The Harvard Law School Forum

JUNE 16, 2023

In recent months, the life sciences industry has seen the reemergence of contingent value rights, or CVRs, in public company acquisitions as a way to bridge a valuation gap between buyers and sellers. Executive Summary This study addresses CVRs, the public M&A analog to the earnout used in private deals, which can be price-driven (e.g.,

M&A 40

M&A Pharmaceutical Acquisitions Valuation 40

Peak Frameworks

SEPTEMBER 18, 2023

Consider a pharmaceutical giant like Pfizer , which imports raw materials for its drugs. The Importance of FOB for Financial Professionals Valuation Considerations FOB can directly impact the valuation of goods. A misinterpretation could mean missing out on millions.

Private Equity 52

Private Equity Negotiation Valuation Transportation 52

InvestmentBank.com

SEPTEMBER 18, 2019

Now Amazon truly does have more than a foot in the door to the pharmaceutical market. It is logical to think that Walmart will start making DTC pharmaceuticals a part of its push away from shopping in brick and mortar to have pick-up stations and home delivery. What was the premium above the 2016 valuation? EBITDA multiple.

Food 52

Food Valuation Acquisitions M&A 52

Cooley M&A

JANUARY 22, 2020

A wave of big-ticket transactions by global pharmaceutical companies drove life sciences M&A activity to its fourth-largest year on record in 2019, with aggregate deal value in the pharmaceutical, medical and biotech industry reaching $234.2 2019 was a banner year for billion-dollar life sciences M&A transactions.

M&A 40

M&A Pharmaceutical Acquisitions Capital 40

How2Exit

MARCH 31, 2024

This episode serves as a deep dive into Patrick's journey from a young accounting graduate to a M&A powerhouse, navigating transactions in industries as varied as HVAC and pharmaceuticals. rn Key Takeaways: rn rn rn Business valuation is often industry-specific, and the market sets the price based on comparable sales in the recent past.

Business 130

Business Mergers and Acquisitions Securities M&A 130

Cooley M&A

JANUARY 23, 2024

While the year saw an overall decline in M&A activity (down 17% from 2022) , total pharmaceuticals and life sciences deal value in 2023 increased by approximately 50% compared to 2022. Why did life sciences outperform the market? The last quarter of the year ended with a surge of deal activity.

M&A 52

M&A Mergers and Acquisitions Pharmaceutical Acquisitions 52

Peak Frameworks

SEPTEMBER 19, 2023

company to hit a $1 trillion valuation , it directly benefited shareholders. This deep involvement requires them to understand: Shareholder Interests: To gauge the return on investment and determine the valuation of potential deals. Shareholders: are primarily concerned about financial returns.

Corporation 52

Corporation Private Equity Mergers and Acquisitions Corporate Finance 52

Cooley M&A

JANUARY 25, 2023

Amid depressed valuations, biotechnology companies also saw an increasing number of demands from activist investors that in certain cases led to more deal activity. For example, the sale of Horizon Therapeutics to Amgen for approximately $28 billion was the third-largest all-cash transaction in the pharmaceutical sector in history.

M&A 40

M&A Mergers and Acquisitions Pharmaceutical Collaboration 40

Mergers and Inquisitions

NOVEMBER 1, 2023

Mispriced Companies and Assets – Some mature healthcare firms trade at low valuation multiples , often because the market misunderstands their contracts, revenue, or track record. Areas like healthcare services and medical devices are fairly generalist and follow standard accounting and valuation. For example, in the U.S.,

Private Equity 59

Private Equity Healthcare Equities Middle Market 59

Cooley M&A

OCTOBER 29, 2018

In April 2017, Fresenius agreed to acquire Akorn, a US-based, Nasdaq-listed specialty manufacturer and marketer of generic prescription and over-the-counter pharmaceutical products, for $35 per share or approximately $4.75 The Merger Agreement.

Mergers and Acquisitions 52

Mergers and Acquisitions Mergers Business Pharmaceutical 52

Solganick & Co.

SEPTEMBER 2, 2024

June 2024: Software PE firm Vista Equity Partners acquired Model N , a leader in revenue optimization and compliance software and solutions for pharmaceutical, medtech, and high-tech innovators, for $30.00 per share in cash in a transaction that values the Company at approximately $1.25

Mergers and Acquisitions 52

Mergers and Acquisitions Acquisitions Mergers M&A 52

Devensoft

MAY 25, 2023

For instance, a pharmaceutical company may acquire a smaller biotech firm to gain access to its research and development pipeline.  For example, a tech company may merge with a marketing firm to leverage the latter’s customer data and advertising capabilities.

Corporation 52

Corporation Mergers Mergers and Acquisitions Acquisitions 52

Cooley M&A

JULY 10, 2017

However, where there are too many unaccredited investors, parties may be unwilling or unable to pay the present cash value of the future earn-outs to the unaccredited investors (which would require a valuation of the future earn-outs). acquisitions of pharmaceutical products with clinical, regulatory and/or net sales milestones).

Securities 52

Securities IT Investors M&A 52

Growth Business

MAY 31, 2023

Members look to invest in companies with a pre-money valuation of £1m and £5m looking to raise between £250,000 and £5m. Although the network is open to members of any gender, the requirements are that a female has at least 20 per cent of founder equity. Successful founders typically attract £70,000 to £350,000.

Investment 96

Investment Investors Funds Healthcare 96

Cooley M&A

FEBRUARY 8, 2018

Second, the FTC continues to aggressively target pharmaceutical companies in connection with mergers and acquisitions. The outcome of the AT&T/Time Warner merger challenge, now set for trial starting March 19, may therefore significantly impact vertical merger antitrust law. Use of Earn-Outs in Life Sciences Deals.

M&A 52

M&A Mergers and Acquisitions Mergers Negotiation 52

Cooley M&A

JANUARY 30, 2024

These dynamics help explain why, despite significant sector-wide declines in public tech and life sciences company valuations from 2021 peaks, we have yet to mark a dramatic increase in activism campaigns relative to historical levels: for many would-be targets, there was no clear “fix” available.

Private Equity 52

Private Equity M&A Capital Investors 52

Software Equity Group

AUGUST 20, 2024

Vitec Software Vitec Software is a diversified software company that serves multiple industries, including the pharmaceutical, automotive, financial services, healthcare, real estate, and education sectors. The public company was founded in 1985 and is domiciled in Sweden.

Investment 52

Investment Management Acquisitions Business 52

Software Equity Group

JANUARY 22, 2024

Urgency Drives Healthy M&A Valuations Beyond the standard financial metrics that typically create valuations in any industry, the healthcare sector has several distinctive elements that significantly contribute to its valuation dynamics. Click here to fill out our assessment form.

Healthcare 52

Healthcare M&A Valuation Medical 52

Software Equity Group

JANUARY 22, 2024

Urgency Drives Healthy M&A Valuations Beyond the standard financial metrics that typically create valuations in any industry, the healthcare sector has several distinctive elements that significantly contribute to its valuation dynamics. Click here to fill out our assessment form.

Healthcare 52

Healthcare M&A Valuation Medical 52

M&A Leadership Council

JUNE 12, 2023

Second, impact to deal valuation or terms. Concerning valuation or deal terms, the earlier you detect a breach or a strong possibility of a breach, the better so you can help corporate development decide how best to address the issues. MH: We often talk about due diligence findings in three successive phases.

IT 52

IT M&A Insurance Corporation 52

M&A Leadership Council

SEPTEMBER 9, 2021

Second, impact to deal valuation or terms. Concerning valuation or deal terms, the earlier you detect a breach or a strong possibility of a breach, the better so you can help corporate development decide how best to address the issues. MH: We often talk about due diligence findings in three successive phases.

IT 52

IT M&A Insurance Corporation 52

Cooley M&A

JANUARY 22, 2021

The second half of the year witnessed a rebound spurred by several multibillion-dollar deals, including Gilead’s acquisition of Immunomedics for nearly $21 billion and AstraZeneca’s proposed acquisition of Alexion Pharmaceuticals for $39 billion. While deal value was down for the year, deal volume was relatively stable (down only 2.0%

M&A 40

M&A Mergers and Acquisitions Collaboration Mergers 40

Cooley M&A

JANUARY 20, 2022

1] Major all-cash acquisitions have followed, such as Arena Pharmaceutical’s agreement to sell to Pfizer for $6.7 Midsize pharmaceutical buyers pursuing opportunistic acquisition strategies, with robust capital markets and high valuations having limited the pool of attractive assets available in recent years.

M&A 40

M&A Mergers and Acquisitions Pharmaceutical Mergers 40

Cooley M&A

FEBRUARY 15, 2017

After some highly anticipated IPOs in the first half of 2017, we expect the reopening of capital markets in the latter half of the year to provide more stabilized valuations for companies, which should lead to more normalcy in M&A and strategic combinations.

M&A 40

M&A IPO Pharmaceutical Valuation 40

Focus Investment Banking

MAY 14, 2025

Most recently, pharmaceutical company Johnson & Johnson announced a $55 billion investment in US manufacturing, as well as Hyundai Motors who announced a commitment of $21 billion in domestic manufacturing from 2025 to 2028. The uncertainty of tariffs in President Trumps second term, however, is likely temporary.

Manufacturing 52

Manufacturing M&A Middle Market Trading 52

InvestmentBank.com

MAY 18, 2021

The healthcare industry is formed of numerous subsectors including pharmaceutical services, diagnostics, medical technologies, and managed healthcare. Payor services and pharmaceutical services have generated the most return throughout 2016 and in 1Q 2017. The pharmaceutical industry is valued highly given the performance of buyouts.

Healthcare 40

Healthcare M&A Valuation Hospitality 40

Focus Investment Banking

DECEMBER 20, 2024

While Retina groups were already receiving competitive valuations from private equity-backed companies like EyeSouth Partners and NVision Eye Centers, the RCA-Cencora transaction indicates there are long-term buyers outside of private equity for retina practices with the capital to acquire and operate them.

Private Equity 52

Private Equity Healthcare Equities Sale 52

Focus Investment Banking

FEBRUARY 11, 2025

McKesson is primarily a distributor, meaning that it sells pharmaceuticals, medical supplies, and other medical devices and services to healthcare providers. Its likely many of those organizations will seek acquisition opportunities now rather than later to expand their operations before a sale and attain a higher exit valuation.

Private Equity 52

Private Equity Healthcare Equities Medical 52

Focus Investment Banking

FEBRUARY 17, 2025

Many of those organizations are nearing their own recapitalization events and will seek add-ons to increase their valuations. Infusion Pharmacy Pharmaceutical innovations have produced an increasing number of highly specialized drug products and treatment programs, which may be customized even to the patient level.

Private Equity 52

Private Equity Healthcare Equities Investors 52

Mergers and Inquisitions

MARCH 19, 2025

Matt Stoller has an excellent article summing up the companys problems , but the short version is that it came under severe margin pressure due to pharmaceutical pricing : Health insurance companies in the U.S. It reached a market cap of $100 billion in 2015 before declining to ~$8 billion in 2024.

Private Equity 59

Private Equity Retail Equities Mergers and Acquisitions 59