2015 was a record year for biopharma M&A with a worldwide transaction volume of 430 Bio. USD, including asset deals and announced transactions. The deal volume of completed US transactions almost reached 200 Bio. USD, up from 90 Bio. USD in 2014. The deal volume in Europe dropped to 20 Bio. USD , from 50 Bio. USD in 2014. A record number of 21 US/European companies were sold for 1 Bio. USD or more, up from 14 such transactions in 2014 and 4 in 2013.
The largest completed transactions in 2015 (target/buyer) were: 70,5 Bio. USD Allergan (US)/Actavis (renamed to Allergan), 21 Bio. USD Pharmacyclics (US)/Abbvie and 17 Bio. USD Hospira (US)/Pfizer. The largest announced and not not completed deals were 160 Bio. USD takeover of Allergan by Pfizer, 40,5 Bio. USD sale of Allergan’s generics business to Teva and the acquisition of Dyax (US) for 5,9 Bio. USD by Shire (UK).
Trade sales of both private-equity and venture-backed companies reached record deal values. In terms of exit multiples and absolute gains from biopharma trade sales, 2015 was probably the best ever „exit year“ for venture investors on both sides of the Atlantic. Trade sales of oncology companies in 2015 generated over 40% of transaction volume and superior investor returns.
The HBM Pharma/Biotech M&A Report covers all completed trade sales of US and European biotechnology and pharma companies with a therapeutic focus (Rx incl. generics as well as OTC). For 2014 and 2015, additional data for asset deals, announced deals and transactions outside of US and Europe is provided.