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In the first few weeks of 2024, oncology remained a central focus area for M&A deals. Two major acquisitions, Johnson & Johnson’s purchase of Ambrx Biopharma and Merck & Co.’s acquisition of Harpoon Therapeutics, both focus on the segment. The trend is long-standing and was also apparent in 2023, as E&Y has noted. Merck was also active in 2023, bagging Prometheus for $11B. 2024 pharma M&A trends: Strategic expansions beyond oncologyBut a number of therapeutic areas are also in the mix. Sanofi kicked off the yera by scooping up rare disease biotech Inhibrx for $1.7 billion. The crown jewel is Inhibrx’s INBRX-101, a potential treatment for alpha-1 antitrypsin deficiency, an inherited disorder that can cause lung and liver disease. Phase 1 data is positive.
In the generics space, Sun Pharma finally finalized its long-sought deal for generic specialist Taro…