Deals Of The Week: Novartis Places Bid To Dominate In Cancer
Novartis beefs up its immunotherapy pipeline, while French biotech Servier makes a play to get in the CART game. Yet, the deal on everybody’s lips is Actavis’ acquisition of Forest. Plus news on Gilead and Pfizer.
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The hot field of immuno-oncology once again dominated the deal landscape with tie-ups between Bristol and Five Prime, Tesaro and AntaptysBio, and Medimmune and MD Anderson. Kythera and Bayer parted ways while Sanofi Pasteur teamed up with SK Chemicals.
Servier inks its second deal in less than two weeks, this time for potential diabetes candidates. While both deals are early, they mark the French biotech’s foray into two hot fields of research.
Actavis’ proposal to buy Forest Labs for $25 billion in stock and cash was driven by consolidating customers and fierce competition in traditional Western markets. Different pressures, namely the tough-to-manage patent cliff, as well as leadership succession issues and investor unrest, drove Forest into the arms of a suitor.