Week of July 15, 2019 | Vol. 8, Issue 28
In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events

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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.
US judge halts Trump administration rule requiring drug prices in TV ads
A federal judge on Monday blocked the Trump administration from implementing a new rule that would force pharmaceutical companies to include the wholesale prices of their drugs in television advertising.

U.S. District Judge Amit Mehta in Washington, D.C., sided with drugmakers Merck & Co, Eli Lilly and Co and Amgen by halting the U.S. Department of Health and Human Services rule from taking effect on Tuesday as planned.

The rule was originally suggested last May as part of U.S. President Donald Trump’s “blueprint” to lower prescription drug costs for U.S. consumers.

For more, continue reading at CNBC .
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
16 transactions totaling $476 million
Supplies, Equipment & Services
20 transactions totaling $204 million
Healthcare IT & Managed Care
5 transactions totaling $65 million
Healthcare Facilities & Distributors
17 transactions totaling $614 million
Pharma & Biotech
32 transactions totaling $857 million
Supplies, Equipment & Services
15 transactions totaling $120 million
Healthcare IT & Managed Care
7 transactions totaling $39 million
Healthcare Facilities & Distributors
1 transaction
Pharma & Biotech
20 transactions totaling $718 million
Supplies, Equipment & Services
4 transactions totaling $111 million
Healthcare IT & Managed Care
2 transactions totaling $412 million
Healthcare Facilities & Distributors
2 transactions totaling $166 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.
July 8, 2019 - Fierce Pharma
Roche and Spark Therapeutics’ road to a $4.3 billion merger has been a rocky one, with various delays pushing the long-gestating agreement back four times. Now, in order to get all its regulatory ducks in a row, Roche is moving its own deal-close deadline back as well.

July 9, 2019 - BioPharma-Reporter
Century Therapeutics advances its allogeneic cell therapy platform created programs to the clinic after a $250m in financing led by Bayer. The company is focused on developing allogeneic immune cell therapies for cancer and was founded by Versant Ventures, alongside a partnership with Fujifilm Cellular Dynamics (FCDI). The two companies, alongside Bayer, have contributed $250m (€221.22) in financing to the biotech, which came out of stealth mode on the announcement of funding.

July 10, 2019 - BioPharma Dive
Amneal Pharmaceuticals will restructure its business and cut costs in a plan aimed at saving the company about $50 million a year, it  said Wednesday . Amneal also slashed its estimate for core profits in 2019, forecasting between $425 million and $475 million in adjusted earnings before interest, taxes and other expenses. That's a sharp cut to  earlier estimates  of between $600 million and $650 million, sending shares in the company down by a third Wednesday.

July 10, 2019 - Contract Pharma
Orexo AB  has signed an agreement granting  Mundipharma Pty Ltd.  (Mundipharma Australia) the exclusive rights to commercialize Orexo's lead product, Zubsolv, for the treatment of opioid dependence, in Australia and New Zealand. Mundipharma Australia supported Orexo in obtaining marketing authorization for Zubsolv in Australia. Orexo will now be responsible for product supply and Mundipharma Australia will take responsibility for commercialization of Zubsolv in Australia and New Zealand. Orexo will receive royalties on future sales and the launch is expected 1H20.

Recent Materials Providing Insight Into Healthcare Related Industries