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I. COMPLETED MERGERS AND ACQUISITIONS Total Value in 2011: $65,315M Number of M&As in 2011: 81 | |||||
Company Acquired (Location) |
Acquired By Or Merged With (Location) |
Date Reported |
Date Completed* |
Value (M)@ |
Terms/Details |
May | |||||
Aegera Therapeutics Inc. (Montreal) |
Pharmascience Inc. (Montreal) |
5/31 |
5/31 |
ND |
Aegera was acquired by Pharmascience for an undisclosed amount |
Celera Corp. (Alameda, Calif.) |
Quest Diagnostics Inc. (Madison, N.J.) |
3/21 |
5/19 |
$344 |
Quest acquired Celera for $8 per share, or about $344M, net of $327M in acquired cash and short-term investments |
Inspire Pharmaceuticals Inc. (Raleigh, N.C.) |
Merck & Co. Inc. (Whitehouse Station, N.Y.) |
4/6 |
5/13 |
$430 |
Merck paid $5 a share for all outstanding Inspire shares |
Perseid Therapeutics LLC (joint venture of Astellas and Maxygen Inc.; Redwood City, Calif.) |
Astellas Pharma Inc. (Tokyo) |
3/18 |
5/18 |
$76 |
Astellas bought out Maxygen Inc.'s 83.3% equity interest in their joint venture, Perseid |
ProChon Biotech Ltd. (Woburn, Mass.) |
Histogenics Corp. (Waltham, Mass.) |
5/17 |
5/17 |
ND |
Histogenics acquired ProChon in a stock-for-stock exchange |
Prometheus Laboratories Inc. (San Diego) |
Nestle Health Sciences SA (Vevey, Switzerland) |
5/26 |
5/26 |
ND |
Nestle acquired Prometheus for an undisclosed amount that an analyst estimates to be between $567M to more than $1B |
VistaGen Therapeutics Inc. (South San Francisco) |
Excalibur Enterprises Ltd. (public shell) |
5/18 |
5/18 |
ND |
VistaGen merged with Excalibur to go public |
Wex Pharmaceuticals Inc. (Vancouver, British Columbia) |
Pharmagesic Holdings Inc. (subsidiary of CK Life Sciences International Holdings Inc.; Hong Kong) |
7/13 2010 |
5/6 |
ND |
Pharmagesic purchased the rest of Wex Pharmaceuticals that it did not already own, bumping its stake from 88.7% to 100% |
ZARS Pharma Inc. (Salt Lake City) |
Nuvo Research Inc. (Mississauga, Ontario) |
5/16 |
5/16 |
$35. 1 |
Nuvo acquired ZARS for 99.8M shares and $100,000 in cash, valued at about $12.2M, plus it will issue a $14.9M promissory note based on a milestone related to ZARS' Pliaglis, and up to an additional $8M of promissory notes upon the occurrence of future events |
June | |||||
Advanced BioHealing Inc. (Westport, Conn.) |
Shire plc (Dublin, Ireland) |
5/19 |
6/29 |
$750 |
Shire paid $750M cash for Advanced BioHealing |
American Medical Systems Holdings Inc. (Minnetonka, Minn.) |
Endo Pharmaceuticals Holdings Inc. (Chadds Ford, Pa.) |
5/27 |
6/17 |
$2.9B |
Endo acquired American Medical for $2.9B |
BioPhausia AB (Stockholm, Sweden) |
Medivir AB (Huddinge, Sweden) |
4/13 |
6/16 |
SEK565 ($90.1) |
Medivir bought BioPhausia in a cash-and-shares deal valued at $90. 1M |
ChemGenex Pharmaceuticals Ltd. (Melbourne, Australia) |
Cephalon Inc. (Frazer, Pa.) |
3/30 |
6/30 |
$220 |
Cephalon acquired ChemGenex |
Compound Focus Inc. (South San Francisco; division of BioFocus, part of Galapagos NV) |
Evotec AG (Hamburg, Germany) |
6/2 |
6/2 |
$17.97 |
Evotec acquired Compound Focus for $14.74M and a potential $3.23M in milestones |
IntelliCell BioSciences Inc. (New York) |
Media Exchange Group (Los Gatos, Calif.) |
4/28 |
6/8 |
ND |
IntelliCell went public via a reverse merger with Media Exchange Group |
Ondine Biomedical Inc. (Vancouver, British Columbia) |
Private entity whose sole shareholder is Ondine CEO Carolyn Cross |
6/30 |
6/30 |
C$3. 19 ($3.29) |
Ondine CEO Carolyn Cross acquired Ondine through a private entity for $3.29M |
Syntarga BV (Nijmegen, the Netherlands) |
Synthon BV (Nijmegen, the Netherlands) |
6/24 |
6/24 |
ND |
Synthon acquired Syntarga for an undisclosed amount |
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Talecris Biotherapeutics Holdings Corp. (Research Triangle Park, N.C.) |
Grifols (Barcelona, Spain) |
6/8/10 |
6/6/11 |
$3.4B |
Grifols acquired Talecris for a combination of cash and 85M newly issued nonvoting shares |
July | |||||
Bio-Quant Inc. (subsidiary of Apricus Biosciences Inc.; San Diego) |
BioTox Sciences (San Diego) |
7/7/11 |
7/7/11 |
$5 |
BioTox paid $5M in up-front and future earn-out payments for Bio-Quant |
Sophion Bioscience A/S (Ballerup, Denmark) |
Biolin Scientific AB (subsidiary of Ratos AB; Stockholm, Sweden) |
7/7 |
7/7 |
DKK155 ($29.7) |
NeuroSearch A/S signed a deal to sell its 30.1% stake in Sophion to Biolin, and all other shareholders agreed to sell their shares |
Vicept Therapeutics Inc. (Malvern, Pa.) |
Allergan Inc. (Irvine, Calif.) |
7/20 |
7/22 |
$275 |
Allergan will acquire Vicept for $75M up front and up to $200M in development and regulatory milestones |
August | |||||
AB Sanitas (Kaunas, Lithuania) |
Valeant Pharmaceuticals International Inc. (Mississauga, Ontario) |
5/25 |
8/22 |
€314 ($442.9) |
Valeant agreed to acquire AB Sanitas for $442.9M in cash, in addition to the assumption of about €50M in debt |
BMM Pharma AB (subsidiary of BioPhausia AB; Stockholm, Sweden) |
Bluefish Pharmaceuticals AB (Stockholm, Sweden) |
8/29/11 |
8/29/11 |
SEK26 ($4. 1) |
BioPhausia agreed to sell its generics business for $4.1M, plus the value of inventories |
Intercool Therapies (subsidiary of Cardium Therapeutics Inc.; San Diego) |
Royal Philips Electronics |
8/19/11 |
8/19/11 |
$1.1 |
Cardium received $1 . 1M for the sale of its subsidiary |
September | |||||
Amira Pharmaceuticals Inc. (San Diego) |
Bristol-Myers Squibb Co. (New York) |
7/25 |
9/9 |
$525 |
Bristol-Myers bought Amira for $375M in cash; shareholders could get another $150M based on milestones |
Azur Pharma Ltd. (Dublin, Ireland) |
Jazz Pharmaceuticals Inc. (Palo Alto, Calif.) |
9/28 |
9/28 |
$525 |
Jazz disclosed a stock-based acquisition of Azur for $525M |
Drug delivery division of Elan plc (Dublin) |
Alkermes Inc. (Waltham, Mass.) |
5/10 |
9/9 |
$960 |
Alkermes acquired the drug delivery arm of Elan in a cash and shares deal valued at $960M; of that, Elan will receive $500M cash, with the balance coming in the form of 31.9M shares |
Epixis SA (France) |
VBI Vaccines (Cambridge, Mass.) |
9/16 |
9/16 |
ND |
VBI completed an acquisition of Epixis, which develops virus-like particle vaccines |
Icagen Inc. (Research Triangle Park, N.C.) |
Pfizer Inc. (New York) |
6/28 |
9/7 |
$56 |
Pfizer completed its buyout of Icagen for $6 per share, although Icagen stockholders Merlin Nexus and New Leaf Venture Partners opposed the acquisition |
PathFinder LLC (Cambridge, Mass.) |
SyntheMed Inc. (Iselin, N.J.) |
12/27 |
9/6 |
ND |
Pathfinder became a public company via a reverse merger with SyntheMed, which owns 20% of the new company to be called PathFinder Cell Therapy Inc. |
October | |||||
Amorcyte Inc. (Hackensack, N.J.) |
NeoStem Inc. (New York) |
7/18 |
10/18 |
$18 |
NeoStem acquired Amorcyte for $10M in stock (6.82M shares) and $2M in warrant (to purchase an additional 1 .88M shares) up front, plus $6M in stock (4.09M shares) based on milestones and an undisclosed earnout payment |
Cephalon Inc. (Frazer, Pa.) |
Teva Pharmaceutical Industries Ltd. (Jerusalem) |
5/3 |
10/11 |
$6.8B |
Teva offered $6.8B in cash, trumping Valeant Pharmaceutical International Inc.'s recent hostile bid of $5.7B; Teva purchased all of the shares for $81.50 each; Cephalon's shareholders approved the acquisition in July and the parties received Federal Trade Commission approval in October |
Cytokine PharmaSciences Inc. (King of Prussia, Pa.) and its UK subsidiary, Controlled Therapeutics (Scotland) Ltd. |
Ferring Pharmaceuticals SA (Saint-Prex, Switzerland) |
10/24 |
10/24 |
ND |
Ferring completed the acquisition for an undisclosed amount |
Evotec Private Ltd. |
Evotec AG (Hamburg, Germany) |
9/30 |
10/4 |
€1 .7 ($2.3) |
Evotec acquired the remaining 40% of equity of its joint venture with DIL Ltd., of Mumbai, India |
Immunologix Inc. (Charleston, S.C.) |
Intrexon Corp. (Blacksburg, Va.) |
10/25 |
10/25 |
ND |
Intrexon acquired Immunologix for an undisclosed amount |
Labopharm Inc. (Laval, Quebec) |
Paladin Labs Inc. (Montreal) |
8/18 |
10/11 |
$20.5 |
Paladin acquired Labopharm for C28.6 cents (27 cents) per share, or about $20.5M in cash |
Nycomed GmbH (Zurich, Switzerland) |
Takeda Pharmaceutical Co. Ltd. (Osaka, Japan) |
5/20 |
10/3 |
€9.6B ($12.9B) |
Takeda paid $12.9B in cash to acquire Nycomed |
Puma Biotechnology Inc. (Los Angeles) |
Innovative Acquisitions Inc. |
10/7 |
10/7 |
ND |
Puma conducted a reverse merger with Innovative Acquisitions so it may go public |
Tonix Pharmaceuticals Inc. (New York) |
Tamandare Explorations Inc. (public shell) |
10/17 |
10/17 |
ND |
Tonix completed a reverse merger with Tamandare, which has a listing on the Over-the-Counter Bulletin Board |
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Notes: # This chart is intended to include not only mergers and acquisitions of entire businesses, but also of divisions or subsidiaries of those businesses, where appropriate. In general, it does not include acquisitions of single products or of manufacturing facilities. * Some companies do not publicly announce the completion of mergers when they occur. Therefore, completion dates are approximate. For those deals that are pending, and for which the acquiring company is issuing stock, the value of the transaction was calculated based on the closing price prior to the first announcement. For stock-based deals that have been completed, the final value was calculated based on the closing price before the merger's completion was announced. ** Denotes the date the item ran in BioWorld International. @ Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending deals, on the date it was announced. ND = Not disclosed | |||||