Pharma/biotech mergers and acquisitions in 2008

Company    Partner    Deal value ($)    Completed

Abbott Laboratories    Ibis Biosciences    $210.0 million    Jan 2009  (e)  Abraxis BioScience    Shimoda    $15.0 million    Apr 2008  Access Pharmaceuticals    MacroChem    Undisclosed    3Q 2008 (e)  AVI BioPharma    Ercole Biotech    $9.0 million    Mar 2008  Aida Pharma    Jiangsu Institute of Microbiology    undisclosed    Mar  2008  American Oriential Bioengineering    China Aoxing (38% stake)    $18.0  million    TBC  Amneal Pharmaceuticals    Interpharm    Undisclosed    TBC  Antisoma    Xanthus Pharmaceuticals    $52.2 million    TBC  Apotheka    MACH4 (25% stake)    Undisclosed    TBC  Aspen    Shelys Africa (60% stake)    Undisclosed    TBC  Affymetrix    Panomics    $73.0 million    TBC  AstraZeneca    Merck & Co (rights to four drugs from dissolved JV)    $2.6 billion    2Q 2008  Bayer HealthCare    Direvo Biotech AG    $299.4 million    TBC  bioMerieux    AB BioDisk    Undisclosed    June 2008  bioMerieux    AviaraDx    $60.0 million    TBC  bioMerieux    PML Microbiologicals    $29.6 million    Dec 2008  Biotie Therapies    elbion GmbH    Undisclosed    Nov 2008    Boehringer  Ingelheim    Actimis Pharmaceuticals    $515.0 million    TBC  Bristol-Myers Squibb    Kosan Bioscience    $190.0 million    TBC  BTG    Protherics    $342.2 million    Dec 2008 (e)  China Aoxing    Shijiazhuang Lerentang Pharmaceutical    $10.8 million  May 2008 (e)  China Bio-Immunity    Lawford Asia Limited    Undisclosed    Oct 2008  Critical Therapeutics    Cornerstone BioPharma    $63.0 million    Nov  2008  China Sky One    Heilongjian Tianlong Pharmaceutical    $8.0 million  plus shares    Mar 2008  Clinical Data    Adenosine Therapeutics    $11.0 million    Aug 2008  Clinical Data    Avalon    $10.0 million    TBC  CSL    Talecris Biotherapeutics    $3.1 billion    TBC  CytRx    Innovive Pharmaceutical    $21.3 million    Sept 2008  Daiichi Sankyo    U3 Pharma    $232.7 million    TBC  Daiichi Sankyo    Ranbaxy Laboratories    $4.6 billion    Oct 2008  Daiichi Sankyo    Merck Serono's Turkish cardio-metabolism sales unit  Undisclosed    Nov 2008  Dr Reddy's    Dow Pharma (UK small-molecule sites)    Undisclosed    Apr  2008 (e)  Dr Reddy's    Jet Generici Srl    Undisclosed    Apr 2008  Dr Willmar Schwabe Pharmaceuticals    Enzymatic (outstanding stake)  Undisclosed    TBC  EUSA Pharma    Cytogen    $22.6 million    May 2008  Enzo Biochem    Biomol    $18.0 million    May 2008  Eli Lilly    SGX Pharmaceuticals    $64.0 million    Oct 2008  Eli Lilly    ImClone Systems    $6.5 billion    Nov 2008  Evotec    Renovis    $151.8 million    1Q 2008 (e)  Fresenius    APP Pharmaceuticals    $3.7 billion    TBC  Galapagos    Sareum (UK discovery assets)    $1.0 million    Sept 2008  Genmab    PDL Biopharma's Ab production plant    $240.0 million    Mar  2008  GlaxoSmithKline    Bristol-Myers Squibb Pakistan/Egypt units    $138.5  million    TBC  GlaxoSmithKline    Genelabs Technologies    $57.0 million    4Q 2009 (e)  GlaxoSmithKline    Sirtris Pharmaceuticals    $720.0 million    June  2008  ICON    Prevalere Life Sciences    $35.0 million    TBC  Inovio Biomedical Corp    VGX Pharmaceuticals    Undisclosed    4Q (e)  Intercell    Iomai    $189.0 million    TBC  Intercytex    Axordia    Undisclosed    1Q 2009 (e)  Invida Pharmaceuticals    Valeant Pharmaceuticals' Asia-pacific business  $37.8 million    Mar 2008  Invitrogen    Applied Biosystems    $6.7 billion    Dec 2008  Ipsen    Tercica    $373.0 million    Oct 2008  Isogenica    Karyon    Undisclosed    May 2008  JHP Pharmaceuticals    Nitromed's BiDil assets    $24.5 million    1H  2009 (e)  Johnson & Johnson    Amic    $40.0 million    TBC   Johnson & Johnson    Omrix Biopharmaceuticals    $438.0 million    Dec  2008  Company    Partner    Deal value ($)    Completed  Johnson & Johnson    Mentor Corp    $1.07 billion    TBC  Jubilant Organosys    Draxis Health    $225.0 million    TBC      Kinetic Concepts    LifeCell    $1.7 billion    TBC  King Pharmaceuticals    Alpharma    $1.6 billion    Dec 2008  Kirin Pharma    Kyowa Hakko Kogyo    $2.55 billion    Oct 2008  Kowa Company    ProEthic Pharmaceuticals    Undisclosed    Jan 2008  Ligand Pharmaceuticals    Pharmacopeia    $70.0 million    Dec 2008  Meda AB    Valeant's European drug business)    $392.0 million    Sept  2008  Novartis    Protez Pharmaceuticals    $100.0 million    TBC  OncoGenex Technologies    Sonus Pharmaceuticals    Undisclosed    TBC       Oncologics    Triton    Undisclosed    June 2008  Paion AG    CeNeS Pharmaceuticals    $21.7 million    June 2008  Perrigo    Laboratorios Diba SA    $25.0 million    Oct 2008  Pfizer    Serenex    Undisclosed    2Q 2008  Pfizer    Schering-Plough (animal health products)    Undisclosed    Oct  2008  PharmAthene    Avecia (biodefense vaccine business)    $20.0 million   Apr 2008  Progen Pharmaceuticals    Avexa    Undisclosed    TBC  Protiva    Tekmira    Undisclosed    May 2008  Qiagen    Corbett Life Science    $66.0 million    TBC  Quintiles Transnational    Targeted Molecular Diagnostics    Undisclosed    Dec 2008  Recordati    Yeni Ilac    $59.8 million    TBC  Recordati    Portuguese production business to Tecnimede    $31.3  million    Nov 2008  Recipharm    AstraZeneca Swedish biomanufacturing plant    Undisclosed  Nov 2008  Replidyne    Cardiovascular Systems    Undisclosed    TBC  Roche    Piramed    $160.0 million    2Q (e)  Roche    Chugai (increased stake from 50.1% to 59.9%)    Undisclosed   May 2008  Roche    Memory Pharmaceuticals    $50.0 million    TBC  Roche    Mirus Bio Corp    $125.0 million    2Q 2008  Sanofi-Aventis    Acambis    $549.7 million    Sept 2008  Sanofi-Aventis    Symbion    $543.9 million    Sept 2008 (e)  Sanofi-Aventis    Zentiva    $2.6 billion    TBC  Sepracor    Oryx Pharmaceuticals    $50.0 million    June 2008  Shionogi    Sciele    $1.1 billion    Oct 2008  Shire    Jerini    $521.2 million    Dec 2008  Solvay Pharmaceuticals    Innogenetics    $282.7 million    2Q (e)  Sorin    Argos Soditic (renal care business)    Undisclosed    TBC  Stiefel Laboratories    Barrier Therapeutics    $145.0 million    TBC  SYGNIS Pharmaceuticals    Amnestix    $6.0 million    TBC  Takeda    Millennium Pharmaceuticals    $8.8 billion    Sept 2008  Teva    Bentley (generics business)    $360.0 million    July 2008  Teva    CoGenesys    $400.0 million    TBC  Teva    Barr Pharmaceuticals    $7.46 billion    Dec 2008  The Medicines Company    Curacyte Discovery GmbH    $22.5 million    Aug  2008  TPG Capital    SIA International (50% stake)    $800.0 million    TBC  Transcept Pharmaceuticals    Novacea    Undisclosed    4Q (e)  Nattopharm ASA    MGP Diagnostics    Undisclosed    TBC  Nichi-iko Pharmaceuticals    Teikoku Medix (outstanding stake)  Undisclosed    Mar 2008  Nordic Capital    ConvaTec (B-MS unit)    $4.1 billion    TBC  Novartis    Alcon (further 25% stake) from Nestle    $11.0 billion    July 2008  Novartis    Nektar (pulmonary drug delivery business)    $115.0 million  TBC  NuVasive    Osteocel Biologics    $35.0 million    July 2008  Nycomed    Bradley Pharmaceuticals    $95.0 million    Oct 2008      Vaxine    Protein Sciences    $60.0 million    TBC  Valeant Pharmaceuticals International    Coria Laboratories    $95.0  million    TBC  Valeant Pharmaceuticals International    DermaTech    $12.5 million    Nov 2008  Valeant Pharmaceuticals International    Dow Pharmaceuticals Sciences  $285.0 million    Dec 2008  Viropharm    Lev    $442.9 million    TBC  TCB = To Be Confirmed    (e) = Expected date of closing