Drug Buying Spree Still Bustling as Pfizer Leads Hunt

After a record-breaking year of mergers and acquisitions in the health-care industry, bankers, venture capitalists and analysts say more is to come from companies such as Pfizer Inc. and Actavis Plc.

For big drugmakers, “the only real place they can find growth is through acquisition,” Jeff Stute, head of health-care investment banking at JPMorgan Chase & Co., said in a telephone interview from New York.