Since 2022, acquisitions between pharmaceutical companies have continued
.
But this year's more than $10 billion of mergers and acquisitions between pharmaceutical companies, except for Pfizer's $11.
6 billion acquisition of Biohaven in May this year, there is nothing else (note: excluding the device field).
As a result, the industry is paying close attention
to the recent acquisition of Horizon Therapeutics, which has a market capitalization of more than $20 billion.
It is understood that Horizon Therapeutics, an innovative pharmaceutical company for rare diseases, announced on November 30 that it was conducting preliminary negotiations
with Amgen, Johnson & Johnson (Janssen) and Sanofi on a potential acquisition offer.
According to the data, the acquisition of the rapidly expanding Horizon Therapeutics focuses on rare diseases, autoimmune and severe inflammatory diseases
.
The total market capitalization is currently about $17.
8 billion, and analysts expect the deal to be purchased for more than $20 billion
.
It currently has more than 10 products on sale, including Tepezza, a drug for thyroid eye disease (annual sales peak will exceed $4 billion); Krystexxa, a gout drug used to treat uncontrolled by other drugs (annual sales peak of more than $1.
5 billion).
The industry believes that the reason why Amgen firmly competes for Horizon is mainly because Amgen's bioproducts are facing the dual challenges of franchise expiration and biosimilars, and urgently need new products to drive performance growth
.
While Amgen won a patent dispute with Sandoz and Zydus over the blockbuster psoriasis treatment Otezla, extending the patent term until 2028; And through a series of "patent jungle" layouts, Enbrel will be extended from Enbrel, which first filed in 1995, to 2029
.
However, this kind of life cycle management relying only on existing products to improve investors' performance expectations is clearly not a long-term way to
develop.
Sanofi's favor on Horizon may be related to the company's focus on self-immunity and rare diseases
.
It is understood that Sanofi has always been a pioneer in the field of rare disease treatment, and its drug pipeline in the field of rare diseases has been very rich
.
At this year's Expo, it exhibited a number of rare disease drugs, showing its layout
in the field of rare diseases.
This includes the first globally approved nanobody drug, Cablivi, which is the first drug targeted for the treatment of acquired thrombotic thrombocytopenic purpura (aTTP
).
In addition, Sanofi also exhibited a new generation of enzyme replacement therapy (ERT) drug Nexviazyme for Pompe disease, which was awarded the title of "breakthrough therapy" by the FDA, which can significantly improve respiratory function and exercise capacity
in patients with Pompe disease.
Overall, Horizon's listed drugs Tepezza (teprotumumab-trbw) and Krystexxa are the main reasons
for multinational pharmaceutical companies to buy.
It is reported that Tepezza's net sales have jumped to $1.
472 billion from $1.
072 billion in the same period last year, while Krystexxa's net sales have increased 27%, from $395.
2 million to $500.
1 million
.
At present, many people in the industry believe that with these two core drugs, the acquisition of Horizon will benefit
every potential buyer.
However, it is worth noting that in this context, some pharmaceutical companies have chosen to withdraw from the competition
.
On December 3, Johnson & Johnson said it had strategically abandoned its acquisition of Horizon
.
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