美国仿制药行业的未来形态（二） - 更多并购？
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美国仿制药行业的未来形态（二） - 更多并购？
笔记 2015-07-30 识林 上期我们对Teva将在“未来一周内”达成购买Allergan公司仿制药业务的预测已被证明是大错特错了，交易在接下来的几个小时内就快速达成！但关于Teva将放弃收购Mylan公司的预测确实是正确的。由于Teva撤销收购，Mylan的股票受到市场重创，之前预期将被Teva收购时股票上涨了30%。现在需要Mylan自己来圆之前的说法，Teva的收购对于股东来说是一笔糟糕的交易。毫无疑问，Perrigo的压力大大增加，因为Perrigo之前曾希望Teva/Mylan的交易可以帮助他们逃过不想要的而且不被欢迎的Mylan的收购。 在Teva/Allergan宣布交易后的24小时内，路透社报道称约旦制药公司Hikma将以26.5亿美元的现金和股票收购Boehringer的美国仿制药股份（主要是Roxane）。Hikma注射抗生素（尤其是头孢菌素类）产品线进入美国市场已有数年时间，其美国仿制药市场占有率正逐步增长。Hikma声称该交易将使其在市场份额方面成为第6大美国仿制药公司。 因此，“收购之夏”将继续进行另外一起数十亿美元的交易。这些交易正在重塑美国仿制药业务的顶端格局。IMS尚未发布过2012以后的“按美国市场处方量排名的公司”名单，这个名单现在肯定已经过期了。不过我们可以猜测前六大公司应该是： 在这份名单中，Teva公司（包括Allergan的仿制药业务）可能会是Mylan公司的3倍，第一名和第二名之间横亘着一条巨大的鸿沟。 数月来有传闻称，辉瑞正在考虑其仿制药业务的未来。辉瑞可能将其仿制药业务挂牌出售，Mylan、Sandoz或Endo都可能成为买主，以力争赶上Teva的步伐。 那么谁会是下一个呢？ 作者：识林-Pepper More Consolidation in the US Generics Industry Well our prediction that Teva would make a deal to buy Allergan’s generic business “in the coming week” was off the mark. It happened in the coming hours! But the other prediction that Teva would drop its bid for Mylan did indeed come true. As a result of Teva dropping its bid, Mylan stock was mauled by the market which had marked it up 30% in anticipation of a Teva deal. It is up to Mylan now to justify its assertion that Teva was a bad deal for shareholders. No doubt the stress level at Perrigo rose substantially yesterday as it had hoped a Teva/Mylan deal would save it from an unwanted and unwelcome Mylan takeover. Within 24 hours of the Teva/Allergan announcement Reuters reports that Hikma, the Jordanian pharmaceutical company, will buy Boehringer's US generic interests (mainly Roxane) for about US$2.65 billion in cash and stock. Hikma has been gradually increasing US generic market share for several years after entering the US market with its line of injectable antibiotics (especially cephalosporins). Hikma claim this deal will make them the 6th largest US generic company by market share. So the “consolidation summer” continues with another multi-billion dollar deal. These deals are reshaping the top end of the US generic business. IMS has not published updates to the list of “top companies by prescriptions” since 2012 so it is well and truly out of date. However we can guess at what the top 6 might look like. In this list Teva (with Allergan's generic business) might be nearly three times bigger than Mylan which would be a huge gap between the 1st and 2nd company. It has been rumored for many months that Pfizer is considering the future of its generic business. Were Pfizer to put that business up for sale any of Mylan, Sandoz, or Endo might be likely buyers in an effort to keep pace with Teva. I wonder who will be next? 识林TMwww.shilinx.com版权所有，未经许可不得转载。如需使用请联系admin@shilinx.com |