M&A at Hogan Lovells

Life Sciences
and Health Care

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Over the course of 2019, the life sciences and health care sector experienced continuing consolidation, with industry heavyweights pursuing mega deals, the largest being the BMS-Celgene and AbbVie-Allergan mergers announced in Q1 and Q2, respectively.

In addition to traditional M&A, sector participants were active in restructuring and investing in therapeutics and health care technologies, with a focus on rebalancing product portfolios, unlocking shareholder value, and driving long-term, sustainable growth.

In March 2019, our Life Sciences and Health Care sector group released our annual Hogan Lovells LS&HC Horizons publication, a compilation of our global team’s perspectives on more than 30 hot topics impacting the industry, such as biosimilars, digital health, artificial intelligence in drug design, drug pricing, and related M&A trends.

Following the launch of the publication, our team hosted a series of events in Boston, London, Paris, Tokyo, and Silicon Valley to discuss these topics with our clients and to hear their perspectives on the forces driving the sector forward.

500+

Life Sciences
and Health Care lawyers

Band 1

Life Sciences
Chambers Global, 2019

In 2019, Hogan Lovells advised on the following
LSHC transactions, among others:

Atrium Health

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Atrium Health

We advised Atrium Health, a 40-hospital and US$10bn health system, and Wake Forest Baptist Medical Center, a leading U.S. academic medical center, on their combination. Historically, this is one of very few deals involving the combination of a leading academic medical center and a larger health system. Atrium is now a top 10 national health system in size. A team of lawyers in our Washington, D.C., New York, and Denver offices led this transaction, with support from our antitrust, finance, regulatory, and tax practices.

Novartis

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Novartis

We advised Novartis on its acquisition of IFM Tre, a subsidiary of IFM Therapeutics, for up to US$1.575bn and on its option to acquire IFM Due, also a subsidiary of IFM Therapeutics, for up to US$840m. The transactions allow Novartis to advance the development of NFLP3 and potentially cGAS/STING inhibitors to treat a range of serious inflammatory and autoimmune diseases. A team of lawyers in our New York office led these transactions for Hogan Lovells, with support from our antitrust, employment, employee benefits, intellectual property, regulatory, and tax practices.

Osiris Therapeutics

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Osiris Therapeutics

We advised Osiris Therapeutics, a developer of regenerative medicine products, on its US$660m sale to British medical technology group Smith & Nephew. With Osiris's growing portfolio, the sale is expected to accelerate developments in Smith & Nephew’s Advanced Wound Management franchise. A team of lawyers in our Washington, D.C. office led this transaction, with support from our regulatory and tax practices.

PerkinElmer

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PerkinElmer

We advised PerkinElmer, a global instruments, tests, and software provider to the diagnostics, life sciences, food, and applied markets, on its acquisition of Cisbio Bioassays. The addition of Cisbio’s capabilities to PerkinElmer enables life science researchers to have access to assay tools that address the broad diversity of target types and biological configurations, for both small molecule and biologic drug discovery. A team of lawyers in our Paris office led this transaction.

“The Hogan Lovells top-class team excels in life sciences and health care.”

Chambers Europe, 2019

Life Sciences and Health Care market statistics as published in Hogan Lovells Deal Dynamics

10%

10%

Decrease in global deal volume
(2019 vs. 2018)

26%

26%

Increase in global deal value
(2019 vs. 2018)

3rd

3rd

Sector by global deal value
(2019)

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