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BioCentury, the Bernstein Report on BioBusiness
As published for the week of Monday, July 21, 2014

  • Cover Story: Strategy: AbbVie's plan B

    What AbbVie really needs from Shire besides inversion benefits

    By Erin McCallister, Senior Editor

    Clinical setbacks and a rapidly evolving HCV landscape have left AbbVie Inc. less insulated from potential biosimilar competition for blockbuster Humira adalimumab. Now that Shire plc has decided to accept AbbVie's takeout bid, the specialty pharma's rare disease portfolio and pipeline, along with its ADHD franchise, could help fill a potential revenue gap.

    AbbVie's fifth offer since May, when the pharma started to privately court the Irish company, values Shire at £31.4 billion ($54.5 billion) and is a 35% premium to the biotech's first bid of £23.6 billion ($39.9 billion). The deal is 46% cash and 54% stock.

    Full Article

Money Raised in 2014

Last week, the biotech industry raised $368 million, bringing to $33.1 billion the total raised year-to-date. In 2013, a total of $37 billion was raised, including $14.4 billion in debt, $10 billion in follow-ons, $2.8 billion in PIPEs and other equity, $3.9 billion in IPOs, and $5.9 billion in venture capital. Totals include overallotments and warrants, and are rounded to the nearest millions.

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