Biopharma’s buyout year ends with a bang

Biopharma watchers have decried lean times for takeouts for some while now, naming lofty valuations and a hawkish stance from antitrust regulators as deterrents to deal making. Activity has picked up in the last couple of weeks, however, with a string of bigger purchases announced.

Yesterday saw CSL’s long-rumoured interest in Vifor formalised, with an offer worth $11.7bn, following Pfizer’s $6.7bn swoop on Arena. This buying spree could take 2021’s M&A spend above last year’s – assuming the deals manage to close.