Depomed To Make Treasure Out of J&J Trash With Nucynta Buy
This article was originally published in The Pink Sheet Daily
Depomed is leveraging all its value to bet on a drug that was virtually ignored by its big pharma owner with its billion-dollar buy of Janssen’s Nucynta.
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Array partners with Pierre Fabre to develop and commercialize the MEK and BRAF inhibitors it got from Novartis earlier this year. Astellas buys ophthalmology company Ocata, while divesting dermatology portfolio to Leo Pharma.
AstraZeneca and Genentech sign agreements with a number of firms with promising early stage assets, with Bristol looking to spread reach into rare cancers; J&J joins the game. Drama continues to unfold for Mylan/Perrigo, Shire/Baxalta and Horizon/Depomed.
Biopharma financing reached $15.1 billion, with record-breaking FOPO dollar volume making up close to $10 billion of the total; AbbVie topped the $66.5 billion M&A activity with its $20 billion buy of Pharmacyclics; and gastroenterology was one of the most highly partnered therapeutic areas.