Counterparty Playbooks
Every acquirer pays a different premium — AbbVie’s checks aren’t Gilead’s checks. We compute each buyer’s historical premium vs. the comparable-deal median from 39 buyers with at least three disclosed transactions. Use this to anchor negotiations to what the counterparty actually pays, not industry averages.
Methodology: each buyer’s deals are scored against same-TA, same-phase peer medians. Premiums are clamped to [0.7×, 1.5×] to reject outliers. Confidence scales with sample size: ≥10 deals high, 5–9 medium, 3–4 low.
| Buyer | Premium | Disclosed deals | Confidence | Top TAs | |
|---|---|---|---|---|---|
| Sanofi | ×1.08 | 58 | High confidence | oncology, immunology, rareDisease | View → |
| AbbVie | ×1.36 | 51 | High confidence | oncology, neurology, immunology | View → |
| AstraZeneca | ×1.05 | 47 | High confidence | oncology, immunology, rareDisease | View → |
| N/A (standalone) | ×1.16 | 44 | High confidence | rareDisease, dermatology, ophthalmology | View → |
| Roche | ×1.36 | 40 | High confidence | oncology, immunology, metabolic | View → |
| Merck | ×0.96 | 40 | High confidence | oncology, immunology | View → |
| Novartis | ×1.34 | 38 | High confidence | oncology, cardiovascular, rareDisease | View → |
| Gilead Sciences | ×1.42 | 34 | High confidence | oncology, immunology, gastroenterology | View → |
| Biogen | ×1.27 | 30 | High confidence | oncology, neurology, rareDisease | View → |
| Bristol-Myers Squibb | ×1.28 | 30 | High confidence | oncology | View → |
| Johnson & Johnson | ×1.05 | 28 | High confidence | oncology, immunology, dermatology | View → |
| Eli Lilly | ×1.09 | 26 | High confidence | oncology | View → |
| Regeneron | ×0.85 | 25 | High confidence | oncology | View → |
| Amgen | ×1.04 | 23 | High confidence | oncology | View → |
| Pfizer | ×1.04 | 23 | High confidence | oncology | View → |
| Bayer | ×1.34 | 20 | High confidence | oncology, womensHealth | View → |
| Takeda | ×0.90 | 19 | High confidence | oncology | View → |
| Pfizer | ×1.50 | 18 | High confidence | oncology, infectiousDisease, gastroenterology | View → |
| Novo Nordisk | ×0.70 | 18 | High confidence | metabolic, cardiovascular | View → |
| Moderna | ×0.79 | 17 | High confidence | oncology | View → |
| Eli Lilly and Co. | ×1.43 | 16 | High confidence | metabolic, gastroenterology | View → |
| GSK | ×1.03 | 15 | High confidence | oncology | View → |
| Vertex | ×1.19 | 15 | High confidence | oncology | View → |
| Boehringer Ingelheim | ×1.15 | 13 | High confidence | oncology | View → |
| Vertex Pharmaceuticals | ×0.85 | 6 | Medium confidence | — | View → |
| Astellas Pharma | ×1.50 | 6 | Medium confidence | — | View → |
| Sun Pharma | ×0.79 | 6 | Medium confidence | dermatology | View → |
| Janssen (J&J) | ×1.50 | 5 | Medium confidence | — | View → |
| Neurocrine Biosciences | ×1.32 | 4 | Low confidence | neurology | View → |
| Sun Pharma Dermatology | ×0.99 | 4 | Low confidence | dermatology | View → |
| Sarepta Therapeutics | ×0.88 | 4 | Low confidence | rareDisease | View → |
| Alexion Pharmaceuticals | ×0.84 | 3 | Low confidence | rareDisease | View → |
| Organon | ×1.49 | 3 | Low confidence | — | View → |
| Viatris | ×0.70 | 3 | Low confidence | — | View → |
| BioMarin | ×1.32 | 3 | Low confidence | rareDisease | View → |
| Seagen | ×1.48 | 3 | Low confidence | — | View → |
| Alnylam Pharmaceuticals | ×1.50 | 3 | Low confidence | — | View → |
| Incyte | ×0.70 | 3 | Low confidence | — | View → |
| Madrigal Pharmaceuticals, Inc. | ×1.38 | 3 | Low confidence | metabolic | View → |