all 7 side-by-side →

See the full interactive analysis, sources & comparables →