Alnylam Pharmaceutical Inc. hopes to tap into Roche Holding AG’s global footprint with its early-stage hypertension RNAi therapeutic, zilebesiran, selling development and commercialization rights to the pharma giant for up to $2.8 billion with a view to extending the drug’s future reach beyond the U.S market.
Despite a strong 2022 for both med-tech deals and M&As, the industry lost ground with both types of transactions in the first quarter of 2023, with deal values falling 32% and M&A values dropping 83%, in comparison with the first quarter of last year.
Biontech SE has tapped into two of Duality Biologics Co. Ltd.’s antibody-drug conjugate candidates (ADCs), paying Duality $170 million up front and agreeing on development, regulatory and commercial milestone fees of $1.5 billion or more.
Biontech SE has tapped into two of Duality Biologics Co. Ltd.’s antibody-drug conjugate candidates (ADCs), paying Duality $170 million up front and agreeing on development, regulatory and commercial milestone fees of $1.5 billion or more.
From Carl Icahn’s point of view, Illumina Inc.’s desired reintegration of its former spinoff is more a poisoned chalice than a holy Grail. In his opening salvo to a proxy fight, Icahn published an open letter March 13 to other Illumina shareholders referencing the “extreme displeasure” of investors with Illumina’s “reckless” determination to acquire Grail Inc., despite European regulators’ strong opposition to the deal.
Abbott Laboratories reported its plans to acquire Cardiovascular Systems Inc., (CSI), makers of an orbital atherectomy system, and will pay shareholders of CSI $20 per share. Analysts see the acquisition as a smart move for Abbott even though the purchase price represents a 50%-plus premium over the Feb. 8 closing price of $13.31, but the companies did not provide a date by which the transaction will close.
Globus Medical Inc. entered into a definitive agreement to buy Nuvasive Inc. in an all-stock transaction that will combine two leaders in the musculoskeletal industry into one of the largest companies in the spinal surgery market. While there are many companies in the spine market, the acquisition may still set off an alarm among regulators concerned about consolidation in the field. Both boards unanimously approved the deal.
The volume of med-tech deals and M&As dropped in the fourth quarter of 2022, although it was a solid year for both types of transactions due to a growing interest in the digital health space.
Digital health remains a primary driver of med-tech partnerships and mergers, accounting for 67.3% of all deal activity and 49.9% of the completed M&As in 2022.
