August round-up of pharma/biotech M&A activity
US pharma giant Pfizer’s (NYSE: PFE) $14 billion deal to buy burgeoning biotech company Medivation (Nasdaq: MDVN) was far and away the biggest news in the world of pharmaceutical mergers and acquisitions during August.
That is not to say there were not other deals done, with another interesting one coming with the announcement that Israeli generics behemoth Teva Pharmaceutical Industries (NYSE: TEVA) had entered into a definitive agreement to buy Allergan’s (NYSE: AGN) Anda subsidiary, the fourth largest distributor of generic pharmaceuticals in the USA, for $500 million. That came hot on the heels of Teva completing its $40.5 billion buy of the Allergan Generics business.
Serial dealmaker Sorrento Therapeutics (Nasdaq: SRNE) was again busy, agreeing to acquire fellow USA-based SCILEX Pharmaceuticals, through its subsidiary Scintilla Pharmaceuticals, and Semnur Pharmaceuticals, to significantly deepen its pain pipeline.
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