This summer, large biotechnology deals took a vacation.
In the three-month period from July through September, just six acquisitions worth at least $50 million were announced, according to data compiled by BioPharma Dive. The tally is half of what was seen in the same period last year, and smaller than the 10 deals of that size unveiled between April and June.
Together, the half-dozen acquisitions in the third quarter carry a total consideration of more than $8.8 billion. Yet most of that sum comes from one deal: Biogen’s proposed purchase of Reata Pharmaceuticals. Biogen’s offer of $172.50 per share put a 59% premium on Reata, and valued the rare disease drugmaker at approximately $7.3 billion.
