FACTBOX-Drugmakers rush to sign deals on first day of industry conference

Reuters
01-14
FACTBOX-Drugmakers rush to sign deals on first day of industry conference

Jan 13 (Reuters) - Drugmakers signed deals worth at least $18 billion in combined value on Monday, the first day of the healthcare industry's top conference in San Francisco.

Dealmakers are anticipating a surge in megadeals worth over $10 billion, buoyed by hopes of a more lenient antitrust environment under the incoming Trump administration.

The following is a list of deals that took place on Monday ahead of the JPMorgan Healthcare Conference:

GSK-IDRx

British drugmaker GSK GSK.L said that it would pay up to $1.15 billion to buy Boston-based biopharmaceutical firm IDRx.

J&J-Intra-Cellular Therapies

Johnson & Johnson JNJ.N said it will buy Intra-Cellular Therapies ITCI.O for $14.6 billion, with plans to fund the deal through a combination of cash and debt.

Eli Lilly-Scorpion Therapeutics

Eli Lilly LLY.N plans to buy Scorpion Therapeutics' experimental cancer therapy for up to $2.5 billion in cash to expand its pipeline of cancer treatments.

AbbVie-Simcere Pharmaceutical

AbbVie ABBV.N has obtained the option to license a new blood cancer drug candidate from Simcere Pharmaceutical's 2096.HK unit for markets outside China, in a deal valued at up to $1.06 billion.

(Reporting by Kamal Choudhury and Puyaan Singh in Bengaluru; Editing by Shailesh Kuber)

((Kamal.Choudhury@thomsonreuters.com;))

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