In the first five months of 2024, there was a surge in high-value deals, though none have yet matched the scale of Pfizer’s $43 billion acquisition of Seagen, which closed in December 2023. With Novo Holdings’ $16.5 billion purchase of Catalent leading the pack, 2024 reflects a mixed but strong trend toward sizable M&A…
Biopharma M&A in 2023 navigates shifting climate with calculated bets on de-risked targets
2023 biopharma M&A trends M&A activity has rebounded to a degree in 2022 and 2023, but deal-making is still below some of the top years in recent decades, including 2011, 2014, and 2015. While M&A remains a fact of life in biopharma, buyers are selective about disease focus areas. Oncology, immunology and obesity/cardiometabolic therapies are…