Pharma industry posts 57 deals worth $19 billion in March 2018

77 venture capital deals worth $2.1 billion were reported in March 2018.

The industry reported 57 deals worth $19 billion in March 2018, compared to five months average of 63 deals worth $12.7 billion. GlaxoSmithKline’s (GSK) proposed acquisition of 36.5 per cent stake in consumer healthcare joint venture from Novartis for $13 billion has contributed nearly 68 per cent of the total deal value reported in the pharmaceutical and healthcare industry in March 2018.

The acquisition is expected to be accretive to GSK’s adjusted earnings in 2018 and thereafter, is expected to strengthen operational cash flows. Together with its new launch opportunities and expected operational improvements, these financial benefits further support GSK’s increased confidence in its ability to deliver its 2020 outlook and invest effectively in the company’s other priorities.

Some of the other major transactions in March 2018 include Platinum Equity’s proposed acquisition of LifeScan, a provider of consumer health products, from Johnson & Johnson for $2.1 billion; and Lundbeck’s proposed acquisition of Prexton Therapeutics, a company focussed on developing drugs to treat Parkinson’s disease and other brain disorders, for $1.1 billion.

The pharma and healthcare industry reported 77 venture capital (VC) deals worth $2.1 billion in March 2018, as compared to five months average of 76 deals worth $1.4 billion. Some of the major deals in March 2018 include Radiology Partners raising $234 million in financing round; Helix Opco raising $200 million in Series B financing round; and TCR2 Therapeutics raising $125 million in Series B financing round.