Pharma BD Deal Intelligence
CLARIFICATION: The $9.7B Novartis/inclisiran transaction was an acquisition of The Medicines Company (not a licensing deal). The underlying licensing deal was between Alnylam Pharmaceuticals and The Medicines Company, signed February 2013. TMC obtained exclusive global rights to develop, manufacture, and commercialize Alnylam's ALN-PCS RNAi therapeutics targeting PCSK9 (which became inclisiran/Leqvio). Alnylam received an upfront payment (amount undisclosed) and was eligible for development/commercial milestones and tiered royalties of 10-20% on global sales. When Novartis acquired TMC for $9.7B in January 2020, Alnylam's royalty stream transferred to the Novartis relationship. Blackstone subsequently purchased 50% of Alnylam's inclisiran royalties for up to $2 billion in 2020.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| The Medicines Company / Alnylam Pharmaceuticals Inc. (this deal) | 2013 | — | 87 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Abbott Laboratories / Knoll Pharmaceuticals (BASF Pharma) | 2000 | $6.9B | 95 |
| Astra AB / Zeneca Group plc | 1998 | $35.0B | 94 |
| Merck & Co. Inc. / Acceleron Pharma Inc. | 2021 | $11.5B | 90 |
| Johnson & Johnson / Actelion Ltd | 2017 | $30.0B | 90 |
| Eli Lilly and Company / Boehringer Ingelheim GmbH | 2011 | $444M | 89 |
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