Norway’s Xellia Pharma Acquired By Novo A/S In $700 Million Buyout
This article was originally published in The Pink Sheet Daily
3i sells Nordic antibacterial manufacturer Xellia Pharmaceuticals, which has plans to develop novel antibiotics, new formulations and new bulk generics.
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Q2 2013 biopharma financing increased 139% to $11 billion over Q1’s $4.6 billion, thanks mostly to two huge transactions by Valeant to fund its $8.7 billion takeover of ophthalmics player Bausch & Lomb, the company’s largest acquisition to date. Options and antibody-drug conjugates featured prominently in the alliances.
M&A can be expensive, but sometimes deals pay huge dividends. Bristol’s $2.1 billion acquisition of Medarex from 2009 looks like it’ll pay for itself many times over. Plus Actavis buys Warner Chilcott, Novo buys Xellia, and Elan and BTG each keep very busy.
The combined specialty pharma company to be a leader in abuse-resistant pain meds.