Sector News

Allergan has Asia in its crosshairs for small deals

June 30, 2016
Life sciences

Ireland-domiciled Allergan is looking hard at Asia for potential deals covering areas from intellectual property to outright M&A–which may include looking at the boom in “Sea Turtles” returning to China to start biotechs as well as India’s recent move to make direct investment in domestic companies easier.

Allergan CEO Brent Saunders provided some color in an interview on Bloomberg Television of the state of play for the cash-rich company that has drawn sharp interest after the collapse of an inversion merger with Pfizer earlier this year.

The company is now in the process of finalizing a $40 billion deal to sell parts of its generics business to Israel’s Teva Pharmaceutical Industries, giving it $20 billion to invest for growth and innovation, Saunders told Bloomberg​ in an interview held in Shanghai on Wednesday.

“Some portion of that is certainly open for investments in China and in Asia across the board,” Saunders told Bloomberg. “We just have to find the right assets that really complement our strategy of being a growth pharma leader and of course leading in our therapeutic areas like medical aesthetics, dermatology and eye care.”

Chinese firms in the intellectual property and R&D areas that would fit with the stated therapeutic aims might be harder to find, but small deals have recently caught attention, including Chinese biotech Essex Bio and synthetic biology specialist Abpro’s $3.5 million deal to develop cancer and eye drugs.

“We will be looking at buying intellectual property, R&D assets and of course M&A,” Saunders said. “With respect to M&A, we will be looking at more smaller-scale tuck-in deals that will support our therapeutic area leadership and innovation.”

Saunders suggested that wider opportunities are in the mix in Asia. For instance, India earlier this month increased the threshold to 74% from 49% before regulatory approval is needed to buy into a domestic drug company.

By EJ Lane

Source: Fierce Pharma

comments closed

Related News

December 10, 2023

Brain waves found in sleep shown to protect against epileptic activity

Life sciences

Researchers from University College London (UCL) have revealed that slow brain waves that occur during sleep could protect against increased brain excitability in patients living with epilepsy. In a study published in Nature Communications, researchers placed electrodes in 25 patients living with focal epilepsy to localise abnormal activity and inform surgical treatment.

December 10, 2023

Rousselot’s soft gel capsule stabilizing technology awarded USPTO patent

Life sciences

StabiCaps gelatin formulation enhances the release of active ingredients, including medications. In May 2022, the Darling Ingredients brand also received a patent from the European Patent Office for StabiCaps for all major European countries.

December 10, 2023

Roche to acquire obesity drug maker Carmot

Life sciences

In a move to participate in the race for anti-obesity drugs, Swiss pharma giant Roche has agreed to acquire Carmot Therapeutics, a privately owned US company based in Berkeley, California. Carmot’s R&D portfolio includes clinical stage subcutaneous and oral incretins with the potential to treat obesity in patients with and without diabetes, as well as a number of preclinical programs.

How can we help you?

We're easy to reach