2. >>Deal-Making

The ‘Biggest’ Dealmakers Of 2023 Were Not The Busiest

 
• By Joseph Haas

Eli Lilly, striving to outpace Novo Nordisk, dominated the dealmaking scene in 2023 by executing six acquisitions. Although Pfizer, BMS and AbbVie sealed the largest M&A deals of the year, they did not lead in terms of volume.

Deal making concept
The year’s biggest dealmakers – Pfizer, Bristol Myers Squibb and AbbVie – were not among the five busiest based on a review of dealmaking data • Source: Shutterstock

Deal volume was down last year both in M&A and alliances, but valuations rose. 

Early in 2023, Pfizer Inc. set the tone for a year of moving on from the COVID-19 pandemic by agreeing to pay $43bn for Seagen and its portfolio and pipeline of antibody-drug conjugate (ADC) therapies for cancer. Also see "Pfizer Pays $43bn For Seagen With Goal Of Rapidly, Globally Advancing ADCs" - Scrip, 13 March, 2023. The dominance of ADCs in both mergers-and-acquisitions and alliance activity echoed throughout the year

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