Slow Q3 For Biopharma M&A Boosted By Biogen/Reata

Biogen’s acquisition of Reata lifted the third quarter’s M&A value above $13bn, but data from Evaluate show that acquisition activity cratered in both August and September.

M&A
After a strong start in 2023, M&A declined in August and September • Source: Shutterstock

A heady start for biopharmaceutical M&A during the first half of 2023 slowed to a crawl during Q3 and particularly the months of August and September, as data recorded by Evaluate show. Biogen, Inc.’s $7.3bn acquisition of Reata Pharmaceuticals, Inc. in July accounted for more than half of the quarter’s M&A valuation of slightly more than $13bn, with only three other acquisitions valued at $1b or higher during Q3.

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