Pharma BD Deal Intelligence
A $780M bet on Tolero's oncology pipeline produced zero approved drugs and fed into hundreds of millions in goodwill/asset impairments
Full analysis, sources & comparables →BioCentury detailed the alvocidib licensing chain (originally from Sanofi, retaining downstream royalty obligations) and characterized the acquisition as a…
Sumitomo Dainippon Pharma has stepped up with a $200 million down payment on its purchase of Salt Lake City-based Tolero... Tolero has been building a case for…
Sumitomo CEO Masayo Tada framed the acquisition as reinforcing the oncology pipeline to offset declining Latuda revenues; alvocidib was positioned with…
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Sumitomo Dainippon Pharma agreed to acquire Salt Lake City-based Tolero Pharmaceuticals for $200M upfront plus up to $580M (development milestones up to $430M plus commercial milestones up to $150M), totaling up to $780M. Lead asset alvocidib, a CDK9 inhibitor in midphase trials for AML/MDS. Tolero later merged with Boston Biomedical to form Sumitomo Dainippon Pharma Oncology in 2020.
A $780M bet on Tolero's oncology pipeline produced zero approved drugs and fed into hundreds of millions in goodwill/asset impairments
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Sumitomo Dainippon Pharma Co., Ltd. / Tolero Pharmaceuticals, Inc. (this deal) | 2016 | $780M | 24 |
| Sumitomo Dainippon Pharma Co., Ltd. / Cynapsus Therapeutics Inc. | 2016 | $624M | 28 |
| Sumitomo Dainippon Pharma Co., Ltd. / Otsuka Pharmaceutical Co., Ltd. | 2021 | $270M | — |
| Sumitomo Dainippon Pharma Co., Ltd. / Roivant Sciences Ltd. (Sumitovant five-Vant deal) | 2019 | $3.0B | — |
| Amgen Inc. / Micromet Inc. | 2012 | $1.2B | 88 |
| Servier / Shire plc (Oncology Business) | 2018 | $2.4B | 88 |
| AstraZeneca PLC / Alexion Pharmaceuticals Inc. | 2020 | $39.0B | 86 |
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