Generic drug makers continue to drive deal making
While debt-laden Teva led the deals in September through its disinvestment efforts, the biggest pharma deal in October was also from the world of generics as Amneal decided to merge with Impax.
With the intention to combat pricing pressure being faced by generic drug manufacturers, the all-stock Impax-Amneal deal will create the fifth-largest generics player in the US. Though Impax shareholders will own 25 percent of the new company, the merged entity will retain Amneal’s name. The value of the deal was estimated at US$ 6.4 billion.In a smaller deal, Lupin acquired Symbiomix Therapeutics for US$ 150 million to gain access to a women’s healthcare drug brand Solosec, which received US Food and Drug Administration (USFDA) approval in September 2017.Solosec contains the antibiotic secnidazole and is the first single-dose oral treatment for bacterial vaginosis, the most common vaginal infection in women aged 15 to 44 years, according to the Centers for Disease Control and Prevention.
Novartis bets big on radiopharmaceuticals
Novartis bolstered its oncology portfolio in a field it is familiar with — neuroendocrine tumors. The Swiss drugmaker entered into a memorandum of understanding with French radiopharmaceutical company Advanced Accelerator Applications (AAA). Under the agreement, Novartis would make a cash offer for 100 percent of AAA’s share capital that valued the company at US$ 3.9 Billion.