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M&A Took A Holiday In Q3, With Decreased Volume And Value

 
• By Joseph Haas

The biopharma industry posted 22 mergers and acquisitions during the third quarter, according to Evaluate, for a total of $8.2bn. Those tallies marked a second consecutive quarter of decline.

M&A review
Q3 2024 yielded a decline in M&A volume and value for the second consecutive quarter • Source: Shutterstock

Merger-and-acquisition activity in the biopharmaceutical sector fell off sharply during the third quarter, a second consecutive quarter of decline after the busy and high-spending Q4 2023 and Q1 2024, Evaluate data reveal. Deal volume and total deal value were down sequentially, while the quarter’s largest deal was notably smaller than the biggest recorded during Q2.

Last year’s acquisition activity finished with a bang with a pair of $10bn-plus deals in the final month of 2023, and this year’s first quarter produced Novo Nordisk A/S’s $16.5bn takeout of Catalent, Inc. But M&A in the second quarter totaled just over $20bn, spread across 38 transactions, with Vertex Pharmaceuticals Incorporated’s $4.9bn purchase of Alpine Immune Sciences Inc. the largest deal during those three months

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