Ophthalmology M&A Engine Keeps Roaring As Akorn Buys Out Hi-Tech
This article was originally published in The Pink Sheet Daily
Executive Summary
CEO Raj Rai calls the transaction a “transformative event” for Akorn that will be instantly accretive and produce between $15 million and $20 million of run-rate synergies within 12 months. Acquisition of Hi-Tech adds prescription and OTC products, 18 filed ANDAs and increased manufacturing capability.
You may also be interested in...
Deal Watch: Nanotech Formulations Of Doxorubicin Highlight Recent Deal-Making
France’s BioAlliance adds to its oncology portfolio through an all-equity merger with Topotarget; NanoSmart and NanoValent team up on an ovarian cancer program; Mylan licenses two respiratory therapies from Prosonix; and Actavis adds to its specialty generics portfolio with products from Akorn.
Biopharma Dealmaking Quarterly Statistics, Q3 2013
Biopharma financing in Q3 2013 totaled $4.6 billion, a 58% drop from the second quarter; Perrigo’s $8.3 billion acquisition of Elan made up more than half of the M&A dollar value; and marketed products made up the majority of licensed products.
Roche Points To Pipeline Depth Beyond Oncology
At a late-stage pipeline review, Roche execs stressed the advances being made outside the company’s specialty focus on oncology, including neuroscience, inflammation and ophthalmology.