Life sciences M&A values halve, volumes plunge. Will we ever see deals pick up again?

Fewer, smaller, clearer: That was the deal picture for life sciences in 2022. Industrywide, M&A volume is down 48% while deal valuations plunged 28% this year, according to a new analysis from PwC. But pharma has much less uncertainty heading into 2023, so could we finally see the long-promised flood of deals?