Pharma BD Deal Intelligence
A ~$970M-$1.0B bet on a single Phase 3 asset (abiraterone) became Zytiga — a drug that peaked at $3.5B in annual sales (2018) and generated well over $15B in cumulative revenue before patent expiry, making this one of the highest-ROI oncology acquisitions of its era.
Full analysis, sources & comparables →William Hait of Ortho Biotech Oncology framed abiraterone as a strategic anchor that would 'strengthen our growing capabilities toward a leadership position in…
Phase 3 COU-AA-301 demonstrated 14.8 vs 10.9 month median OS in docetaxel-pretreated mCRPC, leading to early trial unblinding and FDA approval April 2011.
Source summaries from our enrichment pipeline; follow links for originals.
All 4 sources with sentiment breakdown →
$43/share tender; ~$894M equity + cash on hand = ~$970M. Acquired abiraterone (Zytiga) for prostate cancer. Closed Q3 2009. Source: J&J IR, SEC, Cravath, Fierce Biotech.
A ~$970M-$1.0B bet on a single Phase 3 asset (abiraterone) became Zytiga — a drug that peaked at $3.5B in annual sales (2018) and generated well over $15B in cumulative revenue before patent expiry, making this one of the highest-ROI oncology acquisitions of its era.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Johnson & Johnson / Cougar Biotechnology, Inc. (this deal) | 2009 | $970M | 91 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $9.0B | 96 |
| Johnson & Johnson / Centocor Inc. | 1999 | $4.9B | 92 |
| Johnson & Johnson / Actelion Ltd | 2017 | $30.0B | 90 |
| Johnson & Johnson / Aragon Pharmaceuticals Inc. | 2013 | $1.0B | 89 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $350M | 83 |
| Johnson & Johnson / Genmab A/S | 2012 | $3.0B | 77 |
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More: 2009 deals · Johnson & Johnson deals