Top 20 Biopharma Acquisitions of 2018 Based on the Total Deal Value

Top 20 Acquisitions of 2018 Based on the Total Deal Value

Biopharma acquisition activity in 2018 shows a significant increase over the previous year. Takeda proved to be on top with the acquisition of Shire among the top 20 acquisitions with a total deal value of $57.17B strengthening its capabilities in gastroenterology, neuroscience, oncology, rare diseases, and plasma-derived therapies. This article is based on the 2018 deals data as provided by Chris Dokomajilar of DealForma. Our team at PharmaShots compiled a list of top 20 acquisitions of 2018 based on their total deal value.

Takeda Acquired TiGenix

Deal Date: Jan 5, 2018 

Deal Value: $600M      

Takeda acquired TiGEnix for EUR 1.78 per share for a total of approximately EUR 520M ($600M) in cash. The acquisition strengthened Takeda’s late-stage gastroenterology pipeline and presence in the US specialty care market. In 2016, Takeda and TiGenix signed an exclusive WW ex-US license deal to develop and commercialize Cx601 (darvadstrocel). The acquisition was completed in July 2018.

Emergent Acquired Adapt

Deal Date: Aug 28, 2018 

Deal Value: $735M   

Emergent acquired Adapt for $635M up front and up to $100M in sales based contingent payments. The acquisition strengthened Emergent’s opioid-based drug abuse portfolio.

Roche Acquired Tusk with its Pre-clinical Immuno-Oncology Programs

Deal Date: Sept 28, 2018  

Deal Value: $760M   

Roche acquired Tusk Therapeutics, a pre-clinical immuno-oncology company developing antibodies to deplete regulatory T-cells in tumors. Roche continued to develop the antibody. Turk’s portfolio of other immune-oncology targets spun off into Black Belt Therapeutics. Tusk shareholders received $81.2M up front and were eligible for up to $678.9M in contingent payments. 

Novo Nordisk Acquired Ziylo for its Glucose Binding Molecule Platform

Deal Date: Aug 17, 2018

Deal Value: $800M+     

Novo Nordisk acquired Ziylo for $800M up front plus undisclosed contingent payments. The acquisition strengthened Novo’s metabolic portfolio to develop glucose responsive insulins. Separate from the acquisition, certain pipeline compounds spun off into a new company, Carbometrics.

PTC Acquired Agilis

Deal Date: Jul 19, 2018

Deal Value: $945M 

PTC Therapeutics acquired Agilis Biotherapeutics for $50M up front, $150M in its common stock, and up to $745M in contingent payments, plus a 2% to 6% royalty to Agilis shareholders. The acquisition strengthened PTC’s rare monogenic disease portfolio. The acquisition completed on August 23, 2018.

Janssen Biotech Acquired Benevir Biopharm with its Preclinical Oncolytic Virus Therapies

Deal Date: May 3, 2018

Deal Value: $1.04B

Janssen Biotech acquired BeneVir Biopharm for $1.04B in up front and potential milestone payments. The acquisition strengthened Janssen’s oncology portfolio.

Lundbeck Acquired Prexton Therapeutics

Deal Date: Mar 16, 2018

Deal Value: $1.1B

Lundbeck acquired Prexton for $1.11B. The acquisition strengthened Lundbeck’s neurology portfolio.

Alexion Acquired Syntimmune

Deal Date: Sept 26, 2018

Deal Value: $1.2B

Alexion acquired Syntimmune. The acquisition strengthened Alexion’s portfolio of antibody therapeutics targeting the Fc receptor (FcRn). Syntimmune shareholders received $400M up front and are eligible for up to $800M in contingent payments. On November 2, 2018, Alexion Pharmaceuticals completed the acquisition of Syntimmune. 

Eli Lilly Acquired Armo BioSciences

Deal Date: May 9, 2018

Deal Value: $1.37B

Eli Lilly acquired ARMO BioSciences for $1.6B at a 66% premium, for each $50.00 per share. The acquisition strengthened Lilly’s immuno-oncology portfolio.

Novartis Acquired Endocyte

Deal Date: Nov 18, 2018

Deal Value: $2.1B

Novartis acquired Endocyte. The acquisition strengthened Novartis’ radiopharmaceuticals portfolio. Endocyte shareholders received is $24 per share, valued at approximately $2.1B. On December 21, 2018, Novartis completed the acquisition of Endocyte. 

JNJ Acquired Ci:z

Deal Date: Nov 23, 2018

Deal Value: $2.1B

Johnson & Johnson acquired Ci:z Holdings. The acquisition strengthened JNJ’s science-based dermo-cosmetic beauty products portfolio and market presence in Japan. Ci:z shareholders received  $52.3 per share at a 55% premium, or approximately $2B. The acquisition completed on January 17, 2019.  

Advent International Purchased Zentiva Generic Unit

Deal Date: Apr 19, 2018

Deal Value: $2.4B

Advent International purchased Zentiva, a generic business unit of Sanofi. Sanofi received $2.4B.

Boston Scientific Acquired BTG

Deal Date: Nov 20, 2018

Deal Value: $4.3B

Boston Scientific acquired BTG. The acquisition strengthened Boston’s peripheral interventions portfolio. BTG shareholders received $1.07 per share, or approximately $4.2B, which represents a 36.6% premium. The acquisition closed on August 19, 2019.

Sanofi Acquired Ablynx

Deal Date: Jan 29, 2018

Deal Value: $4.66B

Sanofi acquired Ablynx for $4.8B (€3.9B) at $49.64 (€45) per share in cash and a premium of 21%. Ablynx had a previous offer from Novo Nordisk, which it rejected. That offer was for €2.6B. Sanofi and Ablynx have partnered since July 2017 to find new treatments for inflammatory diseases. Ablynx’s lead product is caplacizumab for thrombotic thrombocytopenic purpura.

GSK Acquired TESARO

Deal Date: Dec 3, 2018

Deal Value: $5.1B

GlaxoSmithKline acquired TESARO for $75 per share in cash. The acquisition strengthened GSK’s oncology pipeline and commercial capabilities in oncology. TESARO shareholders received an aggregate cash consideration of roughly $5.1B (£4.0B). The acquisition price of $75/share represents a 110% premium to TESARO’s 30 day Volume Weighted Average Price of $35.67. On January 22, 2019, GSK completed the acquisition of TESARO.

Celgene Acquired Impact Biomedicines

Deal Date: Jan 7, 2018

Deal Value: $7B

Celgene acquired Impact Biomedicines for approximately $1.1B in cash up front and up to $1.4B in contingent payments based on the approval of fedratinib for myelofibrosis and other indications. Fedratinib is in P-III tested for myelofibrosis. Impact is also eligible for additional sales-based milestone payments. Starting from global annual net sales of $1B, aggregate tiered sales-based milestone payments could total a maximum of $4.5B if the global annual net sales exceeded $5B.

Novartis Acquired Avexis

Deal Date: Apr 9, 2018

Deal Value: $8.7B

Novartis acquired gene therapy company AveXis for $218 per share, or approximately $8.7B. AveXis’ compounds were based on its AAV9 gene therapy technology with its lead compound AVXS-101, being developed for SMA along with others in development for Rett Syndrome. Novartis completed the acquisition on May 15, 2018.

Celgene Acquired Juno

Deal Date: Jan 22, 2018

Deal Value: $10.4B

Celgene acquired Juno Therapeutics for $9B. Previously, Celgene owned 9.7% of shares in Juno. The acquisition strengthened Celgene’s cellular immunotherapy portfolio.

Sanofi Acquired Bioverativ for $11.6B

Deal Date: Jan 22, 2018

Deal Value: $11.6B

Sanofi acquired Bioverativ for $11.6B at a premium of 64% to the January 19, 2018 closing price. The acquisition strengthened Sanofi’s rare blood disorders pipeline.

Takeda Acquired Shire

Deal Date: May 8, 2018                

Deal Value: $57.17B                        

Takeda acquired Shire. Shire shareholders received $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda ADSs at a premium of 64.4%.