Pharma BD Deal Intelligence

Nycomed / Altana Pharma AG

2007 · Acquisition/Merger · $4.5B · Complete

CALLED IT — OFF BY 20

Transformed Nycomed into a top-25 global pharma overnight, but its core acquired asset (pantoprazole/Protonix) hit the generic cliff within a year of close; the visible PE payoff came from the 2011 Takeda exit of the whole group, not cleanly from the Altana assets alone.

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The coverage arc

Sep 15, 2006 PharmiWeb Bearish

Setbacks for ciclesonide (Alvesco) and roflumilast (Daxas) in the US 'took some of the lustre off' Altana's near-term pipeline, raising questions about…

Dec 19, 2006 Wikipedia (sourced from German press) Bearish

Shareholder activists argued Altana management had under-invested in the pharma business and failed to develop successor products before pantoprazole's patent…

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

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EUR 4.5B / ~$5.7B. Acquired Jan 1, 2007 effective; deal announced 2006 closed early 2007. Pantoprazole, respiratory franchise. Source: Pharma Times, C&EN, PitchBook.

Did it work? Outcome assessment

Transformed Nycomed into a top-25 global pharma overnight, but its core acquired asset (pantoprazole/Protonix) hit the generic cliff within a year of close; the visible PE payoff came from the 2011 Takeda exit of the whole group, not cleanly from the Altana assets alone.

Strategic verdict
Partially Achieved

Key facts

Related deals — scored

DealYearValueOutcome
Nycomed / Altana Pharma AG (this deal)2007$4.5B58
Nycomed / Altana Pharma AG2006$5.7B59
Nycomed / Bradley Pharmaceuticals2007$346M48
Sanofi SA / Regeneron Pharmaceuticals, Inc.2007$1.0B97
Shire plc / New River Pharmaceuticals Inc.2007$2.6B88
Roche Holding AG / Ventana Medical Systems Inc.2007$3.4B88
AstraZeneca PLC / MedImmune Inc.2007$15.6B82

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