Meet The New $200bn Normal In M&A, EY Says
This article was originally published in The Pink Sheet Daily
Pharmaceutical sector will continue to fill in growth gaps, consulting firm says in new report.
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Six pharma deals announced thus far in 2016 carried up-front values of $1 billion or more, down considerably from the high-volume, high-value M&A industry experienced the prior two years. Pharma manufacturers appear to be recalibrating – digesting previous acquisitions, adjusting to new biotech valuations and taking stock of the political and macro-economic climate – but fundamentals suggest pharma dealmaking will pick up. Pfizer’s $14 billion offer for Medivation might represent a turning point.
Sanofi will trade Merial animal health for most of Boehringer Ingelheim’s OTC drug and supplement business as both drug makers look to build critical mass in key diversified areas. Consumer healthcare is poised to become Sanofi’s second top-selling franchise after diabetes.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.