Replies to post #64410 on Biotech Values

[genisi]

FACTBOX: Largest healthcare acquisitions

TEVA/BRL deal ranks as the third biggest healthcare deal, both worldwide and in the U.S., this year. It trails Novartis' pending $38 billion acquisition of Alcon and Takeda's $8.7 billion acquisition of Millennium.
In terms of all healthcare deals on record, the Barr-Teva deal ranks as the 36th-biggest worldwide healthcare deal of all time, and the 23rd-largest ever in the United States.

The following list ranks the 10 largest healthcare deals, according to Thomson Reuters.

TARGET BUYER VALUE*

1. Warner-Lambert Co Pfizer Inc $89.2 billion

2. SmithKline Beecham Plc Glaxo Wellcome Plc $76.0 billion

3. Aventis SA Sanofi-Synthelabo SA $60.2 billion

4. Pharmacia Corp Pfizer Inc $59.5 billion

5. Alcon Inc Novartis AG $38.3 billion

6. Astra AB ZENECA Group Plc $34.6 billion

7. Ciba-Geigy AG Sandoz AG $30.1 billion

8. Guidant Corp Boston Scientific Corp $27.9 billion

9. Pharmacia & Upjohn Inc Monsanto Co $26.5 billion

10. Caremark Rx Inc CVS Corp $26.3 billion

NOTE: * Deal value excludes debt. SOURCE: Thomson Reuters

http://www.reuters.com/article/rbssHealthcareNews/idUSN1840494020080718

[DewDiligence]

Recent Biotech Buyouts at a Large Premium

[Added ARI.TO.]

 
 Acquired         Premium    Deal         iHub  
 Company  Buyer   to Market  Value  Date  Reference  
 KOSN     BMY       233%     $190M  5/08  #msg-29647147 
 COLY     PFE       167%     $165M 11/07  #msg-24600805 
 IOMI     Intercell 147%     $190M  5/08  #msg-29232165  
 BTRX     Stiefel   136%     $150M  6/08  #msg-30201906 
 SGXP     LLY       119%     $64M   7/08  #msg-30547648 
 ENCY     PFE       118%     $350M  2/08  #msg-26978155 
 TRCA     Ipsen     104%     $660M  6/08  #msg-29795183  
 Speedel  NVS        94%     $880M  7/08  #msg-30588524 
 SIRT     GSK        85%     $620M  4/08  #msg-28705020  
 Jerini   Shire     *71%     $520M  7/08  #msg-30452872 
 MLNM     Takeda     53%     $8.8B  4/08  #msg-28365383 
 LEVP     VPHM     ††49%     $440M  7/08  #msg-30704409 
 BRL      TEVA     **42%     $9.0B  7/08  #msg-30792830 
 APPX     Fresenius †29%     $940M  7/08  #msg-30498388 
 ARI.to   Roche     ‡15%     $190M  7/08  #msg-30904056 
  
 *199% premium to volume-weighted 
 price during preceding 3 months. 
  
 **Premium based on 7/16/08 close;  
 $9B price includes assumption of debt. 
  
 †Premium reaches 63% if earn-out met. 
  
 ††Premium reaches 103% if earn-out met; 
 base price subject to collar. 
  
 ‡Number is misleading inasmuch as Arius announced in 
 May 2008 that it was pursued by an unnamed suitor.

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