M&A Deal Summary

Royalty Pharma Acquires TYSABRI

On February 27, 2017, Royalty Pharma acquired life science company TYSABRI from Perrigo Company for 2.9B USD

Acquisition Highlights
  • This is Royalty Pharma’s 1st transaction in the Life Science sector.
  • This is Royalty Pharma’s largest (disclosed) transaction.
  • This is Royalty Pharma’s 1st transaction in the United States.

M&A Deal Summary

Date 2017-02-27
Target TYSABRI
Sector Life Science
Buyer(s) Royalty Pharma
Sellers(s) Perrigo Company
Deal Type Divestiture
Deal Value 2.9B USD

Target

TYSABRI

United States
TYSABRI (natalizumab) is a prescription medicine used to treat adults with relapsing forms of multiple sclerosis (MS) to slow the worsening of symptoms common in people with MS and to decrease the number of flare-ups (relapses). TYSABRI increases the risk of progressive multifocal leukoencephalopathy (PML). When starting and continuing treatment with TYSABRI, it is important to discuss with your doctor whether the expected benefit of TYSABRI is enough to outweigh this risk.

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Buyer(S) 1

Buyer

Royalty Pharma

New York, New York, United States

Category Company
Founded 1996
Sector Business Services
Revenue 2.4B USD (2023)
DESCRIPTION

Royalty Pharma is a funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals, and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly - directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 45 commercial products, including AbbVie and J&J’s Imbruvica, Astellas and Pfizer’s Xtandi, Biogen’s Tysabri, Gilead’s HIV franchise, Merck’s Januvia, Novartis’ Promacta, and Vertex’s Kalydeco, Symdeko and Trikafta, and three development-stage product candidates. Royalty Pharma was formed in 1996 and is based in New York, New York.


DEAL STATS #
Overall 1 of 3
Sector (Life Science) 1 of 3
Type (Divestiture) 1 of 3
Country (United States) 1 of 3
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-01 Arteaus Therapeutics - Emgality Royalty

Cambridge, Massachusetts, United States

Arteaus Therapeutics LLC - Emgality Royalty is an at-home, once monthly self-injection for the preventative treatment of episodic and chronic migraine in adults.

Buy $260M

Seller(S) 1

SELLER

Perrigo Company

Dublin 2, Ireland

Category Company
Founded 1887
Sector Life Science
Employees9,140
Revenue 4.7B USD (2023)
DESCRIPTION
Entrance to a Perrigo facility in Duncan, South Carolina.
Entrance to a Perrigo facility in Duncan, South Carolina.

Perrigo Company is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API), as well as receives royalties from Multiple Sclerosis drug Tysabri®. The company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market and an industry leader in pharmaceutical technologies. Perrigo Company was founded in 1887 and is based in Dublin, Ireland.


DEAL STATS #
Overall 3 of 9
Sector (Life Science) 2 of 7
Type (Divestiture) 3 of 9
Country (United States) 1 of 2
Year (2017) 2 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-04 Perrigo Company - Two ANDA Pharmaceutical Products

Ireland

errigo Company PLC - Two ANDA Pharmaceutical Products includes full-ownership rights to acetaminophen injection ("acetaminophen") and testosterone undecanoate injection ("testosterone"). Acetaminophen is indicated for the management of mild to moderate pain and reduction of fever in the clinical setting. Testosterone is indicated for testosterone replacement therapy in adult males.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-11 Wavelength Pharmaceuticals

Petah Tikva, Israel

Wavelength Pharmaceuticals is a developer and manufacturer of generic APIs and finished dose forms (“FDF”) with operations primarily located in Israel and supporting functions in the U.S. and India. The Business has a global customer base and a broad array of products that leverage its specialized manufacturing capabilities and core competency in complex chemistries. Wavelength Pharmaceuticals is based in Petah Tikva, Israel.

Sell -