Notably absent from AGN pipeline discussion on today’s CC: bimatoprost for androgenetic alopecia (male/female pattern baldness). This was once considered AGN’s hottest pipeline program, ahead of even DARPin.
AGN post-mortem: From 1/1/98 (when David Pyott became CEO) to the buyout by ACT at a nominal price of $219/sh, AGN generated a shareholder return of 3600%, adjusted for splits, dividends, and the spin-off of Advanced Medical Optics* in 2002.
J.P. Morgan Chase & Co. represented Actavis, which swooped in and saved Allergan from a protracted hostile takeover battle with Valeant Pharmaceutical International. For its work, J.P. Morgan’s bankers earned $65 million in fees… That payout…ties the $65 million Morgan Stanley earned for advising Wyeth on its $68 billion sale to Pfizer in 2009.
Meanwhile, Allergan’s bankers, which spent more than six months fighting off Valeant this year, earned $112.2 million in total with Goldman Sachs Group and Bank of America Merrill Lynch each taking home $56.1 million.
DealPoint Data adds together the amounts being paid to each bank to count them as the single largest fee for an M&A target’s advisers in its database.
Actavis plc…and the owners of Auden Mckenzie Holdings Limited…today announced that they have reached a definitive agreement, under which Actavis will acquire Auden Mckenzie for approximately £306 million in cash, plus a two-year royalty on a percentage of gross profits of one of Auden Mckenzie's products.
The $66B AGN deal hasn't even closed yet and ACT is already back in roll-up mode.