Pharma BD Deal Intelligence

Forest Laboratories, Inc. / Clinical Data, Inc.

2011 · Acquisition/Merger · $1.2B · Complete

WRONG BY 34 POINTS
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The coverage arc

Feb 22, 2011 Business Wire (Forest/Clinical Data) Bullish

Forest agreed to acquire Clinical Data for $30/share cash plus contingent consideration up to $6/share tied to Viibryd commercial milestones, totaling…

Feb 23, 2011 Chain Drug Review Neutral

Forest agreed to purchase Clinical Data for $30 per share plus up to $6 per share on commercial milestones; CEO Howard Solomon said the transaction is…

Feb 23, 2011 Wikipedia / Piper Jaffray-Bloomberg synthesis Bearish

Piper Jaffray analyst David Amsellem (via Bloomberg) called Forest's $1B+ Viibryd sales target unrealistic given heavy generic SSRI penetration, projecting…

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

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Forest Labs agreed to acquire Clinical Data for $30/share cash plus contingent consideration of up to $6/share tied to Viibryd commercial milestones, total ~$1.2B fully diluted. Viibryd had been FDA-approved for MDD on January 21, 2011.

Did it work? Outcome assessment

Strategic verdict
Partially Achieved
Financial impact
Dilutive
Pipeline outcome
Assets Advanced

Key facts

Related deals — scored

DealYearValueOutcome
Forest Laboratories, Inc. / Clinical Data, Inc. (this deal)2011$1.2B37
Forest Laboratories, Inc. / Cerexa Inc.2006$580M47
Forest Laboratories, Inc. / Aptalis Pharma Inc.2014$2.9B25
Novartis AG / Advanced Accelerator Applications S.A.2017$3.9B98
Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program)2015$250M91
Cephalon Inc. / Laboratoire L. Lafon S.A. (Group Lafon)2000$450M89
Teva Pharmaceutical Industries Ltd. / Auspex Pharmaceuticals2015$3.5B86

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