Shots:
Avanos Medical has entered into a definitive agreement to be acquired by affiliates of American Industrial Partners in an all-cash transaction valued at ~$1.272B enterprise value
As per the deal, Avanos Medical shareholders will receive $25/share in cash, reflecting a ~72.1% premium to the Company's closing stock price on Apr 13, 2026; closing is…
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BioLab balances innovation with real-world impact through a dual strategy that combines rapid commercialization of FDA-approved or near-market solutions like Imbed with continued investment in long-term innovations such as cureVision and terraplasma, ensuring both immediate clinical needs and future breakthroughs in wound care are effectively addressed.
BioLab’s growth is driven by sharp strategic discipline, focusing on chronic outpatient…
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Garda Therapeutics has entered into a definitive agreement to acquire Assertio, delisting it from Nasdaq
As per the deal, Garda will acquire Assertio for $18/share in cash (~$125.1M) plus a non-tradeable CVR related to potential future milestones for Sprix, with the deal expected to close in Q2’26 & remaining shares acquired later via a…
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Gilead has entered into a definitive agreement to acquire Tubulis, making it an ADC research organization within Gilead, with the Munich site serving as a hub for ADC innovation
As per the deal, Gilead will acquire Tubulis for $3.15B upfront & ~$1.85B in contingent milestone payments; closing is expected in Q2’26
Acquisition will expand…
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Neurocrine Biosciences has entered into a definitive agreement to acquire Soleno, expanding its endocrinology & rare disease portfolio
As per the deal, Neurocrine will acquire Soleno for $53/share in cash, representing a total transaction equity value of $2.9B
Acquisition will add Vykat XR (diazoxide choline) to Neurocrine's portfolio for the treatment of hyperphagia with Prader-Willi…
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Biogen to acquire Apellis, incl. its assets Empaveli, Syfovre & felzartamab, for $41/share plus a non-transferable CVR, representing an upfront equity consideration of ~$5.6B, with remaining shares acquired later via a second-step merger
CVR holders will receive $2/CVR if Syfovre achieves $1.5B sales (2027-2030), an additional $2 if it reaches $2B in the same…
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Eli Lilly has entered into a definitive agreement to acquire Centessa Pharmaceuticals incl. its asset cleminorexton & ORX142, expanding Lilly's neuroscience portfolio & capabilities into sleep medicine
As per the deal, Lilly will acquire all issued & to-be-issued share capital of Centessa (incl. ADSs) for $38/share in cash (~$6.3B upfront), plus a non-transferable CVR of…
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Recordati has received a non-binding indication of interest from CVC Capital Partners for a voluntary tender offer to acquire all outstanding shares & delist the company, subject to due diligence, financing, & partner identification
Recordati expanded into rare diseases with its 2021 acquisition of EUSA Pharma for ~$845M, strengthening its rare cancer portfolio
The…
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Otsuka, via its subsidiary Otsuka America, has entered into an agreement to fully acquire Transcend, with an aim to expand its portfolio in psychiatric & neurological indications
As per the deal, Otsuka will acquire Transcend for $700M upfront, & ~$525M in sales milestones, representing the total deal value of ~$1.225B; closing is expected in…
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Novartis has entered into an agreement to acquire Excellergy, incl. its asset Exl-111, strengthening Novartis immunology strategy in food allergy & other IgE-driven diseases
As per the deal, Novartis will acquire Excellergy for ~$2B, incl. upfront & milestone payments, with closing expected in H2’26
EXL-111 is engineered to dissociate receptor-bound IgE, enabling faster &…

