Since 2014, specialising in Mergers & Acquisitions
DOWNLOAD PDF Every few decades, the pharmaceutical industry discovers a molecule that completely changes the way we live. Insulin did it in the 1920s, penicillin followed in the 1940s, and statins in the 1980s. It’s been a long time coming, but GLP-1-based therapies now appear poised to join that lineage. In a sense, the comparison … Continue reading How a Pre-Revenue Anti-Obesity Biotech Became Pharma’s Most Coveted Target: Inside the $10bn Bidding War for Metsera
DOWNLOAD PDF Introduction Although improvements in medical technology have accelerated at breakneck speed over the past decades, drug discovery has been seemingly inverting this trend. Since the 1950s, the chances of a drug successfully passing clinical trials and becoming a new molecular entity (NME) have been steadily declining. This was the observation that researchers at … Continue reading On Recursion–Exscientia and The Long Game of Reinventing Drug Discovery
INTRODUCTION: Novo Holdings, the Danish investment company and majority shareholder of Novo Nordisk, has recently been linked to a potential acquisition of Catalent, one of the world’s largest contract manufacturers. Novo Nordisk, currently the world’s second most valuable pharmaceutical company and Europe’s largest by market capitalization, has garnered significant attention due to its market dominance … Continue reading Novo Nordisk’s Strategic Pursuit: Exploring the Potential Catalent Acquisition
INTRODUCTION Announced on December 22, 2023, Bristol-Myers Squibb (BMS) declared the successful finalization of its takeover of Karuna Therapeutics, Inc. (Karuna) on March 18, 2024. Gordon Dyal & Co. and Citi are serving as buy-side financial advisors to Bristol Myers Squibb, while Goldman Sachs & Co. LLC is serving as exclusive sell-side financial advisor and … Continue reading Bristol Myers Squibb has acquired Karuna in a $14.0 billion cash deal
INTRODUCTION On the 20th of July 2023, shareholders of Dechra Pharmaceuticals, a UK-based veterinary pharmaceutical company, approved the recommended cash acquisition by Freya Bidco Limited, a vehicle indirectly owned by private equity firm EQT. The £4.5bn deal has been one of the largest leveraged buyouts to take place in Europe this year, occurring during a … Continue reading Dechra Pharmaceuticals has arranged upon a £4.5bn takeover offer from PE firm EQT
INTRODUCTION On the 13th of March 2023, Pfizer. Inc announced a definitive agreement to acquire Seagen Inc. for a total enterprise value of approximately $43 billion based on a cash offer price of $229 per share. The deal would benefit from both sides: on one hand it will allow Pfizer to extend their oncology Portfolio … Continue reading Pfizer Inc acquires Seagen Inc in $43 billion deal
Introduction: As of 1st November 2022, Johnson & Johnson announced that it will be acquiring Abiomed, for an enterprise value of approximately $16.6 billion, with $380.00 per share in cash. Existing Abiomed shareholders will also receive up to $35.00 per share in cash under a non-tradeable contingent value right (CVR). As per Joaquin Duato, the … Continue reading Johnson & Johnson acquires cardiovascular technology group in $16.6bn deal
INTRODUCTION Novartis has agreed to sell 53.3 million (approximately 33%) Roche bearer shares in a bilateral transaction to Roche for a total consideration of USD 20.7 billion. Novartis has been a shareholder of Roche since May, 2001 and currently holds 53.3 million bearer shares of Roche’s common stock, representing approximately 33% of aggregate outstanding bearer … Continue reading Novartis sells Roche stake for $20.7 billion
Introduction: On 12 December 2020, AstraZeneca announced a definitive agreement to acquire Alexion Pharmaceuticals, for a value of $39 bn. For each share of Alexion, the shareholders will receive $60 in cash and a little over 2 AstraZeneca American Depositary Shares (ADS), corresponding to half of an ordinary AstraZeneca share. Alexion shareholders will own a 15% share in … Continue reading AstraZeneca’s Alexion $39bn takeover
Bocconi Students M&A Circle 
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