Pharma BD Deal Intelligence

Roche Holding AG / Anadys Pharmaceuticals, Inc.

2011 · Acquisition/Merger · $230M · Complete

WRONG BY 50 POINTS
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The coverage arc

Oct 17, 2011 Anadys Pharmaceuticals (PR Newswire) Bullish

Anadys CEO Steve Worland: 'With Roche's considerable capabilities and experience in HCV, we believe this acquisition provides the best chance of success for…

Oct 17, 2011 Pharmaceutical Technology Bullish

Roche to acquire Anadys at $3.70/share — a 256% premium — adding Phase 2b setrobuvir and TLR7 agonist ANA773 to its HCV portfolio in a clear move toward…

Jul 01, 2015 Wikipedia / referenced primary sources Bearish

Roche terminated setrobuvir development in July 2015 — four years post-acquisition — after Gilead's sofosbuvir-based all-oral regimens made non-nucleoside…

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Roche announced acquisition of Anadys for $3.70/share cash (~$230M), a 256% premium. Strategic HCV consolidation aimed at all-oral interferon-free regimens; competitive response to Gilead/Pharmasset and BMS/Inhibitex.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Pipeline outcome
Assets Terminated

Key facts

Related deals — scored

DealYearValueOutcome
Roche Holding AG / Anadys Pharmaceuticals, Inc. (this deal)2011$230M17
Roche Holding AG / Chugai Pharmaceutical Co. Ltd.2002$1.4B100
Roche Holding AG / Ventana Medical Systems Inc.2008$3.4B88
Roche Holding AG / Corange Ltd. (Boehringer Mannheim Group)1997$11.0B88
Roche Holding AG / Ventana Medical Systems Inc.2007$3.4B88
Roche Holding AG / Foundation Medicine, Inc.2015$1.1B87
Roche Holding AG / Foundation Medicine, Inc.2018$5.3B85

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