Could $639m Vitae Buy Give Allergan A New Autoimmune Focus?
Allergan’s $639m purchase of Vitae Pharmaceuticals gives the company an oral drug for a key dermatology indication and the potential to address other autoimmune disorders consistent with its focus on seven key therapeutic areas.
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Financials are holding up well despite generics launching against multiple Allergan products, but with stock price falling the company is conducting a strategic review to make sure it isn't missing out on any alternative business strategies that could boost the enterprise's value.
In Q3, biopharma financing totaled $7.4 billion, a large proportion of which was by rare disease developers; among the highlights in the $23 billion in M&As was Allergan's buying spree, including two NASH companies. Just over $20 billion went into biopharma alliance dealmaking, and neurology assets attracted many of the dollars.
Nothing deters investors more than missed quarterly financial expectations, pipeline attrition and formulary restrictions. Allergan, Pfizer and Shire contributed all three to the sector's investment proposition last week.