Q2 deal activity points to potential 'bumper year' for pharma — report
08 Jun 2023
Acquisition
High-dollar deals in the second quarter and hungry pharmas looking to fill gaps in their pipelines are “raising hopes for a bumper year,”
Evaluate Vantage
said in its dealmaking report released during the 2023 BIO conference.
However, the “FTC baring its teeth in an expanded remit may squash them entirely,” the report states.
M&A is off to a strong start following a year of falling stock prices and tough decisions as companies sought to conserve capital. Investment-banking firm Torreya called it a “blistering pace,” with highlights including
Pfizer’s $43 billion Seagen deal
,
Merck’s $10.8 billion Prometheus deal
, and
GSK’s $2 billion Bellus Health
deal. Despite what it called
“lackluster” activity
in 2022, PwC predicted at the end of last year that dealmaking in 2023 will “more closely resemble prior years with a total deal value in the $225 billion to $275 billion range across all subsectors.”
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