M&A activity in the pharmaceutical sector was focused on broadening product pipelines in selected specialty markets.
In line with the above trend, Auxilium Pharmaceuticals acquired Actient Holdings, a US-based urology specialty therapeutics company, for approximately $635 million. This transaction will expand Auxilium’s specialty therapeutic offering, thereby helping to enhance its growth trajectory.
With this acquisition, Auxilium will gain access to TESTOPEL and Striant, for testosterone replacement therapy and Edex, and Osbon ErecAid, for erectile dysfunction therapy.
|
M&A (including private equity) trend analysis
|
| Source: Medtrack |
In another key deal, US-based OPKO Health agreed to acquire PROLOR Biotech, an Israel-based biopharmaceutical company for approximately $480 million. This transaction is consistent with OPKO’s objective of broadening its portfolio, of market-transforming therapies, in selected specialty markets.
With this transaction, OPKO will have four significant products in phase III clinical development and a robust pipeline of important therapeutic and unique diagnostic products in various stages of development.
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Top M&A deals (Apr 2013)
|
||||
|
Rank
|
Date
|
Target
|
Acquirer
|
Deal value ($m)
|
|
1
|
04/29/13 | Actient Pharmaceuticals LLC (US) | Auxilium Pharmaceuticals, Inc. (US) |
635.00
|
|
2
|
04/24/13 | PROLOR Biotech, Inc. (IL) | OPKO Health, Inc. (US) |
480.00
|
|
3
|
04/02/13 | KYORIN Co., Ltd. (JP) | Teijin Ltd (JP) |
197.37
|
|
4
|
04/29/13 | Ingenuity Systems (US) | QIAGEN N.V. (NL) |
105.00
|
|
5
|
04/29/13 | Opsona Therapeutics, Ltd. (IE) | BB Biotech Ventures; Novartis Venture Funds; Sunstone Capital A/S; Baxter Ventures; Amgen Ventures; EMBL Ventures GmbH; Fountain Healthcare Partners; Roche Venture Fund; Seroba Kernel Life Sciences Ltd |
43.02
|
|
6
|
04/25/13 | Radius Health, Inc. (US) | F2 Biosciences III, L.P; Biotech Growth NV; MPM Capital; Brookside Capital; MPM Bio IV NVS Strategic Fund LP; BB Biotech Ventures |
43.00
|
|
7
|
04/25/13 | Esperion Therapeutics, Inc. (US) | Longitude Capital Management Co., LLC; Aisling Capital; Alta Partners; Domain Associates, L.L.C.; Arboretum Ventures; Asset Management Finance, LLC |
33.00
|
|
8
|
04/01/13 | Pfanstiehl, Inc. (US) | Med Opportunity Partners, LLC (US) |
29.90
|
|
9
|
04/02/13 | Revance Therapeutics, Inc. (US) | Essex Woodlands Health Ventures; NovaQuest Pharma Opportunities Fund; Delphi Ventures; Vivo Ventures; Technology Partners; Shepherd Ventures; Bio*One Capital Pte, Ltd.; PAC-LINK BioVentures; Palo Alto Investors; Undisclosed Investors |
28.00
|
|
10
|
04/24/13 | Genticel S.A. (FR) | Wellington Partners Venture Capital GmbH; IdInvest Partners; Edmond de Rothschild Investment Partners; InnoBio; IRDI; Amundi Pvt Equity Funds |
23.70
|
| Source: Medtrack | ||||
M&A activity in the pharma sector decreased in both volume and value terms, when compared to the average of previous six months (Oct 2012 – Mar 2013). According to Datamonitor’s Medtrack database, the pharma sector recorded 24 M&A transactions in April 2013, against the previous six months’ average of 36 transactions. In value terms, the sector recorded deals worth $1.7 billion against the previous six months’ average of $2.7 billion.
The Indian pharma sector witnessed no deals during April 2013, against the average of 1.1 deals over the previous six months.
|
Venture financing trend analysis
|
| Source: Medtrack |
Venture funding
Companies in the pharma sector raised $213.2 million during April 2013, against the previous six months’ average of $299 million. In terms of volume, the sector recorded 15 venture funded deals, when compared to the previous six months’ average of 25 transactions.
|
Top venture financing deals (Apr 2013)
|
||||
|
Rank
|
Date
|
Target
|
Investors
|
Deal value ($m)
|
|
1
|
04/16/13 | Auris Medical AG (CH) | Sofinnova Ventures, Inc.; Sofinnova Partners |
50.67
|
|
2
|
04/08/13 | GenSight Biologics SA (FR) | The Novartis Venture Fund; Abingworth Management Ltd; Versant Venture Management LLC; Index Ventures LLP |
41.59
|
|
3
|
04/11/13 | Syros Pharmaceuticals (US) | ARCH Venture Partners; Flagship Ventures; WuXi PharmaTech Corporate Venture Fund; Undisclosed Investors |
30.00
|
|
4
|
04/25/13 | Acumen Pharmaceuticals, Inc. (US) | BVF Partners, LP; NeuroVentures Fund LP; Glynn Ventures; Undisclosed Investors; Praxis Technologies |
20.00
|
|
5
|
04/11/13 | Novaliq GmbH (DE) | dievini Hopp BioTech holding GmbH & Co. KG |
18.18
|
| Source: Medtrack | ||||
Notes and definitions
Medtrack is a comprehensive, fully integrated, global biomedical database providing information on companies, products, patents, deals, venture financing, and epidemiology. It is a live database, constantly updated with news, milestones, trial information, etc. Medtrack’s unmatched coverage is supported by a user-friendly, highly dynamic set of decision support tools and analytics. In-house analysts and researchers add key insights and conclusions to provide you with the primary and secondary information you need. Key uses of the database include competitive intelligence, target identification, screen potential licensing and investment opportunities, patent assessments, product due diligence, royalty valuations, and developmental benchmarking.
Definitions:
1. Deal value trend is based on transactions where associate values have been disclosed.
2. Trend analysis excludes rumored and terminated deals.
3. Value and volume analysis excludes private equity exits.
For more information, visit at www.medtrack.com