As 2023 began, biopharmaceutical industry observers predicted an increase in both merger-and-acquisition activity as well as the return of some larger transactions similar to the occasional mega-mergers seen before the COVID-19 pandemic. During the first quarter, this expectation was realized as Pfizer Inc. sought to bolster its cancer biologics portfolio with the $43bn acquisition of the antibody-drug conjugate specialist Seagen.
The Biggest M&A Announcements Of 2023 Show Deals Are Getting Bigger
M&A activity in 2023 began with March’s $43bn mega-deal for Seagen, but only one eight-figure takeout has occurred since. Still, the values are higher overall than seen in 2022 and might indicate a gradual return to larger deals.
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