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Innlegg av: Stock DZ (13.02.18 10:38 ), lest 561 ganger
Ticker: PCIB

Trends in pharmaceutical mergers and acquisitions

Found this interesting read:

in particular these two passages:

"Cancer was the therapeutic area with the greatest number of deals (15% of the total), reflecting the large current interest and focus in this area, most notably in immuno-oncology approaches. With recent breakthroughs, such as the approval of immune checkpoint inhibitors, demonstrating the power of harnessing the immune system to attack tumors, leading pharmaceutical companies are highly active in both M&A and other deals for immuno-oncology assets (March 2016 BioPharma DealmakersBioPharma Dealmakers, pB2). Other therapy areas with significant deal numbers included infectious diseases (9% of the total), central nervous system disorders (7%), endocrine and metabolic disorders (7%) and inflammation (6%) (Fig. 2)."

an also,

"There are multiple possible reasons for this trend. The most obvious is that the most promising late-stage candidates have increasingly already been acquired, forcing companies to look earlier in the pipeline. However, we believe that there are more deliberate reasons for this trend. Many of these deals are contingency deals, in which the seller accepts a lower upfront payment in return for larger payments upon completion of defined milestones and a greater percentage of the eventual profits. These deals help the buyer to mitigate the inherent risk in acquiring early-stage assets. Of the deals that disclosed information concerning the financial terms (Fig. 3), approximately 40% were done via contingency structures. We see contingency deals becoming increasingly common for early-stage assets, as well as more prevalent in other stages. Such deal structures can be particularly advantageous if there are differing views on sales projections."