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Leading life science investment advisor Torreya shares high level of sector optimism for 2021.

January 11, 2021 | Torreya

Torreya, a leading global investment banking boutique providing mergers and acquisitions, capital markets, and licensing advisory services to life sciences companies, today released a report sharing broad optimism for the pharmaceutical sector in 2021. They analyze recent market and political factors to predict strong markets for drug sales, private investment, and vertical M&A activities.

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OxyContin maker to plead guilty to federal criminal charges, pay $8 billion, and will close the company

October 22, 2020 | CNN

Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation's opioid crisis and will pay more than $8 billion and close down the company. The money will go to opioid treatment and abatement programs. The privately held company has agreed to pay a $3.5 billion fine as well as forfeit an additional $2 billion in past profits, in addition to the $2.8 billion it agreed to pay in civil liability.

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2020 Life Sciences Sector Report from CLSA shows strong growth in jobs, investments and therapeutic pipeline in California

October 7, 2020 | California Life Sciences Association

California Life Sciences Association (CLSA), the trade association representing California’s life sciences industry, today released the 2020 California Life Sciences Sector Report, which shows that California’s life sciences sector directly employed 323,723 people, generated $191.6 billion in revenue, is projected to attract $6.5 billion in venture capital (VC) and received $4.5 billion in funding from the NIH. Produced with PwC US, the 2020 snapshot highlights the strength of California’s biomedical sector – the largest cluster in the world – as evidenced by significant increases in employment, earnings, graduating science and engineering PhDs, VC investment and potential new drugs and medical devices in the pipeline.

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Piramal Pharma Announces Completion of 20% Strategic Growth Investment by Carlyle

October 6, 2020 | Piramal Pharma

Piramal Pharma Limited (PPL), a subsidiary of Piramal Enterprises Limited (“PEL”, NSE: PEL, BSE: 500302, 912460) today received INR 3523.40 Crores on closure of the transaction for 20% equity investment from CA Alchemy Investments (formerly known as CA Clover Intermediate II Investments), an affiliated entity of CAP V Mauritius Limited, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc. (“Carlyle”). The transaction values the Pharma Business at an enterprise value (EV) of US$2,775 million with an upside component of up to US$360 million depending on the company’s FY21 performance. This transaction is one of the largest private equity deals in the Indian pharmaceutical sector. It provides PPL growth capital that enables it to invest in accelerated business growth through both organic and inorganic opportunities.

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