Take Over "SPECULATION ONLY"

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Major Takeovers in 2024–2025

• Novo Nordisk acquired Catalent for $16.5B to boost manufacturing capacity for its blockbuster GLP-1 diabetes and obesity drugs.

• Bristol-Myers Squibb (BMS) bought Karuna Therapeutics for $14B, adding a promising schizophrenia drug to its portfolio.

• Merck & Co. snapped up Prometheus Biosciences for $10.8B, targeting precision immunology.

• AbbVie made two big moves:

  • Acquired ImmunoGen for $10.1B, gaining access to antibody-drug conjugates for ovarian cancer.

  • Bought Cerevel Therapeutics for $8.7B, expanding its neuroscience pipeline.

Drivers Behind the M&A Surge

• Patent expirations: Analysts project up to $300B in lost revenue by 2028–2030 as blockbuster drugs lose exclusivity.

• Strategic portfolio expansion: Companies are targeting bolt-on acquisitions under $5B to complement existing therapeutic areas.

• Regulatory climate: A more business-friendly FTC under the current U.S. administration is expected to ease deal approvals

Top Takeover Targets for 2025

According to GEN, these biopharma companies are on analysts’ watchlists:

Company	Focus Area	Why They're a Target
Arcellx	CAR-T therapy for multiple myeloma	Strong Phase II data, potential best-in-class
BioMarin	Rare diseases	Restructured pipeline, rising revenue
Blueprint Medicines	Systemic mastocytosis	$2B peak sales forecast for Ayvakit
Evotec	CRO services	Private equity interest, restructuring
Immutep	Immunotherapy	Patent longevity, promising combo data
Insmed	Respiratory diseases	$5B+ peak sales potential for brensocatib
Legend Biotech	CAR-T therapy	Partnered with J&J, blockbuster potential

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Who would be likely to take over INOVIQ LTD
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Potential Suitors

Company	Rationale
Roche	Already dominant in diagnostics; INOVIQ’s SubB2M tests outperform Roche’s CA15-3.
Thermo Fisher Scientific	Active in exosome research; could integrate EXO-NET into its research tools.
Abbott Laboratories	Expanding diagnostics footprint; INOVIQ’s pipeline aligns with oncology focus.
Promega	Existing partner; may seek vertical integration of EXO-NET platform.
Danaher (via Cepheid)	Known for acquiring disruptive diagnostics platforms.

Strategic Fit

• Diagnostics giants could absorb INOVIQ to enhance cancer screening portfolios.

• Biotech conglomerates may see value in the therapeutic pipeline, especially the CAR-exosome program.

• Private equity could target INOVIQ for roll-up strategies in precision medicine.

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In Our Sector

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Comparable Companies Recently Acquired

Company	Focus Area	Acquirer	Deal Value	Year
ImmunoGen	Antibody-drug conjugates (ADC)	AbbVie	$10.1B	2024
Mirati Therapeutics	Oncology (KRAS inhibitors)	Bristol-Myers Squibb	$5.8B	2024
RayzeBio	Radiopharmaceuticals for solid tumors	Bristol-Myers Squibb	$4.1B	2024
Fusion Pharmaceuticals	Radioconjugates for prostate cancer	AstraZeneca	$2.4B	2024
Ambrx Biopharma	ADCs for prostate cancer	Johnson & Johnson	$2B	2024
Gracell Biotech	CAR-T cell therapy	AstraZeneca	$1.2B	2024
MorphoSys AG	Hematologic oncology	Novartis	€2.7B	2024
Cerevel Therapeutics	Neuroscience & psychosis	AbbVie	$8.7B	2024

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