Deals In Depth: December 2011
Executive Summary
Janssen paid $150 million for Pharmacyclics’ Phase II Btk inhibitor, 2011’s largest up-front for a single asset. Alexion acquired rare disease developer Enobia for just over $1 billion in up-front and earn-out payments. Biopharma fundraising dipped in December, while device financing increased for the second month in a row.