Prospects for Pharma Mergers, Acquisitions and Alliances

2010-2020

Product Code VIS00214
Publication Date July 2010
Publisher Visiongain
Product Type Report
Pages 130
ISBN Number not applicable
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Prospects for Pharma Mergers, Acquisitions and Alliances

2010-2020

How will M&A affect the pharma industry this decade?

Last year was important for pharmaceutical mergers and acquisitions, with total deal values in 2009 reaching almost $150bn. Driving this activity were three 'mega-mergers' at the heart of the industry, as Pfizer took over Wyeth, Roche bought the remaining shares in Genentech, and Merck & Co acquired Schering-Plough. Those historic deals signal the continued importance of mergers and acquisitions (M&A) as a strategy among pharma companies, with associated benefits and challenges. The importance of consolidation and alliances will increase from 2010 onwards, as companies adapt to changing conditions within the industry and market. Companies will turn to M&A to consolidate their businesses and to diversify into other developmental areas, our new study discusses. How will recent M&A activity work out for the companies involved? Also, where will important M&A activities be most likely to occur during the remainder of this decade, and what will their prospects be? Our new report tackles questions such as those, providing analysis to aid your decision making and save you time.

Our report - Prospects for Pharma Mergers, Acquisitions and Alliances 2010-2020 - reviews the recent M&A history of the industry and determines which companies will be most likely to perform M&A, and which companies are most likely to be targeted. Our research shows that M&A activity will be important to the pharmaceutical industry from 2010 to 2020, with opportunities and challenges arising. Many companies will turn to mergers, acquisitions or alliances. But which deals will leave companies well placed to survive the patent cliff, consolidate operations and expand revenues? Our latest study tackles those questions.

Our study also reviews prominent companies operating in the pharma biotech sector, where big pharma companies will seek to expand their operations this decade. We assess R&D pipelines and existing products that have the potential to make a significant market impact. Our study covers the incentives to seek M&A deals and the difficulties that can arise from those transactions. In particular, our new report provides an overview of the options for companies seeking to increase R&D and commercial presence in the industry's growth areas.

Comprehensive analysis of M&A for the pharmaceutical sector

Prospects for Pharma Mergers, Acquisitions and Alliances 2010-2020 critically examines that aspect of the pharmaceutical industry through a review of primary and secondary information sources. Our study provides revenue forecasts, market share analyses, discussions of products and strategies, as well as analyses of commercial drivers and restraints. There are 70 tables and figures included, as well as an expert interview. The result is a comprehensive market- and industry-centred study, with analyses and opinion to benefit your work.

Why you should buy this report?

This report gives you the following benefits in particular:

  • You will find out the prospects for pharma M&A activity worldwide from 2010 to 2020, including predicted corporate strategies, likely acquisition targets and other information, quantitative and qualitative
  • You will find out where the pharma sector is heading commercially from the present onwards, with analysis of the different ways in which companies will adapt to the changing conditions in the market and industry
  • You will discover the prospects for leading companies and their corporate strategies from 2010 onwards
  • You will receive revenue forecasts and other predictions, with supporting arguments and other information
  • You will analyse important R&D activities and commercial prospects for leading products in the shifting pharma landscape, including revenue predictions
  • You will identify key industry trends and best practice, with many examples and other supporting information, including original views and predictions
  • You will discover the drivers, restraints, competition and opportunities influencing M&A activity in the pharma sector from 2010 onwards
  • You will receive expert views from our survey.

You can obtain this report today.

Our new study is essential reading for anybody interested in the global pharmaceutical industry and its corporate prospects from 2010 onwards. We predict that industry consolidation will become an increasingly attractive option, despite the costs and risks. R&D-based companies and the generics sector will be involved, with small-molecule and biologics producers standing to benefit, potentially, as well as some associated companies. Do you want to learn where, how and why? You can stay ahead by ordering our report today.

Contents

  • 1. Executive Summary
    • 1.1 M&A in the Pharmaceutical Industry: Market Review
    • 1.2 Areas Covered in this Report
    • 1.3 Research & Analysis Methods
  • 2. Pharma M&A: Introduction
    • 2.1 Big M&A Deals are a Feature of the Pharma Industry
    • 2.2 A Brief History of Pharma Industry M&A
    • 2.3 'Big Pharma': A Product of M&A
    • 2.4 M&A Activity Reached New Heights in 2009
    • 2.5 M&A Activity in 2010 is Driven by the Threat to Pharma's 'Blockbuster Model'
    • 2.6 Is M&A the Answer?
    • 2.7 More Informal Alliances: The Long-Term Future for the Industry?
  • 3. Pharma M&A 2009-2010: Anatomy of the Biggest Deals
    • 3.1 Pfizer and Wyeth
      • 3.1.1 Pfizer Has Acquired Some of its Bestselling Drugs from Wyeth
      • 3.1.2 Pfizer's M&A Activity will Succeed in Buying Growth
    • 3.2 Roche and Genentech
      • 3.2.1 Genentech is Central to Roche's Commercial Development
    • 3.3 Merck & Co. and Schering-Plough
      • 3.3.1 The Augmented Merck Pipeline
      • 3.3.2 Merck's Commercial Future After Merger
    • 3.4 Merck KGaA and Millipore
      • 3.4.1 Merck KGaA, Serono and Millipore
      • 3.4.2 Merck KGaA's Commercial Prospects
    • 3.5 Abbott and Solvay
      • 3.5.1 Abbott and Piramal
      • 3.5.2 Abbott's Overall M&A Strategy
    • 3.6 Teva and Ratiopharm
      • 3.6.1 Teva Dominates M&A Activity in the Generic Market
      • 3.6.2 Daiichi Sankyo and Ranbaxy
      • 3.6.3 Other M&A in the Generics Sector
      • 3.6.4 Sanofi-Aventis' Penetration of the Generics Sector
    • 3.7 Astellas and OSI Pharmaceuticals
    • 3.8 GlaxoSmithKline and Stiefel Laboratories
      • 3.8.1 GSK's Broader Strategy
      • 3.8.2 What About Competitors?
    • 3.9 Grifols and Talecris
    • 3.10 Pharma M&A 2009-2010: Which of These Deals is Most Significant?
  • 4. Potential Candidates for Pharma M&A: 2010-2020
    • 4.1 More 'Mega-Mergers' by 2020?
    • 4.2 Bristol-Myers Squibb: Perennial M&A Target
    • 4.3 Overall Trends for M&A in the Forecast Period
    • 4.4 Biotechnology Companies and Pharma: a Symbiotic Relationship
    • 4.5 Future Biotechnology M&A
    • 4.6 The Biggest Potential Biotech M&A Deals
    • 4.7 Biogen Idec
      • 4.7.1 Biogen Idec: Portfolio and Pipeline
      • 4.7.2 Will Biogen Idec be Acquired?
    • 4.8 Genzyme
    • 4.9 Celgene
    • 4.10 Vertex Pharmaceuticals
      • 4.10.1 Vertex to be Acquired in 2010-11?
    • 4.11 Human Genome Sciences
    • 4.12 Crucell
    • 4.13 Intercell
    • 4.14 Seattle Genetics
    • 4.15 Alexion Pharmaceuticals
    • 4.16 Immunogen
    • 4.17 United Therapeutics
    • 4.18 Onyx Pharmaceuticals
    • 4.19 Auxilium Pharmaceuticals
    • 4.20 Allos Therapeutics
    • 4.21 Amylin Pharmaceuticals
    • 4.22 BioMarin Pharmaceutical
    • 4.23 Rigel Pharmaceuticals
    • 4.24 Emerging Markets: M&A Activity
    • 4.25 Dr. Reddy's Laboratories
    • 4.26 Cipla
    • 4.27 Other Areas for M&A
  • 5. M&A in the Pharma Industry 2010-2020: SWOT Analysis
    • 5.1 M&A Allows Companies to Become Stronger Through Consolidation and Diversification
    • 5.2 Bigger is Not Always Better: Company Size Can Be a Weakness
    • 5.3 The Opportunity for a New, Globalised Business Model
    • 5.4 Size Can Threaten Investor Confidence, Public Goodwill, Company Morale and Drug Development Prospects
  • 6. Expert Opinion
    • 6.1 Interview with Dr Cyrus Chowdhury, Vice President of Global Market Access, Insight Strategy Advisors, New York
      • 6.1.1 Why is M&A in the Emerging Geographical Markets Likely to be a Major Focus for the Pharmaceutical Industry over the Next Ten Years?
      • 6.1.2 Which Emerging Markets Have the Greatest Potential for M&A?
      • 6.1.3 Which Therapeutic Areas Have Most Potential in the Emerging Markets?
      • 6.1.4 Strategies of the Larger Companies
      • 6.1.5 What Sectors and Types of Companies Will Be Targeted for M&A Activities?
      • 6.1.6 Prospects from 2010 Onwards
      • 6.1.7 Difficulties Facing M&A Strategies in the Emerging Markets
  • 7. Conclusions
    • 7.1 M&A is One of the Pharma Industry's Best Hopes for Managing the Patent Cliff
    • 7.2 Will 'Mega-Mergers' Be Superseded by Strategies Based on Small- and Medium- Sized Acquisitions?
    • 7.3 Biotechnology and Emerging Markets will be Important Targets for M&A
    • 7.4 Concluding Remarks
  • List of Tables
    • Table 2.1 Top Ten M&A Deals in all Industries Worldwide, 2000-2009
    • Table 2.2 The Biggest Pharma M&A Deals of All Time ($bn)
    • Table 2.3 The Biggest Pharma M&A Deals ($bn), 2000-2009
    • Table 2.4 The 20 Biggest Pharma Companies Sales ($bn), Global Market Share (%), Historical M&A Activity, 2009
    • Table 2.5 M&A Activity: Number of Deals and Overall Deal Value ($bn), 2000-2009
    • Table 2.6 The Top 10 Drugs: Revenues ($bn) and Forecast Patent Expiry Date, 2009
    • Table 2.7 Some Pharma Industry Strategies for Minimising Revenue Loss, 2010
    • Table 2.8 The 15 Largest Pharma Partnership Deals ($bn), 2005-2009
    • Table 3.1 Pharma M&A deals over $0.5bn, 2009 and (up to Q2) 2010
    • Table 3.2 Pharma Industry Exposure to the Patent Cliff by 2012, Revenues ($bn), Proportion of Total Revenues ($bn)
    • Table 3.3 Pfizer's Top Products, 2009
    • Table 3.4 Pfizer Products Approaching Patent Expiry, 2010
    • Table 3.5 Pfizer's Pipeline, Phase III and Later, 2010
    • Table 3.6 Pfizer's Revenues ($bn), Growth (%), CAGR (%), 2005-2010
    • Table 3.7 Pfizer's Revenues ($bn), Growth (%), CAGR (%), 2010-2020
    • Table 3.8 Roche's Bestselling Products, Revenue ($bn), 2009
    • Table 3.9 Roche's Pipeline, Phase III and Later, 2010
    • Table 3.10 Roche's Revenues ($bn), Growth (%), CAGR (%), 2010-2020
    • Table 3.11 Merck & Co's Pipeline, Phase III and Beyond, 2010
    • Table 3.12 Merck & Co's Bestselling Products, Revenue ($bn), 2009
    • Table 3.13 Merck & Co's Products Approaching Patent Expiry, 2010
    • Table 3.14 Merck & Co's Revenues ($bn), Growth (%), CAGR (%), 2010-2020
    • Table 3.15 Merck KGaA's Pipeline, Phase III and Beyond, 2010
    • Table 3.16 Merck KGaA's Revenues ($bn), Growth (%), CAGR (%), 2010-2020
    • Table 3.17 Abbott's Pipeline, Phase III and Beyond, 2010
    • Table 3.18 Abbott's Revenues ($bn), Growth (%), CAGR (%), 2010-2020
    • Table 3.19 The Top 10 Generic Market M&A Deals 2000-2010 (up to Q2)
    • Table 3.20 The Top Generic Companies: Revenues ($bn), Annual Growth (%), 2009
    • Table 3.21 Teva's Revenues ($bn), Growth (%), CAGR (%), 2010-2020
    • Table 3.22 Important M&A and Alliance Activity in the Generics Sector, 2000-2010
    • Table 3.23 Japan-US M&A deals, 2009-2010 (up to Q2)
    • Table 3.24 Dermatology Products of GSK and Stiefel Laboratories, 2010
    • Table 4.1 Biotechnology M&A Activity: Number of Deals and Overall Deal Value ($bn), 2000-2009
    • Table 4.2 The Largest Biotech Companies by Revenues ($bn), 2009
    • Table 4.3 Biotech M&A Target Companies and Possible Acquirers, 2010
    • Table 4.4 Biogen Idec: Products and Pipeline, 2010
    • Table 4.5 Genzyme: Products and Pipeline, 2010
    • Table 4.6 Celgene: Products and Pipeline, 2010
    • Table 4.7 Vertex: Products and Pipeline, 2010
    • Table 4.8 Human Genome Sciences: Pipeline, 2010
    • Table 4.9 Crucell: Products and Pipeline, 2010
    • Table 4.10 Intercell: Products and Pipeline, 2010
    • Table 4.11 Seattle Genetics: Pipeline, 2010
    • Table 4.12 Alexion: Products, 2010
    • Table 4.13 Immunogen: Pipeline, 2010
    • Table 4.14 United Therapeutics: Products and Pipeline, 2010
    • Table 4.15 Onyx Pharmaceuticals: Products, 2010
    • Table 4.16 Auxilium Pharmaceuticals: Products, 2010
    • Table 4.17 Allos Therapeutics: Products, 2010
    • Table 4.18 Amylin Pharmaceuticals: Products and Pipeline, 2010
    • Table 4.19 BioMarin Pharmaceutical: Products and Pipeline, 2010
    • Table 4.20 Rigel Pharmaceuticals: Pipeline, 2010
    • Table 5.1 SWOT Analysis for Pharma Industry M&A, 2010-2020
  • List of Figures
    • Figure 2.1 Companies' Shares of the Global Pharma Market (%), 2009
    • Figure 2.2 Company Revenue Growth (%) for the Top 20 Pharma Companies, 2009
    • Figure 2.3 Number of M&A Deals, 2000-2009
    • Figure 2.4 Value of M&A Deals ($bn), 2000-2009
    • Figure 2.5 Number and Value of M&A Deals ($bn), 2000-2009
    • Figure 2.6 NCEs Receiving FDA Approval, 2002-2009
    • Figure 2.7 Revenue Lost to Patent Expiry 2009 ($m) and Predicted Revenue Loss After Patent Expiry ($m), 2010-2014
    • Figure 3.1 Pharma Industry Exposure to the Patent Cliff by 2012, Revenues ($bn)
    • Figure 3.2 Pfizer's Revenues ($bn), 2005-2010
    • Figure 3.3 Pfizer's Revenues ($bn), 2010-2020
    • Figure 3.4 Pfizer's Revenues ($bn), with and Without the Effects of the Wyeth Merger, 2010-2020
    • Figure 3.5 Roche's Revenues ($bn), 2010-2020
    • Figure 3.6 Merck & Co's Revenues ($bn), 2010-2020
    • Figure 3.7 Merck KGaA's Revenues ($bn), 2010-2020
    • Figure 3.8 Abbott's Revenues ($bn), 2010-2020
    • Figure 3.9 Teva's Revenues ($bn), 2010-2020
    • Figure 4.1 Number of Biotechnology M&A Deals Compared to Traditional Pharmaceutical M&A Deals, 2000-2009
  • Companies Listed
    • Abbott Knoll
    • Abbott Laboratories
    • Abgenix
    • Ablynx
    • Acceleron
    • Actavis
    • Actelion
    • Advanced Medical Optics
    • Agilent
    • AkaRx
    • Alcon
    • Alexion Pharmaceuticals
    • Allen & Hanburys
    • Allergan
    • Allos Therapeutics
    • Alza
    • Amersham
    • Amgen
    • Amylin Pharmaceuticals
    • Andrx Corporation
    • Archemix
    • Ariad Pharmaceuticals
    • Arrow Pharma
    • Aspen Pharmacare
    • Astellas Pharma
    • Astra
    • AstraZeneca
    • Aurobindo Pharma
    • Auxilium Pharmaceuticals
    • Aventis
    • Barr Pharmaceuticals
    • BASF
    • Baxter International
    • Bayer
    • Bayer HealthCare
    • Bayer Schering Pharma
    • Ben Venue Laboratories
    • Biogen
    • Biogen Idec
    • BioMarin Pharmaceutical
    • Biomira
    • Boehringer Ingelheim
    • Boston Scientific
    • Bristol-Myers Squibb (BMS)
    • Cardiome
    • Celera Genomics
    • Celgene
    • Celldex Therapeutics
    • Cellzome
    • Centocor
    • Cephalon
    • Charles River Laboratories
    • Chattem
    • ChemoCentryx
    • Chugai Pharmaceutical
    • Ciba-Geigy
    • Cipla
    • Claris Lifesciences
    • Consilient Health
    • Cordis
    • Cougar Biotech
    • Covidien
    • Crucell
    • CSL
    • CV Therapeutics
    • Daiichi Sankyo
    • Dainippon Sumitomo
    • Depomed
    • Diamyd
    • DM Pharma
    • Dow
    • Dr. Reddy's Laboratories
    • EBEWE Pharma
    • Eisai
    • Elan
    • Eli Lilly
    • Endo Pharmaceuticals
    • European Medicines Agency (EMA, EMEA)
    • ev3
    • Exelixis
    • Express Script
    • Facet Biotech
    • Fisher Scientific
    • Fisons
    • Food and Drugs Administration (FDA)
    • Forest
    • Fovea Pharmaceuticals
    • Galapagos NV
    • Genentech
    • General Electric
    • Genmab
    • Genzyme
    • Gilead Sciences
    • Glaxo
    • GlaxoSmithKline (GSK)
    • GlaxoWellcome
    • Gloucester Pharmaceuticals
    • Grifols
    • Hexal
    • Hisamitsu Pharma
    • Hoechst
    • Hospira
    • Human Genome Sciences
    • Hypermarcas
    • ID Biomedical Corporation
    • Idec Pharmaceuticals
    • IG Farbenindustrie
    • ImClone Systems
    • Immunex
    • Immunogen
    • Indevus Pharmaceuticals
    • Insight Strategy Advisors
    • Intercell
    • Interpharma Praha
    • Inventiv
    • Ipsen
    • Isis
    • IVAX
    • Johnson & Johnson
    • Knoll
    • Kos Pharmaceuticals
    • Laboratorios Kendrick
    • Ligand Pharmaceuticals
    • Lundbeck
    • Marion Merrell
    • Mayne Pharma
    • Medarex
    • MedImmune
    • Medivation
    • Medley Pharmaceuticals
    • Mepha
    • Merck & Co.
    • Merck KGaA
    • Merck Serono
    • Merial
    • MGI Pharma
    • Millennium Pharmaceuticals
    • Millipore
    • Monsanto
    • Mpex
    • Mylan
    • Neo Química Genéricos
    • Nichi-Iko Pharmaceutical
    • Nordisk Gentofte
    • Novartis
    • Noven Pharmaceuticals
    • Novexel
    • Novo Industri
    • Novo Nordisk
    • Onco Therapies
    • OncoMed
    • Onyx Pharmaceuticals
    • Oracle
    • Orexo
    • Organon
    • OSI Pharmaceuticals
    • Osiris Therapeutics
    • Otsuka
    • Ovation Pharma
    • Panacea Biotech
    • PBM Holdings
    • Perrigo Company
    • Pfizer
    • Pharmacia & Upjohn
    • Phase Forward
    • Pierre Fabre
    • Piramal Healthcare
    • Plexxikon
    • PLIVA
    • Procter & Gamble
    • Protalix Biotherapeutics
    • Ranbaxy Laboratories
    • ratiopharm
    • Regulus
    • Rhone-Poulenc
    • Rigel Pharmaceuticals
    • Roche
    • Rohm & Haas
    • Roussel Laboratories
    • Sandoz
    • Sanofi-Aventis
    • Sanofi-Synthelabo
    • Schering
    • Schering-Plough
    • Seattle Genetics
    • Sepracor
    • Serono
    • Shantha Biotechnics
    • Sicor Pharmaceuticals
    • Sigma
    • Sirna Therapeutics
    • SmithKline Beecham
    • Solvay Pharmaceuticals
    • SSP Co.
    • Stada Arzneimittel
    • Stiefel Laboratories
    • Strides Arcolab
    • Sucampo Pharmaceuticals
    • Synergen
    • Syntex
    • Takeda Pharmaceuticals
    • Talecris Biotherapeutics
    • Targacept
    • Teva Pharmaceutical Industries
    • Thermo Electric
    • Thermo Fisher Scientific
    • Thomas H Lee
    • Transgene
    • Transtech
    • UCB
    • UNICEF
    • United Therapeutics
    • Varian
    • Vertex Pharmaceuticals
    • Visiogen
    • Warner Chilcott
    • Warner-Lambert
    • Watson Pharmaceuticals
    • Wellcome
    • Wellpoint
    • Wockhardt
    • World Health Organization (WHO)
    • World Trade Organization (WTO)
    • WuXi PharmaTech
    • Wyeth
    • XOMA
    • Zepharma
    • Zeneca
    • Zentiva
    • Zydus Cadila