Deals of the Week: IPO Window Raises Stakes For M&A
Rather than continue down the path to a public offering, Aragon sells to J&J for a hefty price. Also, MedImmune strikes a diabetes and obesity deal with NGM, Teva buys respiratory drug maker MicroDose, and Sanofi allies with the Curie Institute to study ovarian cancer.
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Meanwhile, companies like Mylan and Novartis also reportedly have joined the Actavis chase. In addition, there’s been deal-making news from Elan and Theravance, Merck-Serono and Quintiles, and AbbVie and Alvine.
A well-connected fund that invests on behalf of a group of high-net-worth investors provides cash to complete a Phase II trial on prostate cancer drug ARN-509, and bring a breast cancer drug into the clinic.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.