This morning biopharma P & A reached critical mass. In a rare, holiday-week confluence, four major pharmaceutical companies announced partnership deals and one announced a nearly $2-billion acquisition. All of the partnerships are on drugs that are still in the testing stage. If they were to all come to fruition, which in the risky business of drug development is highly unlikely, the new partnerships could collectively be worth billions of dollars over time.
In case you didn’t see the headlines, here’s a quick rundown of the Monday morning madness: Sanofi-Aventis is buying drugstore products company Chattem for $1.9 billion. Generic drug giant Teva is partnering with OncoGenex on an experimental prostate cancer drug. GlaxoSmithKline is hooking up with Seattle Genetics. Eli Lilly is gaining Incyte pipeline products and Pfizer’s doing a stem cell deal with microcap Athersys.