Thermo Fisher bagged the year’s biggest deal in April when it agreed to acquire Life Technologies for $13.6 billion, plus assumption of Life Tech’s $2.2 billion in debt. The transaction created a powerhouse in biopharma lab instrumentation and supplies with combined revenues of $16.3 billion and about 50,000 employees. But that workforce is expected to shrink over three years, as Thermo plans to cut $250 million by combining infrastructure with Life Tech, plus another $25 million by combining the companies’ commercial capabilities. In November, Thermo won European Commission clearance after agreeing to shed its cell culture (sera and media), gene modulation, and magnetic beads businesses. The deal is expected to win all remaining regulatory approvals and close in 2014.
Next-biggest deal was Amgen’s $9.7 billion buy of Onyx Pharmaceuticals, in a deal that added Onyx’s multiple myeloma drug Kyprolis (carfilzomib) and two other drugs to Amgen’s cancer holdings. Valeant Pharmaceuticals snapped up Bausch & Lomb for $8.7 billion, creating a more-than-$3.5 billion-a-year eye-care giant—while Perrigo snapped up Elan for $8.6 billion, ending months of uncertainty about Elan’s future that included a hostile takeover bid by Royalty Pharma. On the smaller end of deals, Cubist Pharmaceuticals spent $1.2 billion on a pair of acquisitions, Trius Therapeutics (for $707 million) and Optimer Pharmaceuticals (an additional $535 million). And China’s BGI-Shenzhen cleared U.S. and Chinese regulatory hurdles to acquire Complete Genomics for $117.6 million.
Not all deals succeeded: PharmAthene called off a planned merger with Theraclone Sciences for an undisclosed price, about a week after Theraclone was turned down for federal funds to advance development of its recombinant fully-human monoclonal antibody TCN-032 into Phase II trials for serious influenza, including pandemic flu.