2022 was an unspectacular year on the biotech M&A front. The industry witnessed a decline in both deal volume and value, as potential purchasers exercised caution due to economic and geopolitical uncertainties. The aggregate total deal value of all M&A transactions signed in 2022 has significantly dropped by 55 per cent, plummeting from $225 billion to just $103 billion during the same period, according to IQVIA Pharma Deals.
But that’s set to change and the landscape is looking hopeful fuelled by several billion dollar acquisitions by big pharma firms. Five big pharma companies (AstraZeneca (UK), Pfizer (USA), Sanofi (France) Merck (USA) and GSK (UK)) have announced acquisitions worth approximately $60 billion in total, raising hopes that this could be a rebound year for biotech M&A.
AstraZeneca was the first to make a move, announcing on January 9, 2023, its plan to acquire CinCor Pharma, a US-based company, for $1.8 billion. The acquisition aims to enhance AstraZeneca’s pipeline for treating hypertension and chronic kidney disease. Then, on March 13, 2023, came Pfizer’s proposed acquisition of Seagen for an eye-popping $43 billion, enhancing the American multinational’s position as a leading company in oncology. On the same day, French drugmaker Sanofi acquired US-based Provention Bio for $2.9 billion to bolster its portfolio of diabetes medicines.
On April 16, 2023, US-based behemoth Merck purchased Prometheus Biosciences, an American clinical-stage biotechnology company specialising in immune-mediated diseases, for $10.8 billion. On April 18, 2023, British drug major GlaxoSmithKline (GSK) announced its acquisition of Canadian firm BELLUS Health for $2.0 billion, gaining access to a potential best-in-class treatment for chronic cough.
This story is from the July 2023 edition of BioSpectrum Asia.
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This story is from the July 2023 edition of BioSpectrum Asia.
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