Big Pharma’s Busiest Deal-Makers In 2021 Were Less Prolific Than In 2020

Roche Holding AG, Genentech, Inc.  and their affiliated companies were the busiest deal makers in the biopharmaceutical sector for the second consecutive year in 2021, with 23 deals across all categories, including mergers and acquisitions, licensing and partnerships, and divestments and out-licensing. That pace decreased substantially, however, from a total of 34 deals under the Roche umbrella in 2020, when the emerging COVID-19 pandemic spurred partnering activity but tamped down the M&A market a bit.

By total potential value – comprising upfront payment as well as earnouts such as milestone payments, research funding and option/licensing fees – the 10 busiest large biopharmas transacted $118.49bn worth of deals in 2021. That total declined from more than $155