Deals Of The Week: LeoPharma/Peplin; Bayer/Algeta; Roche/PTC Therapeutics
Each week, "The Pink Sheet" presents commentary on some of the week's most interesting business deals, contributed by the editors of the IN VIVO blog. Visit the blog at 1http://invivoblog.blogspot.com/.
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PERTH, Australia - As Australia's biotech sector comes of age, it is beginning to attract the attention of multinational companies, as evidenced by stepped-up merger and acquisition activity and rounds of new funding in the last six months
Extraordinary times for capital markets have made cheap public biotechs attractive to venture investors. These private investments in public equity (PIPEs) are seen by some as a lifeline to a troubled and undervalued sector, and many VCs are considering significant public investments. But few deals are likely to get done as venture funds set a high bar for investment, regardless of fire-sale prices. Recipients of large PIPE deals may indeed provide venture-like returns for private investors, but an analysis of these financings shows why they are the exceptions that prove the rule.
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011