Pharma BD Deal Intelligence

Pfizer Inc. / InnoPharma, Inc.

2014 · Acquisition/Merger · $360M · Complete

WRONG BY 54 POINTS

A small sterile-injectables bolt-on that took a near-50%-of-deal-value impairment within two years and then vanished into the much larger Hospira acquisition — a quiet underperformer, not a scandal.

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The coverage arc

Jul 16, 2014 GEN (Genetic Engineering News) Neutral

Pfizer said today it will acquire InnoPharma for $225 million upfront, plus an additional up-to-$135 million tied to milestones.

Jul 17, 2014 pharmaphorum Bullish

Pfizer increased its position in the $7 billion-plus market for sterile injectable drugs with a $360 million agreement to buy New Jersey-based InnoPharma;…

Jul 21, 2014 BioPharma Dive Bullish

Pfizer Injectables can capitalize on synergies by applying its existing manufacturing, production and sales muscle to InnoPharma's robust complex injectables…

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

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Pfizer agreed to acquire privately held NJ-based InnoPharma for $225M upfront plus up to $135M in milestones, building out a sterile injectables and specialty-injectable pipeline ahead of its 2015 Hospira mega-deal. Closed September 25, 2014.

Did it work? Outcome assessment

A small sterile-injectables bolt-on that took a near-50%-of-deal-value impairment within two years and then vanished into the much larger Hospira acquisition — a quiet underperformer, not a scandal.

Strategic verdict
Failed to Achieve
Pipeline outcome
Mixed

Key facts

Related deals — scored

DealYearValueOutcome
Pfizer Inc. / InnoPharma, Inc. (this deal)2014$360M36
Pfizer Inc. / BioNTech SE2020$748M100
Pfizer Inc. / FoldRx Pharmaceuticals201099
Pfizer Inc. / Medivation Inc.2016$14.0B86
Pfizer Inc. / Wyeth2009$68.0B86
Pfizer Inc. / Warner-Lambert Company2000$90.0B83
Pfizer Inc. / Arvinas, Inc.2021$2.4B77

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