Health
Private Deals Lead Pharma M&A With Few Public Targets Available
- Sector transaction values cool off after hot streak in 2023
- Big Pharma switches to private deals, with activity up 198%
The value of biotech deals down by more than 40% year-on-year to about $40 billion.
Photographer: Vivian Wan/BloombergThis article is for subscribers only.
After defying the biggest dealmaking downturn in a decade, Big Pharma is taking a little breather from chasing public companies in favor of smaller, private targets.
Drugmakers including Bristol Myers Squibb Co. and Abbvie Inc. spent heavily on targets during the later months of last year, often paying hefty premiums in a bid to refresh aging portfolios with new blockbuster medicines.