Pharmaceuticals started the week with a merger Monday splash, as three deals hit the tape: Mallinckrodt (MNK) agreed to buy Questcor Pharmaceuticals (QCOR) for about $5.6 billion in cash and stock; Sun Pharmaceutical said it will acquire Ranbaxy in a $3.2 billion deal; and Roche (RHHBY) acquired privately held IQuum for up to $450 million.
This year has been expected to be a big one for mergers and acquisitions in pharmaceuticals thanks to a number of big players having deep war chests and a need to rebuild patent pipelines after a string of industrywide expirations on blockbuster drugs.
Monday sure didn’t do anything to disappoint those expectations for pharmaceuticals, adding upwards of $10 billion to the sector’s M&A tally.
Roche contributed by far the least to total deal value, while anyone holding QCOR stock should be smiling.
Here’s a quick look at the latest wheeling and dealing among pharmaceuticals: