Thanks to deals signed on Monday alone, another $17 billion is set to change hands in the hyperacquisitive drug business, a single-day record that closes out a bracing quarter for buyouts. But with industry titans paying ever-higher prices for a shrinking number of assets, how long can the good times roll?
Fujifilm has dipped into its multibillion-dollar cache of buyout cash for the $307 million it needed to acquire Cellular Dynamics International, one of the pioneers in the stem cell research business.
Shire is an acquisitive company with a focus on rare diseases. BioMarin fits the same description. A blog post that, by its own admission, "might be codswallop," reported that the former is considering buying the latter. And those three facts combined to send the shares of BioMarin, far from a penny stock, up as much as 15% on Friday, illustrating how the biotech boom has changed Wall Street's perception of the drug industry.
Gastro drug developer Synergy Pharmaceuticals is considering putting itself up for sale, Bloomberg reports, perhaps emboldened by the high price secured by competitor Salix Pharmaceuticals.
Antech Diagnostics, the lab division of veterinary hospital chain VCA, has agreed to buy the assets of Abaxis' Veterinary Reference Laboratory for $21 million in cash.
Orphan drug biotech Retrophin is the new owner of an FDA-approved rare disease treatment and a potentially lucrative voucher for a future speedy review thanks to a $75 million buyout agreement.
Kite Pharma, a leader among companies in the fast-moving field of cancer immunotherapy, is expanding its arsenal of potential treatments and making European landfall with a biotech buyout.
Respiratory biotech Pulmatrix is taking an end-around path to the public market, signing a deal to merge with tiny Ruthigen to better fund its pipeline of inhalable treatments.
Pershing Square Capital Management recently took a 5% stake in Valeant Pharmaceuticals in what some Wall Street insiders say is the opening salvo in what could be an eventual merger between Valeant and animal health giant Zoetis.
Ember Therapeutics, a Third Rock Ventures-founded biotech startup that closed its doors late last year, is getting a second chance thanks to a small New York drug developer.