Consolidation in the U.S. healthcare industry, which has already witnessed a string of multi-billion dollar deals, is expected to remain a major ...
REUTERS: Consolidation in the U.S. healthcare industry, which has already witnessed a string of multi-billion dollar deals, is expected to remain a major theme for the rest of 2019.
** Recent deal was the US$877 million buyout of gene therapy developer Nightstar Therapeutics, and as of June 30 the company still had cash reserves of almost US$2 billion.** Lilly spun off its animal health unit earlier this year, and has reiterated its commitment to making bolt-on acquisitions to diversify its portfolio, as its long-term top-sellers Humalog and Cialis face intensifying competition.
** Analysts say that may still leave room for smaller deals like its US$10.6 billion buy of Array Biopharma, which boosted its arsenal of oncology drugs and set the stage for the company to become a leader in colon cancer treatments.** A recent U.S. court ruling win on Amgen patents for rheumatoid arthritis drug Enbrel is seen as having left the company free to pursue business development plans, including M&A.
** Amgen had US$5.53 billion in cash and cash equivalents as of June 30. Shares of the company are up nearly 5per cent this year.** Investors have raised concerns about Merck's increasing dependence on blockbuster cancer drug Keytruda, highlighting the need for the drugmaker to engage in M&A.
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