Mergers & acquisitions
A recent report predicts multiple acquisitions are set to be announced in the second half of the year, particularly by companies that have strong revenue streams from COVID-19 products.
Pfizer announced Monday that it is acquiring the hematology-focused company for $5.4 billion in order to bolster its presence in the multi-billion dollar rare disease market.
Gilead snapped up U.K.-based MiroBio in a $405 million deal that will bring its checkpoint agonists and discovery platform under Gilead’s umbrella.
In its Q2 earnings report, Amgen revealed the demise of two HLE BiTE molecules. Also on Thursday, the company announced it is acquiring ChemoCentryx for $4 billion.
The biotech industry is facing what some consider the worst times since its inception. Several market analysts recently shared their thoughts.
The transaction, Ginkgo’s largest acquisition to date, is expected to close by the first quarter of 2023, subject to regulatory approval and other closing conditions.
The buyout comes on the heels of promising Phase I/II results from GTX-102, an antisense oligonucleotide candidate being developed to treat Angelman syndrome.
The delay is due, in part, to some internal Seagen actions, including a data readout for its bladder cancer drug Padcev, as well as a legal matter between Seagen and Daiichi Sankyo.
Unnamed sources “familiar with the matter” informed Bloomberg that CStone’s leadership team is working with Goldman Sachs to determine if there are interested buyers.
Under the terms of the deal, Theravance and Innoviva are surrendering 85% and 15% of their stakes in Trelegy in exchange for $1.1 billion and $282 million from Royalty, respectively.
PRESS RELEASES