Week of March 18, 2019 | Vol. 8, Issue 11
In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events

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Contact Information
Managing Director
Business Development

Managing Director
Head of M&A and Capital Advisory
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 sub sectors.
Fujifilm grabs Biogen biologics plant in Europe to bolster its CDMO business
Biogen will open brand-new biologics facilities in Switzerland and has decided it no longer needs its older operations in Denmark.
Fujifilm will pay Biogen up to $890 million in cash for the facilities in Hillerød, Denmark, and take on the 800 employees. It has also agreed to supply Biogen with some products manufactured there, including multiple sclerosis drug Tysabri. The Hillerød site includes a 90,000-L biologics production facility with assembly, labeling and packing capabilities, quality control laboratories and warehouses. Fujifilm expects the deal to close by August. “This significant investment demonstrates our continued commitment to grow the bio CDMO business and become an industry leader by combining resources of Biogen Hillerød and Fujifilm,” Fujifilm CEO Shigetaka Komori said in a statement. Biogen CEO Michel Vounatsos  said  in a statement that with the biologics plant the company has in Research Triangle Park, North Carolina, and the $1 billion biologics facility it is building in Solothurn, Switzerland, the company decided it could do without the Demark site.

 C ontinue Reading at Fierce Pharma
CEO, Banks Bourne, To Serve As A Keynote Speaker During DCAT Week 2019

505(b)(2) Platform Information Session |  Website
 
Tuesday, March 19th | 9 AM - 11 AM

505(b)(2) NDA | Success Stories | Strategies | Regulatory Issues | Commercialization
RECENT INDUSTRY TRANSACTIONS
An Overview of Transactions Within Market Sub-segments
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.
M&A TRANSACTIONS
Pharma & Biotech
17 transactions totaling $1,760 million
Supplies, Equipment & Services
18 transactions totaling $1,131 million
Healthcare IT & Managed Care
3 transactions totaling $237 million
Healthcare Facilities & Distributors
10 transactions totaling $127 million
PRIVATE PLACEMENTS
Pharma & Biotech
24 transactions totaling $528 million
Supplies, Equipment & Services
23 transactions totaling $131 million
Healthcare IT & Managed Care
12 transactions totaling $273 million
Healthcare Facilities & Distributors
1 transaction
PUBLIC OFFERINGS
Pharma & Biotech
15 transactions totaling $3,947 million
Supplies, Equipment & Services
3 transactions totaling $22 million
Healthcare IT & Managed Care
1 transaction totaling $40 million
Healthcare Facilities & Distributors
0 transactions
INDUSTRY TRADING COMPS
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
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. 

Note: data reflects prior week close.
RECENT INDUSTRY TRANSACTIONS
A Sampling of Relevant Industry Headlines from 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.
March 14, 2019 -  Fierce Biotech
While some of the details of C4’s work, on specific targets and the like, has been kept close to the chest, the former Fierce 15 winner has formed collaborations with Roche, Calico and most recently Biogen—with  a deal inked in January totaling up to $415 million for research into neurodegenerative diseases such as Alzheimer’s and Parkinson’s disease.

March 13, 2019 -  Bio Space
Agenus Inc. an immuno-oncology (I-O) company with a pipeline of immune checkpoint antibodies, cancer vaccines and adoptive cell therapies 1 , announced today that the FDA has accepted the company's IND filing for AGEN1423 - a milestone in its partnership with Gilead Sciences, Inc. This milestone triggered a cash payment of $7.5M.

March 13, 2019 -  Fierce Biotech
Smith & Nephew has moved to absorb regenerative medicine developer Osiris Therapeutics in a $660 million deal that the company hopes will expand and accelerate its wound care business.

March 12, 2019 - BioPharma Dive
AstraZeneca has inked a research collaboration with microbiome specialist Seres Therapeutics to explore whether the composition of bacteria in the gut could help predict how cancer patients respond to immunotherapy. 

March 11, 2019 - Bio Space
On Friday, March 8, Bristol-Myers Squibb executives met with sell-side analysts to sell its $74 billion Celgene buyout. Bristol-Myers Squibb announced its bid to acquire Celgene on January 3, 2019. However, the deal hit a snag . One of its biggest shareholders, Wellington Management Company LLP, has objected to the acquisition.

MARKET REPORTS
Recent Materials Providing Insight Into Healthcare Related Industries
February 2019

UPCOMING EVENTS
March 17-19, 2019 | Boca Raton, Florida, United States
March 18-21, 2019 | New York City, New York, United States