Oncology Gold Rush

In October 2023, US pharma giant Bristol Myers Squibb (BMS) announced its intention to acquire California-based oncology company Mirati Therapeutics for US$5.8 billion. Following the deal, the group will gain ownership of Mirati’s FDA-approved lung cancer drug, Krazati. The purchase comes amid the looming loss of patent protection in the coming decade for several key BMS drugs, and will enable the company to diversify its oncology offering. Mirati has been keenly sought-after in recent years; before BMS made its move, Bloomberg reported that French pharma company Sanofi had been interested in making a bid. Oncology dealmaking fuels biotech M&A | M&A Explorer (whitecase.com)
Pfizer Inc. (NYSE: PFE), 14 December 2023, today announced the successful completion of its acquisition of Seagen Inc. (NASDAQ: SGEN), a global biotechnology company that discovers, develops and commercializes transformative cancer medicines. Pfizer completed its acquisition of all outstanding common stock of Seagen for $229 in cash per share, for a total enterprise value of approximately $43 billion. Pfizer Completes Acquisition of Seagen | Pfizer
AstraZeneca will acquire the cash, cash equivalents and short term investments on Fusion’s balance sheet, which totalled $234m as of 31st December 2023. if achieved, a transaction value of approximately $2.4bn, a 126% premium to Fusion’s closing market price on 18th March 2024 and a 111% premium to the 30-day VWAP. As part of the transaction, AstraZeneca to acquire Fusion to accelerate the development of next-generation radioconjugates to treat cancer
Novartis enters agreement to acquire Mariana Oncology, strengthening radioligand therapy pipeline. Under the terms of the agreement, Novartis will make an upfront payment of USD 1 billion and additional USD 750 million in payments upon completion of pre-specified milestones. Novartis enters agreement to acquire Mariana Oncology, strengthening radioligand therapy pipeline | Novartis

Oncology Deal making fuels gold rush in Biotech M&A

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