November round-up of pharma and biotech M&A activity

12 December 2017

Dealmakers did not have their busiest month in November, potentially due to companies waiting to see the shape of US President Donald Trump's proposed tax cuts.

Acquisitions and investments continued in Asia, but very little money changed hands in the European and North American markets, with privately-held US antibiotics developer Melinta Therapeutics one of few western companies to spend money.

Company	Takeover Candidate	Value	Why?
Former shareholders of Sprout Pharmaceuticals	Sprout Pharmaceuticals	Valeant Pharmaceuticals to be released from the ongoing obligations of the original transaction to split future profits with the former shareholders, as well as certain related provisions, including the obligations to make certain marketing and other expenditures	A divestment by Valeant to enable the company to further streamline its portfolio and reduce complexity in the business
Sapphire Holdings Limited	49% equity share in its joint venture, Hisun-Pfizer Pharmaceutical	Undisclosed	The transfer of Pfizer’s equity stake will allow both Hisun and Pfizer to focus on their core strengths, according to the US pharma giant
TWi Pharmaceuticals	Synpac-Kingdom Pharmaceutical	NT$1.8 billion ($59.8 million)	To obtain the capacity and capability for TWi’s ophthalmic ANDA filings and product commercialization in the US market
Chengdu Kanghong Pharmaceutical Group	IOPtima	Between $23 million and $27 million	To acquire a developer of minimally-invasive surgical ophthalmic devices specializing in glaucoma
Melinta Therapeutics	The infectious disease business of The Medicines Company	$270 million upfront and guaranteed payments ($215 million of cash and $55 million of Melinta common stock), tiered royalty payments and the assumption by Melinta of all royalty, milestone and other payment obligations relating to the acquired products	To increase Melinta's portfolio to four complementary marketed antibiotic assets

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