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Last week, we saw Shanda Games Ltd. (NASDAQ: GAME) raise a cool $1 billion in its IPO.And today, there was another big-time offering: Talecris Biotherapeutics Holdings picked up $950 in its IPO (issuing 50 million shares at $19 each). This is the second largest IPO of 2009.
Talecris is one of the largest producers/marketers of plasma-derived protein therapies, dealing with things like chronic inflammatory demyelinating polyneuropathy (CIDP), primary immune deficiencies (PI), alpha-1 antitrypsin deficiency, bleeding disorders, and severe trauma.
Last year, Talecris posted $1.4 billion in revenues and $65.8 million in net income. As for the first half of this year, revenues are up 20.1% and net income is at $116.7 million. Although, roughly 70% of the revenues come from two flagship drugs, Prolastin and Gamunex.
Interestingly enough, Cerberus and Ampersand purchased Talecris in 2005 from Bayer AG for $590 million in 2005. No doubt, this is a nice win, especially for Cerberus (which has had a bad string of luck lately).
So far in today's trading, Talecris' shares are up $0.83 to $19.83.
The lead underwriters on the deal include Morgan Stanley (NYSE: MS), Goldman, Sachs & Co. (NYSE: GS), Citi (NYSE: C) and J.P.Morgan (NYSE: JPM).
Tom Taulli is the author of various books, including The Complete M&A Handbook
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