Week of September 8th, 2020 | Vol. 9, Issue 36
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

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.

For more information about our consumer healthcare JV with The Emerson Group, Daybreak Consumer Care, click here.
Recent Materials Providing Insight Into Healthcare Related Industries
Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
Project Aspen
Sell-side | Pharma Services | Multi-national contract manufacturing and packaging organization

Project Athena
Sell-side | Medical Device | Novel medical device for the treatment of pelvic organ prolapse

Project Vista
Out-partnering | Pharma | Seeking commercial partner for novel, liquid-format riluzole treatment of ALS

Project Seal
Buy-side | Pharma | Seeking Pain and CNS products as well as legacy/tail commercial pharma assets

Project Olympus
Sell-side | Pharma | Portfolio of generic injectable products
Swiss giant Nestlé has had a mixed bag in its dive into pharma, including a disappointing exit from prescription meds last year. The company since then has pivoted around nutrition and picked up two prescription assets in the process—and now it's making a big bet on a controversial allergy med. 

Nestlé will buy out California-based Aimmune Therapeutics for more than $2.1 billion in a bid to acquire Palforzia, a peanut allergy drug that received FDA approval in February, the companies said Monday.

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.
Pharma & Biotech
24 transactions totaling $3,270 million
Supplies, Equipment & Services
19 transactions totaling $456 million
Healthcare IT & Managed Care
5 transactions totaling $8 million
Healthcare Facilities & Distributors
16 transactions totaling $17 million
Pharma & Biotech
28 transactions totaling $391 million
Supplies, Equipment & Services
23 transactions totaling $367 million
Healthcare IT & Managed Care
27 transactions totaling $250 million
Healthcare Facilities & Distributors
3 transactions totaling $27 million
Pharma & Biotech
24 transactions totaling $1,918 million
Supplies, Equipment & Services
11 transactions totaling $3,723 million
Healthcare IT & Managed Care
2 transactions totaling $105 million
Healthcare Facilities & Distributors
5 transactions totaling $2,539 million
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.
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.
September 4, 2020 - Fierce Biotech
The AbbVie deal, which is made up of a $180 million upfront payment and a $20 million milestone payment—up to $2 billion all-in—with $1.74 billion of that figure roughly half split between commercial royalties and R&D biobucks.

September 4, 2020 - Fierce Biotech
PPD has signed up to a new collaboration with Lupus Therapeutics to deepen its biotech clients’ lupus research capabilities. The contract research organization will work with Lupus Therapeutics, a part of the Lupus Research Alliance that focuses on lupus clinical trials, in a two-way deal.

September 3, 2020 - Contract Pharma
TriRx Pharmaceutical Services, a global contract development and manufacturing organization serving the biopharmaceutical market, has finalized an agreement with MSD Sante Animale, a division of Merck & Co. Inc., to acquire the operations and ownership of its manufacturing site located in Segré, France.

September 4, 2020 - Fierce Pharma
The Department of Defense stepped up to aid AstraZeneca with its U.S. phase 3, pledging five military sites for the British drugmaker's late-stage vaccine study. Meanwhile, Johnson & Johnson, which expects to push its shot into phase 3 this month, announced its candidate curbed death rates and disease progression in hamsters. 
Welcome to Bourne, let's talk.

Since our founding in 2001, Bourne Partners has remained focused on fulfilling the unique needs of established, middle-market healthcare and pharmaceutical companies across the globe. Our track record includes advising middle market companies in healthcare M&A assignments totaling more than $7 billion, and growing companies into successful and well-positioned pharmaceutical enterprises.