Deals in Depth: April 2011
Executive Summary
Meda paid $420 million in cash for exclusive worldwide rights to Novartis' dermatitis cream Elidel. J&J's acquisition of orthopedic device company Synthes topped the acquisition list at $21.7 billion. The $1.6 billion in biopharma financing was outshone by Royalty Pharma's $487 million purchase of Cubicin and Lexiscan royalties. Similarly the one outlier device transaction - DJO's $300 million notes offering - represented 64% of the $471 million in device fundraising.