Pharma M&A activity primed for another high-flying year in 2024

[Adobe Stock]

Despite challenging interest rates and regulatory environment, pharma M&A activity surged in 2023 with deal volume up more than 30% from the prior year based on a review of more than 200 acquisitions since 2018. The total disclosed deal value in 2023 also more than doubled the prior year’s tally to surpass $100 billion. While the pandemic boosted research into areas such as mRNA, it had something of a chilling effect on M&A. As pharma companies begin to put the pandemic in the rearview mirror, M&A activity has gained momentum. 

Analysts upbeat on biopharma M&A activity in 2024

According to PwC, the M&A activity in the pharmaceutical and life sciences sector could continue humming in 2024. Despite a challenging interest rate environment, PwC projects the sector to see deal values ranging from $225 billion to $275 billion. Deal volume in 2023 was in line with pre-pandemic levels. …

Read more
  • 0

FTC approves Amgen-Horizon merger

The Federal Trade Commission (FTC) has signed off on Amgen’s proposed $27.8 billion purchase of Horizon Therapeutics . The acquisition, one of the largest pharma deals in recent years, is set to close in the early fourth quarter of 2022.

The agreement resolves an FTC lawsuit filed in May attempting to block the deal over antitrust concerns. FTC did not entirely let Amgen off the hook, however, as it is prohibiting Amgen from bundling two of Horizon’s top drugs — the thyroid eye disease therapy Tepezza (teprotumumab-trbw) and gout medicine Krystexxa (pegloticase). The agency also will require Amgen to get FTC approval before it acquires any products treating the same diseases as Tepezza and Krystexxa until 2032. The agency also set other requirements that will be in place for 15 years. State attorneys general agreed to dismiss their suits as part of the deal.

Amgen-Horizon merger announced in late 2022

Amgen said the deal with FTC would have no impac…

Read more
  • 0