After a lengthy drought, could biotech M&A be on the upswing?

Between April and June, there were at least 14 biopharma acquisitions worth $50 million or more, a tally roughly two- to three-times larger than what was seen in that stretch in each of the last four years. And if megadeals like AbbVie’s 2019 takeover of Allergan weren’t factored in, this year’s second quarter would outrank the prior four in value, with approximately $23.4 billion spent on buyouts.