- Arena Pharmaceuticals got acquired by Pfizer for US$ 6.7 Bn (~100% valuation) on December 12th. As a result, the market for late-stage oral IBD candidates that big pharma can acquire is thinning.
- After the JAKi's black-box warning and a wave of biosimilar/generics soon entering, big pharmaceutical companies are likely in dire need to acquire a novel oral IBD drug to bolster their pipeline.
- In our view, the J.P. Morgan Health Care Conference is the key catalyst for Abivax as we expect a potential blockbuster BD/M&A deal.
- Abivax is currently only trading at ~US$440M valuation. In our view, this valuation is extremely undervalued - which is only 6% of the Pfizer/Arena deal.
For further details see:
Abivax: Potentially The Next Arena Pharmaceuticals, Most Ideal Big Pharma M&A Target In 2022