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A wave of big-ticket transactions by global pharmaceutical companies drove life sciences M&A activity to its fourth-largest year on record in 2019, with aggregate deal value in the pharmaceutical, medical and biotech industry reaching $234.2 Year of the Life Sciences Mega-Deals. billion acquisition of The Medicines Company.
But it wasn’t all carve outs and concerned investors – even with the headwinds in the industry and beyond, there were still several traditional public M&A deals involving biotechnology or medical device companies, as large pharmaceutical companies continued to have cash to deploy for acquisitions. Let’s dig in.
A notable example was a consortium of PE funds agreeing to acquire a majority stake in Medline for $34 billion. For example, early in 2021, Zimmer Biomet Holdings announced that it would spin off its spine and dental businesses into a new publicly traded company as a way to “optimize resource allocation” among its remaining businesses.
Going further, rather than arranging upfront committed debt financing, Thoma Bravo opted to fund the purchase price for its announced $2.3 Looking forward, we should expect even more enforcement as the agencies continue to execute the Biden administration’s mandate for increased enforcement and receive additional funding for that mission.
Public company deals: Smaller bites in more focused therapeutic areas The landscape for public company sales in the life sciences sector in 2024 was notably quieter than expected, with anticipated high-profile deals failing to materialize. Similarly, Novo Holdings $16.5
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