Biotech: the engines of acquisitions are heating up again
30 August 2022 _ News
A flurry of M&A deals among US biotech companies is driving the recovery of one of the hardest hit sectors since the start of the year.
The latest deal was announced by Pfizer Inc., which intends buy Global Blood Therapeutics Inc, a deal worth .4 billion. Earlier, Amgen Inc. said it would spend .7 billion to purchase ChemoCentryx Inc. Gilead Sciences also said it would pay 5 million for MiroBio. And, in the early summer, Merck declared an interest in acquiring Seagen Inc., a deal that could be worth billion.
Such deals are crucial to the industry, with many small liquidity-intensive companies looking to attract large biopharmaceutical companies to help financing drug development as they move through limited cash reserves. At the same time, larger companies want to add innovative assets to their pipelines and portfolios. The value of transactions in the third quarter is already higher than that of the entire first three months of the year, according to Bloomberg.
In addition to M&A operations, another fundamental driver of the sector are positive research data, emerged especially in recent weeks.
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