Cheryl Swanson • 10 Comments
Tue, Jul. 19, 10:50 AM
- Prompted by moderating growth from traditional drug sales, large cap drug/biotech firms have their sights set on developers of cancer therapies, in particular immunotherapies, to boost both their top and bottom lines. Roche (OTCQX:RHHBY -1.5%), Amgen (AMGN +0.1%), Sanofi (SNY -1.3%) and Gilead Sciences (GILD -1.2%) are all actively on the prowl for acquisitions.
- Medivation (MDVN +0.1%), with its prostate cancer drug Xtandi (enzalutamide), is currently in play. Sanofi has been the most aggressive with two unsuccessful bids, but Pfizer (PFE) and Celgene (CELG -0.6%) are supposedly interested.
- Analysts say Incyte (INCY -0.4%), with polycythemia vera and myelofibrosis drug Jakafi (ruxolitinib), and Seattle Genetics (SGEN -0.8%), with lymphoma drug Adcetris (brentuximab vedotin), are the most attractive takeover targets.
- Recent transactions include AbbVie's (ABBV -0.3%) buyout of Stemcentryx, Jazz Pharmaceuticals' (JAZZ -0.8%) takeout of Celator Pharmaceuticals and Bristol-Myers Squibb's (BMY -0.2%) acquisition of Cormorant Pharmaceuticals.
Tue, May 31, 3:49 AM
- Jazz Pharmaceuticals (NASDAQ:JAZZ) is nearing a deal to buy Celator (NASDAQ:CPXX) for $1.5B, or about double its market cap - a huge premium even in biotechnology, where acquirers often pay for promising new drugs.
- About three months ago, Celator said its Vyxeos treatment helped older high-risk patients with a deadly form of leukemia live longer than those who received the standard of care regimen, sending its stock price soaring.
- CPXX +78.3% premarket
- Update: Jazz announces that it will acquire Celator for $30.25 per share in cash or ~$1.5B.
Mar. 30, 2015, 1:03 PM
- According to Bloomberg, privately-held Rome-based drug firm Sigma-Tau Group is attracting interest from prospective bidders for its rare diseases business. The unit, valued as high as $1B, could be nice fit with Jazz Pharmaceuticals (JAZZ -0.3%) or Shire plc (SHPG -1%). Last year, Jazz acquired the rights to Sigma-Tau's defibrotide in the Americas for as much as $250M. No formal negotiations are underway, though, and the Cavazza family that owns the business may choose not to sell.
- Sigma-Tau, founded in 1957, generated sales of €697M ($757M) in 2013, with the rare diseases unit contributing €165M. The 220-employee unit focuses on blood diseases and cancer.
- Previously: Jazz kicks off Fast Track review process for VOD med (Dec. 12, 2014)
- Previously: Jazz secures rights to defibrotide in the Americas (July 2, 2014)
Jan. 2, 2014, 11:01 AM
- Jazz Pharmaceuticals (JAZZ -0.5%) has been the subject of takeover rumors for quite some time now thanks to its Irish domicile, but the company may have made itself even more attractive with the recent $1B deal for Gentium, Bloomberg notes.
- JAZZ's operating margin and profit margin are "both [in the] top 96% of specialty pharmaceutical companies worldwide that have market values exceeding $1B," Tara Lachapelle says.
- TEVA and Mylan (MYL -0.6%) are listed as "possible suitors."
Dec. 20, 2013, 8:28 AM
- Shares of Jazz Pharmaceuticals (JAZZ) are 7% higher in thin premarket trading on the heels of the company's Gentium (GENT) acquisition.
- The deal gives the company Defitelio — the sVOD treatment that also has an Orphan designation in the EU for GvHD — which JAZZ says "is highly complementary to [the company's] experience in and focus on orphan diseases in the area of hematology/oncology."
- JAZZ expects the deal to be immediately accretive. (PR)
Dec. 19, 2013, 4:55 PM
Aug. 5, 2013, 1:00 PM
- Perrigo's (PRGO) recent deal for Elan has investors all jazzed up about Irish-domiciled healthcare companies.
- The allure of a 12.5% corporate tax rate could mean more M&A activity in the not-so-distant future for "anything with an Irish corporate tax structure," one analyst tells Bloomberg.
- Some of the names being tossed about: Jazz Pharmaceuticals (JAZZ +3.2%) and Alkermes (ALKS +3.8%).
Apr. 27, 2012, 1:37 PM
Apr. 26, 2012, 6:04 PM
Jazz Pharmaceuticals (JAZZ) +11.2% AH after agreeing to acquire privately-held EUSA Pharma for as much as $700M in cash. EUSA's FDA-approved Erwinaze treatment blocks cell growth in patients with acute leukemia by cutting down asparagine levels in the bloodstream. Jazz expects the deal to add $210M-$230M in revenue and $0.75-$0.85/share in earnings.| Apr. 26, 2012, 6:04 PM
Jan. 18, 2012, 8:44 AM
Sep. 19, 2011, 4:29 PM
Jazz Pharmaceuticals (JAZZ) is halted after the company announces it will merge with Ireland's Azur Pharma in an all-stock deal. Like Jazz, Azur develops drugs for treating women's health and central nervous system issues. The combined company will have $475M+ in revenue and $200M+ in cash flow in its first 12 months.| Sep. 19, 2011, 4:29 PM | 1 Comment