Mergers & acquisitions
Novo Nordisk has entered into an agreement to acquire Forma Therapeutics for $1.1 billion. Forma’s lead development candidate, etavopivat, is being developed for sickle cell disease.
Merck’s bid to buy the cancer-focused Seagen has hit a roadblock after the two companies failed to agree on a price, according to a Bloomberg report.
Alcon announced it is buying out Aerie Pharmaceuticals for about $770 million to gain access to the ophthalmic pharma firm’s open-angle glaucoma and ocular hypertension treatments.
BioSpace spoke with industry executives and investors about the current economic situation in the biotech industry and sourced tips on how leaders can weather the downturn.
Gemini Therapeutics and Disc Medicine have announced plans to merge in an all-stock deal. The combined company will work to advance Disc’s pipeline of hematology programs.
Biogen expects to lay off a potential 1,000 staffers in an effort to cut about $1 billion in costs, according to The Boston Globe, while 10x Genomics and Talis Biomedical also cut staff.
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.
PRESS RELEASES