Deals Of The Week: Sunovion/Elevation, Janssen/Genmab, Alnylam/Monsanto
With Roche’s Pascal Soriot set to become AstraZeneca’s CEO on Oct. 1, Soriot’s success in merging Genentech into Roche may open up AZ’s business development strategy to large-scale M&A.
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Janssen Biotech has signed its second deal in less than two months with antibody discovery company Genmab, this time licensing the Danish company's potential first-in-class multiple myeloma therapy daratumumab for $55 million upfront and an equity investment.
AstraZeneca has appointed an experienced biotech and pharmaceuticals executive, Pascal Soriot, to its vacant CEO position, while Roche switches Daniel O'Day from its diagnostics to its pharmaceuticals division.
A rough first quarter and news of the CEO’s decision to step down in slightly over a month leads to speculation that AstraZeneca could be an attractive M&A target for another pharma that might shut down the company’s struggling R&D effort and cash in on the existing portfolio.