Pharma industry witnesses 68 deals in October 2017

Deal value decreases to $7.1 billion when compared five months average of $10.6 billion

The pharmaceutical and healthcare industry reported an increase in volume terms recording 68 deals in October 2017 when compared to five months average, which stood at 56 deals per month. However, deal value decreased to $7.1 billion when compared five months average of $10.6 billion. Novartis’ acquisition of Advanced Accelerator Applications, a pharma group specialised in the field of nuclear medicine, for $3.9 billion in cash, is one of the top deals reported in October.

The acquisition will enable Novartis to introduce a new technology platform for cancer treatment and strengthen its oncology portfolio. Other major transactions reported in October 2017 include Amgen’s acquisition of remaining 50 per cent stake in Kirin-Amgen, a biotechnology company, for approximately $780 million; and TPG Capital’s acquisition of Exactech, a producer of orthopaedic implant devices and surgical instrumentation, for a price of $42 per share in cash or $625 million.

The venture capital market recorded a decrease in the number of deals and deal values in October 2017 with 59 deals worth $1.1 billion when compared to five months average of 82 deals worth $1.2 billion. Notable fundings in October include:

Cullinan Oncology raising $150 million in series A financing round; KSQ Therapeutics raising $76 million in financing round; and Forty Seven raising $75 million in series B financing round.