In 2023, life science dealmaking saw fewer but more valuable transactions, with merger and acquisition (M&A) activity increasing by 80% over 2022 as companies navigate challenges like patent expirations and high interest rates. Merck & Co. led notable deals, significantly expanding its oncology portfolio, while Bristol Myers Squibb acquired Karuna Therapeutics to enhance its neuroscience capabilities. The Inflation Reduction Act’s provisions on drug pricing are anticipated to further drive interest in biologics. Overall, pharma companies are strategically partnering with biotechs to innovate while remaining selective in their spending to handle potential revenue declines in the coming years.
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Link to original article source: https://clarivate.com/life-sciences-healthcare/blog/pharma-is-placing-bigger-bets-on-fewer-more-strategic-assets-and-platforms/
