Life Sciences & Healthcare  Newsletters

Kempen & Co European Life Sciences ECM update 

  • Monthly update on Equity Capital Markets of European Life Sciences companies.
  • Provides insights on market developments, financing transactions, share price developments and other relevant insights in the field of ECM.
  • Example analysis from the June 2020 ECM update below.

Outcome of European Listed Life Sciences Companies (2006-2017)

Outcome of European Listed Life Sciences Companies (2006-2017)

  • Of the 110 European Life Sciences companies listed on European exchanges over the period between 2006 and 2017, 79 are still active, 21 have been acquired, 8 have been reorganised or liquidated, and two have been the target of a reverse merger transaction.
  • France boasts the largest number of companies listed over this period at 30 with over 83% still active, 10% acquired, and 7% either reorganised/liquidated or as a reverse merger (1 each).
  • Of the countries in which 5 or more companies listed, Denmark has seen the highest proportion of companies being acquired at a rate of 50% over the period between 2006 and 2017.
  • Maybe unsurprisingly the largest number of companies listed by subsector come from Biotech with 56. However, of the subsectors with over 10 listings, Medtech has the highest proportion of acquisitions at over 26%, compared to just over 16% for Biotech.
     

Source: Dealogic, Kempen & Co analysis
Note: Includes all European companies listed on regulated exchanges, excluding those from Croatia and Romania

Kempen & Co European Life Sciences M&A update

  • Bi-monthly update on Mergers & Acquisitions of European Life Sciences companies.
  • Provides insights on the current M&A climate, recent developments, transactions and other relevant insights in the field of M&A.
  • Example analysis from the May 2020 M&A update below.

M&A paused amid COVID-19 pandemic

Total deal value versus number of pending deals

Total deal value versus number of pending deals

  
 
  • The number of pending transactions are at a record high compared to the same period during the last 4 years.
  • Early April UCB completed the acquisition of Ra Pharmaceuticals 175 days after announcement, and early March Asahi Kasei completed the acquisition of Veloxis 100 days after announcement.
  • Thermo Fisher announced the acquisition of Qiagen in March during the reality of COVID-19 and is expected to close in H1 2021. Meanwhile, COVID-19 has forced Pfizer and Mylan to postpone their megamerger to H2 2020 (from mid-2020).
     

Note: Includes transactions involving a European target, a European acquirer, or both; €25m minimum disclosed deal value; completion occurred after the announcement date; between 1 Jan 2016 and 30 April 2020.
Sources: Company's press releases, Bloomberg, Mergermarket, and Kempen & Co analysis.

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