N/A (standalone)
Pays vs peer median
×1.16
+16% premium
Sample
44
high confidence
Last refreshed
2026-04-13
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| rareDisease | ×1.50 | 9 |
| dermatology | ×1.50 | 8 |
| ophthalmology | ×0.70 | 5 |
| gastroenterology | ×1.50 | 5 |
| womensHealth | ×0.70 | 4 |
| cardiovascular | ×0.70 | 4 |
| oncology | ×1.50 | 3 |
| infectiousDisease | ×0.70 | 3 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| approved | ×1.26 | 29 |
| phase 3 | ×1.50 | 7 |
| phase 2 | ×0.70 | 6 |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2024 | polycythemiaVera | Disc Medicine | polycythemiaVera | phase_2 | — | $2.0B |
| 2024 | resistantHypertension | Ardelyx | resistantHypertension | approved | — | $1.6B |
| 2024 | psoriasis | AbbVie | psoriasis | approved | — | $8.2B |
| 2024 | myastheniaGravis | Argenx | myastheniaGravis | approved | — | $2.1B |
| 2024 | crohns | Roche | crohns | phase_3 | — | $7.1B |
| 2024 | wetAmd | Roche/Genentech | wetAmd | approved | — | $5.2B |
| 2024 | endometriosis | Biora Therapeutics | endometriosis | phase_1 | — | $150M |
| 2024 | rareMetabolic | Ultragenyx | rareMetabolic | approved | — | $800M |
| 2024 | rareAutoimmune | Takeda | rareAutoimmune | approved | — | $6.5B |
| 2024 | atopicderm | Sanofi/Regeneron | atopicderm | approved | — | $13.0B |
| 2024 | psoriasis | Novartis | psoriasis | approved | — | $4.2B |
| 2024 | psoriasis | UCB | psoriasis | approved | — | $1.4B |
| 2024 | fertilityArt | Organon | fertilityArt | approved | — | $6.4B |
| 2024 | vitiligo | Incyte | vitiligo | approved | — | $500M |
| 2024 | myocarditis | Cardiol Therapeutics | myocarditis | phase_2 | — | $250M |
How this is computed
For each N/A (standalone) deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 44 disclosed deal premiums vs. peer medians. Raw premium 1.157, clamped to [0.7, 1.5].