7. Buyer: Bayer
Price: $2.9 billion
After Bayer bid $2.4 billion to buy Algeta, some analysts predicted it would need to put down more to snag the oncology company. After all, the Norwegian drugmaker discovered Xofigo, one of Bayer's shining growth prospects, and it has some other radiation-based cancer technologies--including an armed antibody approach--in the works. So Bayer ponied up, chipping in another $500 million to seal the deal.
Now, some analysts say the German pharma may have bid too high, but Bayer may well find that Algeta was worth the price. The company is working to beef up its oncology presence, and its other cancer partner--Onyx Pharmaceuticals, which co-markets Stivarga and the older Nexavar--was snapped up by Amgen ($AMGN) last summer.
Plus, Xofigo is an asset that figures heavily into Bayer's sales plans for its pharma unit. The new radiotherapy for prostate cancer that has spread to the bone is part of a 5-drug group the company expects will rake in $10.3 billion or more when they reach their peak; Bayer has pegged Xofigo on its own as a $1 billion-plus med.
Special Reports: The top 10 pharma companies by 2013 revenue - Bayer HealthCare
With Big 5, Bayer aims for 8% annual pharma growth through 2016
New drugs in hand, Bayer's pharma sales leap ahead
With a sweetened $2.9B bid, Bayer nabs its Xofigo partner, Algeta
Bayer bids $2.4B for Xofigo partner Algeta in drive for cancer growth
-- Carly Helfand (email | Twitter)