Week of October 19th, 2020 | Vol. 9, Issue 42 |
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In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events
Quick Links
Contact Information
Managing Director
Business Development
Managing Director
Head of M&A and Capital Advisory
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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.
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For more information about our consumer healthcare JV with The Emerson Group, Daybreak Consumer Care, click here.
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MARKET REPORTS
Recent Materials Providing Insight Into Healthcare Related Industries
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Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
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Project Trident
Buy-side | Generic Pharma | Manufacturing liquid generics
Project Montage
Strategic Advisory | Generic Pharma + CDMO | Exploring full range of transaction alternatives
Project Aspen
Sell-side | Pharma Services | Multi-national contract manufacturing and packaging organization
Project Bulldog
Sell-side | Pharma Services| Life sciences consulting firm
Project Olympus
Sell-side | Pharma | Portfolio of generic injectable products
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Eli Lilly is snapping up Disarm Therapeutics, a biotech working to “disarm” the SARM1 protein, which plays a key role in neurodegeneration. The deal is worth $135 million upfront but Disarm investors could reap as much as $1.225 billion down the line if Lilly translates its preclinical work to marketed products.
Disarm emerged in 2017 with $30 million to develop SARM1 inhibitors licensed from Washington University in St. Louis. SARM1 is involved in the degeneration of axons, the nerve fibers that carry signals between neurons.
The hope is targeting axonal degeneration could slow or even stop the progression of diseases of the central, ocular and peripheral nervous systems, including multiple sclerosis, glaucoma, Alzheimer’s disease and amyotrophic lateral sclerosis (ALS).
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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.
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Pharma & Biotech
8 transactions totaling $1,694 million
Supplies, Equipment & Services
17 transactions totaling $3 million
Healthcare IT & Managed Care
6 transactions totaling $1,382 million
Healthcare Facilities & Distributors
11 transactions totaling $11 million
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Pharma & Biotech
32 transactions totaling $986 million
Supplies, Equipment & Services
21 transactions totaling $540 million
Healthcare IT & Managed Care
19 transactions totaling $285 million
Healthcare Facilities & Distributors
3 transactions totaling $32 million
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Pharma & Biotech
27 transactions totaling $3,182 million
Supplies, Equipment & Services
7 transactions totaling $293 million
Healthcare IT & Managed Care
1 transaction totaling $6 million
Healthcare Facilities & Distributors
2 transactions totaling $11 million
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INDUSTRY TRADING COMPS
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
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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.
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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.
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October 15, 2020 - Fierce Biotech
The deal includes an initial payment of about $127.5 million, covering all the equity that Astellas did not acquire as an investor in Iota’s 2018 series A round. Astellas also signed on to $176.5 million in development-related milestone payments. The deal is expected to close before the end of March 2021, and afterward Iota will be an independent subsidiary under Astellas' U.S. umbrella.
October 15, 2020 - Fierce Pharma
Headlines about COVID-19 vaccine and drug trial pauses may ring alarm bells for millions of people watching their progress, but FDA Commissioner Stephen Hahn, M.D., has another point of view. The breaks in the action actually show the development process is working as intended, Hahn told Bloomberg.
October 13, 2020 - Fierce Pharma
Some still see the doctor's office as a no-go zone as the coronavirus continues to circulate, and clinical trials have endured plenty of pandemic-related speed bumps. Neither of those things is good for a drugmaker. But Johnson & Johnson managed to beat the market on pharma growth in the third quarter—and with new launches still on their way and newer meds pumping out sales, the company feels even better about 2021.
October 12, 2020 - Fierce Pharma
The company plans to use the Chapter 11 bankruptcy process to restructure, reduce its debt by $1.3 billion and enter settlements with various plaintiffs over opioids and Acthar Gel. The process is the “best opportunity to maximize the value of the enterprise and position the Ccmpany for the future in light of the current challenges it faces,” CEO Mark Trudeau said in a statement. He acknowledged the company faces “significant litigation and debt issues.”
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Welcome to Bourne, let's talk.
Since our founding in 2001, Bourne Partners has remained focused on fulfilling the unique needs of established, middle-market healthcare and pharmaceutical companies across the globe. Our track record includes advising middle market companies in healthcare M&A assignments totaling more than $7 billion, and growing companies into successful and well-positioned pharmaceutical enterprises.
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