Pharma BD Deal Intelligence
A PE take-private that worked exactly as designed: bought for ~$5.0B in 2017, sold for $8.5B in 2021 — a ~70% value gain in four years plus successful bolt-on M&A along the way.
Full analysis, sources & comparables →BioPharma Dive framed the take-private as the latest in a wave of CRO consolidation, contextualizing it alongside the QuintilesIMS and INC/inVentiv mergers and…
FierceBiotech highlighted the activist-led process that culminated in the Pamplona deal, noting Starboard, Jana and Corvex pressure pushed PAREXEL to explore a…
Pamplona's 2021 exit at $8.5B to EQT and Goldman Sachs Asset Management vindicated the original take-private thesis, with FierceBiotech noting the 70% gain on…
Source summaries from our enrichment pipeline; follow links for originals.
All 5 sources with sentiment breakdown →
PAREXEL agreed to be taken private by Pamplona Capital for $88.10/share in cash, transaction valued at approximately $5B and representing a 27.9% premium over the May 5, 2017 unaffected closing price. PAREXEL provides full-service drug development outsourcing including clinical trials, regulatory consulting and reimbursement strategy. Transaction closed September 2017.
A PE take-private that worked exactly as designed: bought for ~$5.0B in 2017, sold for $8.5B in 2021 — a ~70% value gain in four years plus successful bolt-on M&A along the way.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pamplona Capital Management, LLP / PAREXEL International Corporation (this deal) | 2017 | $5.0B | 90 |
| Watson Pharmaceuticals (Actavis Inc.) / Actavis plc | 2012 | $5.9B | 97 |
| Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital) | 2013 | $1.3B | 91 |
| Stryker Corporation / MAKO Surgical Corp. | 2013 | $1.6B | 91 |
| Quintiles Transnational Holdings Inc. / IMS Health Holdings, Inc. | 2016 | $17.6B | 91 |
| DPx Holdings B.V. (JLL Partners 51% / Royal DSM 49%) / Patheon Inc. + DSM Pharmaceutical Products | 2013 | $2.6B | 90 |
| Thermo Fisher Scientific Inc. / Patheon N.V. | 2017 | $7.2B | 89 |
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