The past year yielded a downward trend across the board for dealmaking in the biopharmaceutical sector, regardless of which metric one looks at. In the area of mergers and acquisitions, deal volume, total value and average value declined compared to 2023, while for alliances, deal volume, total potential deal value and average deal value all fell off from 2023 as well.
Biopharma Deal Metrics Declined Across The Board In 2024
INFOGRAPHIC: 2024 was a particularly quiet year for biopharma M&A, with no buyouts reaching the $5bn threshold, while alliance volume and valuations declined compared to 2023, as well.

More from Deals
Plus deals involving GV20/Mitsubishi Tanabe, Kaken/Alumis, AstraZeneca/Alteogen and deal terminations involving Clover/Gavi Alliance and Rhythm/RareStone.
The obesity market leader has unveiled its second deal in days, paying $75m upfront for a potential first-in-class ACSL5 inhibitor, while the deal also provides some respite for Lexicon.
Plus deals involving Relmada/Trigone, Alvotech/Xbrane, OPKO Health/Entera, iOncologi/TargImmune and more.
Merck & Co., which already has an oral PCSK9 inhibitor in Phase III, licensed Hengrui’s Lipoprotein(a)-lowering small molecule HRS-5346 outside of Greater China for $200m up front.
More from Strategy
The head of the Spanish medical dermatology specialist told Scrip that maintaining the status quo will only result in the continent’s life sciences sector slipping further behind the US and China.
Stakeholders are pleading for newly confirmed FDA Commissioner Martin Makary to stand up for the agency's high scientific standards and staff as he begins his term.
Plus deals involving Relmada/Trigone, Alvotech/Xbrane, OPKO Health/Entera, iOncologi/TargImmune and more.