Abstract
Introduction:
Faced with weak pipelines, poor R&D productivity, expiring patents, and public and regulatory pressure over safety, major pharmaceutical companies are turning to the biotech industry for innovation. Much as in the late 1990s, Big Pharma is enthusiastically pursuing platform technologies and early-stage clinical candidates through a mix of strategic alliances, partnerships, and mergers and acquisitions
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- Big Pharma has expressed renewed interest in platform technologies and early-stage clinical candidates originating from biotechnology companies. What types of deals are occurring most frequently between these industries? What approaches to drug discovery are of most interest to pharmaceutical companies? What clinical trial phase is receiving the most attention from Big Pharma?
- In addition to the growing interest from pharmaceutical companies, many biotechs are also now participating in high-value partnerships with other biotechs to fund drug development. How do biotech-biotech deals differ from those involving Big Pharma? In what ways do biotech companies' long- and short-term goals correspond to or differ from those of pharmaceutical companies?
- Consolidation of the pharmaceutical and biotech industries has continued, with a recent surge in the number of mergers and acquisitions. What resources do pharmaceutical companies look for in companies when they consider acquisitions? What platforms or indications have been highlighted as areas of interest by Big Pharma? What does the emergence of reverse mergers say about the state of the market?
- As the biotechnology industry continues to mature, biotech companies will face more and more of the issues that typically plague Big Pharma. What are the key issues that biotech companies will face as they mature? How will these issues impact the risk and success of biotech drug development?
Scope
- Deal activity, by drug discovery stage: a review of deals for compounds in lead development; lead optimization; lead identifi cation; and target identifi cation and validation
- Mergers and acquisitions: a review of high-value ($100 million+) M&A deals involving biotech, including a look at reverse mergers
- Deal participants: an examination of pharma-biotech and biotech-biotech deal activity
- Market outlook: our forecast for trends in biotech dealmaking for 2007 and beyond
Table of Contents
- Executive Summary
- Strategic Considerations
- Stakeholder Implications
- Introduction
- Lead Development Deals
- Pharma-Biotech
- Biotech-Biotech
- Lead Optimization Deals
- Lead Identifi cation Deals
- Pharma-Biotech
- Biotech-Biotech
- Target Identifi cation and Validation Deals
- Mergers and Acquisitions
- Pharma-Biotech
- Biotech-Biotech
- Reverse Mergers
- Outlook: 2007 and Beyond
Tables:
- 1. Select Pharma-Biotech Lead Development Deals with Values More Than $200 Million
- 2. Select Biotech-Biotech Lead Development Deals with Values More than $100 Million
- 3. Select Lead Optimization Deals
- 4. Select Lead Identifi cation Deals
- 5. Select Target Identifi cation and Target Validation Deals
- 6. Select Mergers and Acquisitions
Figures:
- 1. All Life Science Mergers and Acquisitions
- 2. Number of Pharma-Biotech and Biotech-Biotech Mergers and Acquisitions Valued at More Than $100 Million, 2002-2006
- 3. Total Value of Pharma-Biotech and Biotech-Biotech Mergers and Acquisitions Valued at More Than $100 Million, 2002-2006
- 4. Cyclical Nature of the Value of Platform Technologies
