With only weeks to go in 2022, the three major pharmas each had inked between 16 and 20 deals. Meanwhile, Pfizer has been less busy with 12 deals, but those include M&A totaling $18.2bn.

During Q3, biopharma merger and acquisition value reached $15.4bn and drew in $37.6bn in potential deal value from alliances. Device company M&A values reached $550m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.9bn.

Just one $1bn+ alliance was penned in September compared to eight that were signed in August.

Torrent’s $245m acquisition of Curatio Healthcare has moved it up a rank to No.7 in the overall Indian pharmaceutical market apart from making it the market leader in cosmetic dermatology. While it’s a pricey deal, factors like growing prevalence of skin diseases and shift towards e-commerce bode well for future revenue growth in a nascent market