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Deals And M&A NEWS

HONG KONG – South Korean company Daewoong Pharmaceutical Co. Ltd. is partnering with Universitas Indonesia (UI), a state university in Jakarta, to jointly develop new biological medicines. The collaboration – the first of its kind in Indonesia – is expected to help Daewoong expand its global manufacturing and R&D network.

Cash improves ‘optionality’

DUBLIN – Shire plc is offloading its oncology business to Les Laboratoires Servier SAS for $2.4 billion in cash, which represents a multiple of 9.2 times its 2017 revenue of $261.7 million.

Let's make a deal

Despite the fact that the industry inked more than 1,000 deals last year, it appears that biopharma companies are not losing their appetite for dealmaking. According to data from BioWorld and Cortellis Deals Intelligence, there were 271 deals signed in the first quarter of 2018, on par with 2017 first quarter transactions. However, the total value of those deals topped $30 billion, which is 33 percent higher than last year's total, reflecting that it has become a seller's market with competition for biotech assets driving up their price. 

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