Week of November 12, 2018 | Vol. 7, Issue 45
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In This Issue
Quick Links
Contact Information
Managing Director
Business Development
Jeremy C. Johnson
Managing Director
Head of M&A and Capital Advisory
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INDUSTRY M&A SNAPSHOT
Above is an overview of recent industry M&A activity. For additional information, see the charts below or click on the chart above to download complete transaction tables broken out by industry subsectors.
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Divestment of rights to Alvesco, Omnaris and Zetonna to Covis Pharma
AstraZeneca has entered into an agreement with Covis Pharma B.V. (Covis Pharma) to sell its rights to the medicines Alvesco (ciclesonide)...
AstraZeneca has entered into an agreement with Covis Pharma B.V. (Covis Pharma) to sell its rights to the medicines
Alvesco (ciclesonide), usedfor the treatment of persistent asthma, and
Omnaris and
Zetonna (ciclesonide), used for the treatment of nasal symptoms associated with rhinitis. The rights cover markets outside the US and the US royalties for the medicines. Covis Pharma currently commercialises
Alvesco,
Omnaris and
Zetonna in the US and will become the owner of the medicines upon closing. The transaction does not include the transfer of any AstraZeneca employees or facilities. Mark Mallon, Executive Vice President, Global Product and Portfolio Strategy, said: "One of our strategic objectives is to divest parts of our portfolio, allowing us to allocate resources to develop innovative new medicines to address unmet patient needs. Covis Pharma has strong capabilities in marketing medicines around the world, and our agreement with them means patients will continue to benefit from
Alvesco,
Omnaris and
Zetonna." Michael Porter, Chief Executive Officer, Covis Pharma, said: "This is an exciting milestone for Covis Pharma and aligned with our strategy to build a global respiratory/allergy franchise. When we acquired the US rights for
Alvesco,
Omnaris and
Zetonna in 2017, we recognised the importance of these medicines in the respiratory and allergy therapeutic area and we look forward to extending our reach to meet the needs of patients and physicians around the world."
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An Overview of Transactions Within Market Subsegments
Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts. Total transaction values are provided in USD millions.
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Pharma & Biotech
17 transactions totaling $349 million
Supplies, Equipment & Services
13 transactions totaling $43 million
Healthcare IT & Managed Care
3 transactions totaling $817 million
Healthcare Facilities & Distributors
14 transactions totaling $30 million
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Pharma & Biotech
23 private placements totaling $894 million
Supplies, Equipment & Services
16 private placements totaling $149 million
Healthcare IT & Managed Care
11 private placements totaling $40 million
Healthcare Facilities & Distributors
0 private placements
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Pharma & Biotech
19 public offering totaling $882 million
Supplies, Equipment & Services
6 public offerings totaling $527 million
Healthcare IT & Managed Care
1 public offering totalling $29 million
Healthcare Facilities & Distributors
0 public offerings
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Each week, w
e provide updated trading
comps for leading comp-
anies from numerous healthcare subsectors.
To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.
For a complete trading comp analysis (including the individual equities that comprise the sub sectors), click on the table to the right.
Note: data reflects prior week close.
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RECENT INDUSTRY HEADLINES
A Sampling of Relevant Industry Headlines from the Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
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November 9, 2018 - Fierce Pharma
The drug, approved in January to treat somatostatin receptor-positive gastroenteropancreatic neuroendocrine tumors, is off to a flying start, the Swiss drugmaker's executives told investors last week, with CEO Vas Narasimhan calling its launch a "really explosive performance."
November 8, 2018 - The Wall Street Journal
The midterm elections abruptly shifted the health-care landscape across the country, strengthening the position of the Affordable Care Act while resulting in a divided Congress that could mean most changes unfold on the state level. Health care was
the No. 1 issue among voters this election, according to an AP survey of about 90,000 people.
November 8, 2018 - Fierce Pharma
Hikma Pharmaceuticals has established itself as a top sterile injectables manufacturer in the U.S. and is building its business in Europe. Now the London-based drugmaker is moving into Asia, picking up a production plant in Vietnam.
November 7, 2018 - Bio Space
Cambridge, Mass.-based Biogen exercised its option to acquire additional shares of South Korea's Samsung Bioepis. Samsung Bioepis focuses on developing biosimilar drugs and is a joint venture between Samsung BioLogics and Biogen formed in 2012. Under the terms of the deal, Biogen will pay Samsung BioLogics about $700 million for the option shares.
Investors Should Give Thanks for CVS Deal
November 6, 2018 -
The Wall Street Journal
CVS Health shareholders are still waiting for answers to the most important question surrounding the business: How will its acquisition of a health-insurance giant turn out? Even so, there are enough reasons for investors to be optimistic about the company's future.
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