(Reuters) – Drugmakers signed deals worth at least $18 billion in combined value on Monday, the first day of the healthcare industry’s top conference in San Francisco. Dealmakers are anticipating a surge in megadeals worth over $10 billion, buoyed by hopes of a more lenient antitrust environment under the incoming Trump administration. The following is […]
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Factbox-Drugmakers rush to sign deals on first day of industry conference
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(Reuters) – Drugmakers signed deals worth at least $18 billion in combined value on Monday, the first day of the healthcare industry’s top conference in San Francisco.
Dealmakers are anticipating a surge in megadeals worth over $10 billion, buoyed by hopes of a more lenient antitrust environment under the incoming Trump administration.
The following is a list of deals that took place on Monday ahead of the JPMorgan Healthcare Conference:
GSK-IDRx
British drugmaker GSK said that it would pay up to $1.15 billion to buy Boston-based biopharmaceutical firm IDRx.
J&J-Intra-Cellular Therapies
Johnson & Johnson said it will buy Intra-Cellular Therapies for $14.6 billion, with plans to fund the deal through a combination of cash and debt.
Eli Lilly-Scorpion Therapeutics
Eli Lilly plans to buy Scorpion Therapeutics’ experimental cancer therapy for up to $2.5 billion in cash to expand its pipeline of cancer treatments.
AbbVie-Simcere Pharmaceutical
AbbVie has obtained the option to license a new blood cancer drug candidate from Simcere Pharmaceutical’s unit for markets outside China, in a deal valued at up to $1.06 billion.
(Reporting by Kamal Choudhury and Puyaan Singh in Bengaluru; Editing by Shailesh Kuber)