Biopharma buyouts bounce back

After a relatively slow couple of years on the buyout front, biopharma is picking up the pace. Sector M&A spending topped $80bn in the first half of the year, new data from Evaluate Pharma reveal, putting 2023 on track to be the busiest for takeovers since 2019.

This year’s tally is propped up by Pfizer’s largesse; its $43bn swoop on Seagen will in all likelihood end up as 2023’s largest M&A move. The string of bolt-on deals coming behind that transaction shows that large developers are taking advantage of tough economic times to build their pipelines.