Senior Deals Analyst
Latest From Maureen Riordan
Biogen and Denali entered into a potential $2.15bn alliance for Denali’s DNL151 for Parkinson’s disease and other neurodegenerative diseases. Siemens Healthineers announced plans to acquire Varian Medical for $16.4bn. Financing reached $7.9bn in biopharma, $501m in device, and $639m in diagnostics.
Daiichi Sankyo partnered its Phase I DS-1062 for non-small cell lung cancer and triple negative breast cancer with AstraZeneca in a deal that could be worth up to $6bn. Medtronic entered into an agreement to acquire Medicrea in an all-cash tender offer for total consideration of approximately $228m (including approximately $57M of net cash and liabilities). Financing reached $11.7bn in biopharma, $1.4bn in device, and $597m in diagnostics.
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.
During Q2 biopharmas brought in an aggregate $32.3bn in financings and device company fundraising totaled $9.5bn; while in vitro diagnostic firms and research tools players brought in $2bn across the period.
Genmab and AbbVie penned a broad oncology collaboration worth up to $3.9bn. Novo Nordisk entered into an agreement to acquire Corvidia Therapeutics for $725m up front in cash and up to $1.375bn in earn-outs.
Device financing totaled $1.4bn during the first quarter of 2020. Merger and acquisition activity reached $714.5m, with only two transactions hitting the six-figure mark. Financings by diagnostics/research players totaled $985m and just six companies were acquired, four of which together were valued at $11.6bn, most coming from Thermo Fisher Scientific’s $11.5bn buy of fellow public life sciences company Qiagen NV.