Case Studies

Asset Search and BD AnalyticsCase Study

Commercial diligence for the selling company in the context of an M&A transaction

The Situation

  • A client (seller), a publicly traded diagnostics company, was in the midst of negotiations with a potential buyer who had a portfolio of six pharmaceutical assets that spanned preclinical to Phase II development

The Ask

  • Because an all-stock transaction was proposed, the client sought to conduct an in-depth evaluation of the buyer’s portfolio in order to better understand the value and future market potential of these assets
  • The project was extremely time-sensitive; our team collaborated with external clinical and regulatory experts over a three-week period in order to deliver the final report and recommendations in preparation for final negotiations

The Actions

Secondary Research

  • Armed with materials provided by the client, as well as secondary sources for each of the six drug development candidates, we carried out a due diligence of the assets’ efficacy and safety profile, regulatory status, clinical development status, medical relevance, commercial potential, manufacturability, and intellectual property
  • We created a ranking system for each asset, which was then factored into the analysis of the market opportunity, product attributes, available efficacy and safety data, development challenges, and commercial potential that ultimately supported client’s negotiation strategy

The Impact

PROVIDED insights into buyer’s assets that offered a benefit in client negotiations with a focus on the following: market value in a crowded and genericized market, the need for additional clinical studies to differentiate from competition, challenges with pricing, and marketing strategies needed to drive product sales

PRESENTED our findings and recommendations at the client’s board meeting leading up to final contract negotiations. The client was subsequently acquired by said buyer for > $1 billion

Representative Deliverables

Asset Attributes

Sample report page

Key Considerations

Sample report page

Asset Advantages and Disadvantages

Sample report page

Asset Scoring and Prioritization

Sample report page