Sunday, April 26, 2015 1:41:37 PM
Teva bought Auspex for its late stage drug TECHNOLOGY that has the chance to be a new standard of care and for that it paid about $3.5 Billion. Let’s be clear, this tech has no revenues. The purchase was based on forecasted revenues (as determined by Teva’s business development valuation analysis – that may well be different than what Auspex thought they were worth). We might argue that Elite is in a very similar position at this time. Any firm seeking to buy Elite would be buying the potential of their ADF technology; and they also get some generic business thrown in (an attraction for Teva). So, as the Auspex purchase clearly shows, and is supported by other pharma acquisitions, the purchase price for firms with potential blockbuster drugs that have yet to garner revenue continues to be around 3.5 times projected first year revenues. Interesting, is it not?
And, this is only one form of analysis on an acquisition price. There are others...
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