Mike Huckman at Pharma's Market writes:
The average markup or premium paid in a biotech M&A deal worth at least $500 million in 2006 was 60%. 60%! That's one of the most startling numbers you'll find in Ernst & Young's 21st Annual "Global Biotechnology Report.
"The publication is consistently one of the most comprehensive assessments of the state of the industry. Among other notable bullet points from E & Y: worldwide biotech revenue surpassed $70 billion last year for the first time, a record $23 billion worth of alliances were struck in '06, 99% of U.S. biotech CEOs say they plan to do a deal within the next couple of years.
And the report points out that the bullish trends show no signs of letting up because "big pharma's voracious need to fill the pipeline in the shadow of blockbuster patent expirations -- has clearly shifted the balance of power at the negotiating table toward biotechnology companies."
No comments:
Post a Comment