The pandemic may have deterred biopharma deal-making, particularly large-scale deals, during 2020 but the industry retains significant firepower heading into 2021, a new report from EY says. Issued on 11 January, the first day of the virtual J.P. Morgan Healthcare Conference, EY’s report notes that there was $159bn of life sciences M&A activity last year, down from $306bn in 2019, a record-setting year.
Biopharmaceutical companies only used 12% of their aggregate firepower – defined by EY’s life sciences business development group as capacity...