In the top M&A, Johnson & Johnson entered into a definitive agreement to acquire Shockwave Medical for $13.1bn in cash. Shockwave provides intravascular lithotripsy (IVL) technology for calcified coronary artery disease and peripheral artery disease. IVL is a minimally invasive, catheter-based treatment for calcified arterial lesions to restore blood flow. The acquisition further extends J&J MedTech’s position in cardiovascular intervention, following its buys of Abiomed (heart recovery) in 2022 and Laminar (eliminating the left atrial appendage in atrial fibrillation patients) last year. Financing reached $6.7bn in biopharma, $535.4m in device, and $317.7m in diagnostics.
Deals in Depth: April 2024
Seven $1bn+ alliances were penned in April. In the top alliance by deal value, Medincell entered a collaboration with AbbVie to co-develop and commercialize up to six therapeutic products across multiple therapeutic areas and indications. Medincell will receive a $35m upfront payment and is eligible to receive up to $1.9bn in development and commercial milestones, plus mid-single to low-double-digit royalties on net sales.
