Industry Update: Biotechnology
VRC is proud to release its latest industry report. The report provides a concise, insightful update on the Biotechnology industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
- On March 4, 2021, Gilead Sciences, Inc. announced the completion of the previously announced transaction to acquire MYR GmbH for up to approximately €1.45 billion in aggregate cash consideration. The acquisition
provides Gilead with Hepcludex®, which was conditionally approved by the European Medicines Agency for the treatment of chronic hepatitis delta virus (HDV) in adults with compensated liver disease in July 2020.
- On March 2, 2021, AbbVie agreed to sell off the biomanufacturing plant to China-based Pharmaron for $118.7 million in cash. The move comes shortly after Pharmaron bought out Absorption Systems in the U.S., paving the
way for a cell and gene therapy platform.
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