Deals
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Intercept, after biotech rollercoaster ride, agrees to buyout by Alfasigma
Once valued at more than $7 billion, the liver drug company couldn’t secure a long-sought FDA approval in NASH and last month said it would abandon that research.
By Jonathan Gardner • Sept. 26, 2023 -
Roche’s Genentech bets on radiopharmaceuticals in partnership with PeptiDream
The new deal expands on a yearslong partnership between the two drug developers to advance targeted radioisotopes for certain cancers.
By Delilah Alvarado • Sept. 20, 2023 -
Novartis cancels Beigene partnership as cancer drug gains EU approval
The terminated deal leaves Novartis without a PD-1 inhibitor nine years after Merck’s Keytruda won its first approval.
By Jonathan Gardner • Sept. 19, 2023 -
Bausch + Lomb seeks funding for eye drug acquisition from Novartis
Fitch Ratings called the deal to buy the Xiidra treatment “strategically sound” even as the company’s plan for funding the deal would increase its leverage.
By Nick Paul Taylor • Sept. 12, 2023 -
Kriya, flush with funding, buys a gene therapy for NASH
Fresh off a Series C fundraise, Kriya has acquired the privately held Tramotane Therapeutics and its preclinical candidate for the widely prevalent liver disease.
By Kristin Jensen • Sept. 7, 2023 -
Nestle gives up on peanut allergy treatment after sluggish sales
The FDA-approved therapy, called Palforzia, was little used, leading Nestle to abandon a business it had secured in a $2.6 billion deal three years ago.
By Delilah Alvarado • Sept. 5, 2023 -
FTC allows Amgen’s $28B deal for Horizon to go through, with conditions
The settlement between Amgen and the FTC may reassure those in the industry who feared a more activist regulator would gum up dealmaking.
By Jonathan Gardner • Sept. 1, 2023 -
Obesity drugs
Novo, continuing deal streak, buys another obesity drug startup
The acquisition of Embark Biotech, which Novo helped found, gives the company another prospect to add to its arsenal of weight-loss medicines.
By Jonathan Gardner • Aug. 30, 2023 -
FTC pulls back on legal challenge to Amgen’s $28B bid for Horizon
Urged by a judge, the antitrust regulator said it wants to start discussions “regarding the proper resolution of this matter” — a potential prelude to a settlement.
By Jonathan Gardner • Aug. 28, 2023 -
Danaher to buy antibody supplier Abcam for $5.7B
The acquisition gives Danaher ownership of a producer of research tools, such as antibodies and reagents, that are used in drug discovery experiments.
By Elise Reuter • Aug. 28, 2023 -
Royalty Pharma buys into Ferring’s cancer treatment in first gene therapy deal
The deal, worth up to $500 million, is a bet by the drug rights dealmaker on the uncertain commercial prospects of Ferring's gene therapy Adstiladrin.
By Ned Pagliarulo • Aug. 24, 2023 -
Emerging biotech
Genesis raises $200 million for AI drug discovery research
The Series B round brings the total funding for Genesis, a California startup backed by Andreessen Horowitz and Nvidia’s VC arm, to over $280 million.
By Delilah Alvarado • Aug. 21, 2023 -
Illumina faces SEC probe over Grail acquisition
The regulator has asked for documents tied to the 2021 deal as well as to the conduct and compensation of Illumina and Grail management.
By Susan Kelly • Aug. 14, 2023 -
Obesity drugs
Novo adds another obesity drug in $1B deal for startup Inversago
The acquisition follows a similar-sized, obesity-focused buyout by Eli Lilly last month and hands Novo a weight-loss medicine already in mid-stage testing.
By Kristin Jensen • Aug. 10, 2023 -
Regeneron ups genetic medicine investment with Decibel buyout
Third Rock-founded Decibel, which has shed much of its value since a 2021 IPO, expected to run out of money within a year.
By Jonathan Gardner • Aug. 9, 2023 -
Ikena acquires cancer startup Pionyr after Gilead passes on buyout
The all-stock deal comes months after Gilead waived an option to buy Pionyr, and gives Ikena some needed breathing room in a tough market.
By Delilah Alvarado • Aug. 7, 2023 -
Agios turns to Alnylam for help with rare disease push
The biotech is acquiring rights to an RNA interference medicine Alnylam invented for a rare blood disorder, continuing a corporate makeover that began in 2020.
By Kristin Jensen • Aug. 3, 2023 -
TG shares tumble following licensing deal for MS drug
Some on Wall Street believe the New York-based biotechnology company is now less likely to get acquired after agreeing to sell partial rights to its only marketed product.
By Jacob Bell • Aug. 1, 2023 -
EQRx to sell to Revolution Medicines after failed bid to upend US drug pricing
The all-stock deal is a quiet end for the ambitious biotech, which was sold for its billion-dollar bank account after the FDA derailed its plans to develop low-cost cancer medicines.
By Ben Fidler • Aug. 1, 2023 -
Biogen to acquire rare disease drugmaker Reata for $7.3B
The deal is a major bet by Biogen and its new CEO Chris Viehbacher, who’s reorganized R&D, cut costs and laid off staff since becoming company head last year.
By Ned Pagliarulo • Updated July 28, 2023 -
AstraZeneca buys Pfizer’s early gene therapy work for up to $1B
The British pharma is deepening its investment in genetic medicine through a deal for a group of Pfizer’s gene therapy delivery tools, while the New York giant cuts back.
By Ben Fidler • July 28, 2023 -
Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.Deep Dive
New antitrust merger guidelines could have chilling effect on healthcare deals
Regulators have historically struggled to halt complex and non-traditional tie-ups. That could change with new guidelines, as the Biden administration scrutinizes healthcare M&A, antitrust experts said.
By Rebecca Pifer • July 21, 2023 -
Sanofi, searching for new immune system drugs, partners with a young biotech
The deal with Recludix Pharma carries a $125 million near-term payment and specifically revolves around a “STAT6,” a protein that research suggests plays a role in some respiratory and skin disorders.
By Jacob Bell • July 20, 2023 -
Emerging biotech
Pfizer, Flagship join forces to hunt for 10 new drugs
The unusual research alliance involves the startup creator’s Pioneering Medicines initiative, which previously struck pacts with Novo Nordisk and the Cystic Fibrosis Foundation.
By Gwendolyn Wu • July 18, 2023 -
Gene editing
Sanofi expands research deal with gene editing startup Scribe
Scribe will receive $40 million upfront from Sanofi in a collaboration initially focused on developing an in vivo gene editing treatment for sickle cell disease.
By Gwendolyn Wu • Updated July 17, 2023