M&A Activity Up Year-Over-Year, Driven By Tax-Inversion Deals And Diversification
This article was originally published in The Pink Sheet Daily
The Actavis/Forest deal was the largest deal in the first quarter, but was among 62 deals in total that were signed in the biopharma sector during the quarter.
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Actavis’ proposal to buy Forest Labs for $25 billion in stock and cash was driven by consolidating customers and fierce competition in traditional Western markets. Different pressures, namely the tough-to-manage patent cliff, as well as leadership succession issues and investor unrest, drove Forest into the arms of a suitor.
Meanwhile, companies like Mylan and Novartis also reportedly have joined the Actavis chase. In addition, there’s been deal-making news from Elan and Theravance, Merck-Serono and Quintiles, and AbbVie and Alvine.