Week of Aug 19, 2019 | Vol. 8, Issue 33
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Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
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Managing Director
Business Development

Managing Director
Head of M&A and Capital Advisory
INDUSTRY M&A SNAPSHOT

Above is an overview of recent industry M&A activity. For additional information, see the charts below or click on the chart above to download complete transaction tables broken out by industry sub sectors.
On Friday, the FDA  greenlighted  Rinvoq, a rheumatoid arthritis med meant to succeed best-selling Humira as copycats bite into its sales. The new product should be available in the U.S. by late August, AbbVie said.

AbbVie had not returned a request for pricing information by press time, but the company did say in a statement that it “continues to work closely with key stakeholders to support patient access to Rinvoq, including offering a patient support program and a co-pay card that may reduce out-of-pocket costs to $5 per month for eligible, commercially-insured patients.”

Regulators based their decision on a phase 3 program dubbed Select, which featured 4,400 patients across five studies. Along the way, Rinvoq, which belongs to the up-and-coming JAK inhibitor class, showed it could top its anti-TNF predecessor in terms of efficacy.

“This is a very important data point for us in the program because we are the first JAK inhibitor to have a head-to-head that is actually able to show a prespecified superiority endpoint with multiple criteria,” Aileen Pangan, executive medical director of clinical development at AbbVie, said in an interview ahead of the approval.

Read more at Fierce Pharma
RECENT INDUSTRY TRANSACTIONS
An Overview of Transactions Within Market Sub-segments
Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts. Total transaction values are provided in USD millions.
M&A TRANSACTIONS
Pharma & Biotech
14 transactions totaling $355 million
Supplies, Equipment & Services
14 transactions totaling $398 million
Healthcare IT & Managed Care
7 transactions
Healthcare Facilities & Distributors
6 transactions totaling $29 million
PRIVATE PLACEMENTS
Pharma & Biotech
18 transactions totaling $400 million
Supplies, Equipment & Services
13 transactions totaling $19 million
Healthcare IT & Managed Care
5 transactions totaling $11 million
Healthcare Facilities & Distributors
5 transactions totaling $2 million
PUBLIC OFFERINGS
Pharma & Biotech
9 transactions totaling $6,294 million
Supplies, Equipment & Services
9 transactions totaling $50 million
Healthcare IT & Managed Care
1 transaction totaling $2 million
Healthcare Facilities & Distributors
4 transactions totaling $2,101 million
INDUSTRY TRADING COMPS
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.

For a complete trading comp analysis (including the individual equities that comprise the sub sectors), click on the table. 

Note: data reflects prior week close.
RECENT INDUSTRY TRANSACTIONS
A Sampling of Relevant Industry Headlines from Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
August 16, 2019 - BioPharma Dive
One class of proteins was at the heart of nearly $100 billion worth oncology M&A over the past decade, according to a new report. They're called kinases, and their job is to tack phosphate groups onto various molecules. Like a switch, the reaction can make the receiving molecule more or less active. Kinases therefore play an important role in cell signaling, yet research has shown they can also facilitate cancer growth.

August 16, 2019 - BioPharma Dive
Celgene on Friday won U.S. approval for Inrebic, a treatment for myelofibrosis that is one of five drugs Bristol-Myers Squibb regarded as particularly valuable in its $74 billion deal to buy Celgene. Celgene paid just over $1 billion upfront in January 2018 to acquire Inrebic's latest developer, Impact Biomedicines. As part of that deal, Impact shareholders are entitled to up to $1.4 billion in milestone payments for regulatory approvals in myelofibrosis and other indications.  

August 15, 2019 - Fierce Pharma
Sanofi and generic drugmakers have been battling back and forth over patents protecting the company’s top oncology product, Jevtana. In the latest round, Sanofi proved victorious. The decision marks a win for Sanofi as it seeks to get the most out of Jevtana, which was the company’s top oncology product by sales last year and pulled in €422 million. In the first half of 2019, the drug generated €237 million. It’s approved to treat certain prostate cancer patients and won its initial FDA approval in 2010.

August 14, 2019 - Outsourcing-Pharma
The multi-stakeholder group is developing a blockchain-powered platform to increase transparency and collaboration in the clinical trial supply chain – and has successfully completed a proof-of-concept project, now looking to next steps.

August 13, 2019 - Outsourcing-Pharma
Saama Technologies today announced that it has signed a definitive agreement to acquire Comprehend Systems, creating an ‘enhanced suite of complementary capabilities’ to ‘facilitate more rapid drug development,’ says company executives.
MARKET REPORTS
Recent Materials Providing Insight Into Healthcare Related Industries
August 2019
July 2019