Deals
Amid record sales of its obesity treatment Wegovy, as well as diabetes drugs Ozempic and Rybelsus, Novo is buying Canadian biotech Inversago Pharma to further boost its weight-loss pipeline.
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Analysts said the deal with Novo was likely giving Hims “‘credibility’ or increased consumer traffic,” adding that the “litigation risk is back on the table” now that the Danish pharma has stepped away.
Why did two private equity firms with more than $460 billion under management want a little old gene therapy biotech called bluebird bio? We wanted to know.
Big Pharmas like Eli Lilly, Sanofi and Novartis headed back to the dealmakers table multiple times, with 32 total deals counted across the industry for the first half.
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Regeneron Pharmaceuticals announced intentions to acquire Sanofi’s stake in a drug they developed together, Libtayo (cemiplimab).
Pfizer intends to sell off its stake when the de-merger occurs and seek the most profitable sale of its share of Haleon to maximize value for company stockholders.
GSK announced that it is acquiring Affinivax for up to $3.3 billion to gain its novel class of developmental vaccines and its MAPS technology.
Genocea’s board of directors voted to wind down ongoing operations and terminate its remaining staff, except for those necessary to see the company’s closing.
Burlingame, CA-based Innoviva is buying all of Waltham, MA-based Entasis Therapeutics’ available shares at $2.20 per share. Currently, Innoviva owns about 60% of Entasis’ outstanding shares.
Orphazyme has several products with potential, with biopharma company KemPharm acquiring nearly all of the company’s assets and operations.
Cullinan and Taiho announced that Taiho was acquiring Cullinan Pearl and will co-develop and co-commercialize their non-small cell lung cancer drug.
Cortexyme has entered into a deal to acquire Novosteo. Once the deal is finalized, the companies will enter the rare disease space and operate under the name Quince Therapeutics.
Pfizer made the splash of the young week Tuesday morning, inking an acquisition deal with New Haven, Connecticut-based Biohaven Pharma totaling $11.6 billion.
Could big pharma buy out much of the biotech industry? Yes, according to analysts. But that’s not likely to happen anytime soon.