In 2012, Buyer’s Market Made Alliances Rarer
With little leverage against Big Pharma, some smaller companies are turning away from long-standing partnering strategies. It’s one reason dealmaking slowed considerably in 2012, part of a three-year trend that also highlights increasing reliance on heavily structured partnerships.
You may also be interested in...
An analysis of alliance deals in 2013 shows pharmas’ continued reliance on heavily structured deals, a strategy that has often frustrated biotechs looking to partner. But the appetite for new IPO listings may be giving them more options, provoking competitive deal terms from licensors.
AstraZeneca was the top in-licenser, snagging a $3.4 billion pact with BMS for Amylin’s diabetes assets, making metabolic diseases the leading therapeutic area in biopharma alliances.
Now focused on two key programs in its osteoarthritis portfolio, the Massachusetts drug developer will align itself for a more traditional exit rather than a Big Pharma partnership.