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A $1.5B bet on a single vaccine that never became the blockbuster it was priced for — and was still limping along as a niche product 20+ years later
Full analysis, sources & comparables →MedImmune CEO David Mott: adding FluMist to Synagis could let MedImmune 'join the elite group of biotechnology companies with more than one product' with…
MedImmune fattens its pipeline by buying Aviron; the deal is highly dilutive in 2002, neutral in 2003, accretive in 2004 - executives reduced 2002 EPS guidance…
MedImmune acquired Aviron for $1.6B in January 2002 to obtain FluMist; AstraZeneca later acquired MedImmune for $15.6B in 2007.
Source summaries from our enrichment pipeline; follow links for originals.
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MedImmune acquired Aviron in January 2002 in an all-stock transaction valued at approximately $1.5 billion, gaining FluMist, the first intranasal live-attenuated influenza vaccine. The acquisition diversified MedImmune's portfolio beyond its lead product Synagis, and the company brought FluMist to the U.S. market in 2003. Wall Street reacted negatively to the near-term dilution, sending MedImmune shares lower on the news.
A $1.5B bet on a single vaccine that never became the blockbuster it was priced for — and was still limping along as a niche product 20+ years later
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| MedImmune Inc. / Aviron (this deal) | 2002 | $1.5B | 28 |
| MedImmune Inc. / Aviron | 2001 | $1.5B | 36 |
| Roche Holding AG / Chugai Pharmaceutical Co. Ltd. | 2002 | $1.4B | 100 |
| Gilead Sciences Inc. / Triangle Pharmaceuticals Inc. | 2002 | $464M | 96 |
| Amgen Inc. / Immunex Corporation | 2002 | $16.0B | 92 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Bayer AG / BlueRock Therapeutics | 2002 | $600M | 79 |
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