In the October 2006
issue:
Focus on Family Pharma
During one week in September, three European family-controlled drug
companies sold in a single week. Read inside to see what general trends and
specific factors spurred M&A activity worth $24.6 billion.
...
Third Quarter M&A Results
237 Deals Announced Worth $74.4 Billion
The third quarter of 2006 saw a total of 237 mergers and acquisitions
announced in the health care industry. Based on revealed prices, a total of
$74.4 billion was spent to finance the quarter’s M&A activity.
...
Interview with Eisai, Inc.
...
In The Departments
Services
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Health Care Services
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Deal Summaries
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Additional Transactions
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Transaction Updates
Technology
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Health Care Technology
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Deal Summaries
Additional Transactions
-
Transaction Updates
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Articles Archive
Companies Mentioned in this issue:
October 2006
A
ABN Amro Holding NV p4
Actavis p16
Alnylam Pharmaceuticals p11
Alphatec Spine p12
Altana AG p10
Altana Chemie AG p10
Altana Pharma AG p10
AmerisourceBergen p8
Amgen p11
AnorMED p12
Apax Partners Worldwide LLP p4
AstraZeneca p10
Atugen AG p11
Avidia p11
B
Barr Laboratories p16
Bayer AG p9
Better Living Now p9
BioLok International p12
Blackstone Group p10
Blue Care Network of Michigan p8
Blue Cross Blue Shield of Michigan p7
BMW p10
Boehringer Ingleheim p9
Braveheart Investment Group p10
Bristol-Myers Squibb p11
C
Capio AB p4
Capital Research and Management p10
Capitalink, LC p12
CareFirst p8
Catholic Health East p3
CB Richard Ellis p7
Cell Therapeutics p11
Celltech p10
Citigroup Corporate and Investment Banking p11
Crdentia Corp. p9
CSFB Private Equity p10
Cytyc Corp. p12
D
Danaher Corp. p12
Deloitte & Touche LLP p7
Deutsche Bank AG p4
Deutsche Klinik p4
E
Eisai Co. Ltd. p15
Elmcroft p7
Emdeon Business Services p11
Emdeon Corp. p11
Emdeon Practice Services p11
Enterix p4
F
First Albany Capital p12
Five Star Quality Care p7
G
Galloway Pharmacy p9
General Atlantic, LLC p11
GlaxoSmithKline p9
Goldman Sachs p9
Gulf Coast Hospital p2
H
H.J. Thomas Memorial Hospital Association p3
HCA p2
Health Advocates p8
Health Care Group p7
Health Care REIT p4
HealthpointCapital Partners p12
HealthSouth p8
HealthTran, LLC p9
Highland Financial Corp. p2
Holiday Retirement Corp. p7
Hospira p12
I
Ideal Medical Products p12
iVOW p9
K
Kindred Healthcare p3
King Pharmaceuticals p15
L
Lee Memorial Health System p2
LifePoint Hospitals p3
Ligand Pharmaceuticals p15
M
M-CARE p8
Mannheimer Swartling p4
Mayne Group p12
Mayne Pharma p12
Medegen Medical Products p12
Medical Action Industries p12
Merck KGaA p1
Mercy Hospital p3
Mercy Jeannette Hospital p3
Michigan Health Insurance Corp. p8
Millennium Pharmaceuticals p12
Morgan Stanley p4
N
NationsHealth p9
NIB Capital Private Equity p10
Nordic Capital p10
Nordic Capital Fund VI p4
Novartis p9
Nycomed Pharma Holding AS p10
O
Omnicare p9
Opica AB p4
Outlook Pointe p7
P
Pfizer p10
Pittsburgh Mercy Health System p3
Pliva d.d. p16
PMSI MSA Services p8
Primedex Health Systems p4
Q
Quality Care Solutions p11
Quark Biotech p11
Quest Diagnostics p4
Quovadx p12
R
Radiologix p4
Rotech Healthcare p2
Rothschild p10
S
Sage Group plc p11
Saint Francis Hospital p3
San Francisco Advanced Imaging Center p4
Schering AG p9
Schering-Plough Corp. p16
Schroders Investment Management Ltd. p10
Schwarz Pharma AG p10
Scient'X p12
Senior Care, Inc. p7
Senior Care Real Estate Investment Trust p7
Senior Housing Properties Trust p7
Serono, SA p1
Shadyside Hospital p3
Signature Hospital Corporation p4
Southwest Florida Regional Medical Center p2
SR Pharma plc p11
St. Francis Medical Center p3
Standard Management p9
Sunrise Senior Living p7
Sunrise Senior Living REIT p7
T
Tonkin Group p4
TriZetto Group p11
U
UCB, SA p10
United Rehab p7
University of Michigan Health System p8
UPMC p3
V
Ventana Medical Systems p12
Ventas p7
Vision Systems Ltd. p12
W
West Penn Allegheny Health System p3
Windrose Medical Properties Trust p4 |
Irving Levin Associates, Inc. Speaks with
Eisai, Inc.
Email Editor
Eisai Co. Ltd. (T:
4523), through its American subsidiary, is acquiring four oncology-related
products from Ligand for $205.0 million, or 3.87x revenue. The
products include ONTAK, Targretin capsules,
Targretin gel 1% and Panretin gel 1%. Eisai’s goals in
strengthening its oncology franchise are noted in the interview below.
--excerpt from pg 15 of October issue
We at Irving Levin got the
chance to discuss Eisai Co. Ltd.’s recent acquisition of four oncology
products from Ligand Pharmaceuticals with Cathy Pollini of Eisai,
Inc.
IL
Congratulations on the deal, and thanks for agreeing to answer some of
our questions. How does the acquisition of the four oncology-related
products fit into Eisai’s overall drug portfolio?
CP
Oncology is one of Eisai’s long-standing therapeutic areas of focus, and
we have several global drugs in development for the treatment of patients
with cancer, including compounds for breast cancer, soft-tissue sarcoma,
prostate cancer and ovarian cancer, among others. The acquisition of four
oncology-related products from Ligand, pending government approvals, as
well as the valuable expertise and experience of those Ligand personnel to
whom Eisai will offer employment, will serve to help establish Eisai’s
global oncology business. In addition, it will enable Eisai to enter the
oncology market, gain experienced talent and infrastructure, and enhance
expertise in advance of building a product portfolio to include other
potential acquired assets as well as our pipeline products.
IL
Do you believe that you have the marketing channels that would allow
you to increase the revenue produced from the sale of these four products?
CP
We are confident that Eisai will be able to successfully market the four
oncology-related products, pending government approvals. According to
Ligand, total annual revenue of the four products was $53 million last
year. We hope to sustain growth of all four products.
IL
What competition do you see for these four products, and what special
features does Eisai bring to the table to gain market share from that
competition?
CP
While we can’t speak for other companies, we can say that oncology is one
of Eisai’s long-standing therapeutic areas of focus. Increasing
therapeutic specialization of pharmaceutical companies–from R&D to
business development–is essential for success in an increasingly
challenging marketplace. Eisai has long employed this strategic approach,
and we focus our efforts on three therapeutic areas – neurology,
gastrointestinal disorders and oncology/critical care. We will continue
investing in these key therapeutic areas and, therefore, will continue to
grow our reputation as a leader and innovator in these categories.
IL
Do you contemplate further acquisitions of related products to develop
the oncology niche further? If so, what kinds of products would you be
looking at and in what time frame?
CP
Moving forward, we believe we will achieve greatest growth through a
combination of efforts–research and development, in-licensing/acquiring
promising new products in our therapeutic areas of focus, establishing
strategic alliances and producing specialty products that satisfy unmet
medical needs and contribute to the health and well-being of people
worldwide. We can achieve this goal independently or in collaboration with
other companies. One of the greatest opportunities for Eisai’s future lies
in our pipeline, which includes oncology compounds in clinical development
for breast cancer, soft-tissue sarcoma, prostate cancer and ovarian
cancer, among others. Approximately 15% of Eisai’s worldwide revenue is
spent on R&D.
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