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2022 was a shaky year for M&A deals in the pharmaceutical and life sciences sector, as PwC recently surmised. That’s not surprising, given the recession fears and inflation themes common throughout the year.
That said, Amgen (Nasdaq:AMGN) and Pfizer bucked the trend by spending 11-figure sums on M&A deals. Bristol Myers Squibb, Biocon Biologics and GSK also had sizeable acquisitions.
Here are ten M&A deals in 2022 worth at least $1 billion.
1. Amgen to pay $27.8 billion for Horizon Therapeutics
Amgen agreed to pay $116.50 per share for Horizon Therapeutics (Nasdaq:HZNP) for a total of $27.8 billion, marking the biggest biopharma deal of the year. In 2021, Horizon had $3.23 billion in revenue, marking a 47% increase over the previous year. Horizon also discussed a potential acquisition deal with Janssen Global Services and Sanofi before deciding to merge with Amgen. Horizon Therapeutics’ board unanimously agreed to the deal terms from Amgen.
2. Pfizer acquired Biohaven Pharmaceuticals for $11.6 billion
In May, Pfizer agreed to acquire Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), whose best-known product is the dual-acting migraine therapy Nurtec ODT (rimegepant). Nurtec had $462 million in revenue in 2021 and could have international annual sales of $2 billion in global sales by 2026. Biohaven is also pursuing U.S. commercialization of zavegepant, an intranasal spray for the acute migraine treatment that could win FDA approval in 2023.
3. Pfizer purchased Global Blood Therapeutics for $5.4 billion
In October, Pfizer finalized its Global Blood Therapeutics (GBT) acquisition for $68.50 per share, or roughly $5.4 billion. The deal gives Pfizer access to GBT’s portfolio of drug candidates for sickle cell disease (SCD).
4. BMS picked up Turning Point Therapeutics for $4.1 billion
Bristol Myers Squibb (NYSE:BMY) announced in June that it would purchase Turning Point Therapeutics (Nasdaq:TPTX) for $76.00 per share.
5. Amgen bought ChemoCentrix for $3.7 billion
In August, Amgen (Nasdaq:AMGN) said it would buy the San Carlos, California–based ChemoCentryx (Nasdaq:CCXI) for $52 per share in cash, which translates to roughly $3.7 billion total.
6. Biocon Biologics to spend $3B to acquire Viatris’ biosimilars business
Bengaluru, India–based Biocon Biologics Ltd., a division of Biocon Ltd. (BSE code:532523) (NSE: BIOCON), announced in late November that it had purchased the biosimilars business of Viatris (Nasdaq:VTRS). Biocon agreed to pay Viatris $2 billion upfront and another $1 billion in compulsorily convertible preference shares.
7. GSK acquired Affinivax for $2.1 billion
GSK (LSE/NYSE:GSK) finalized its acquisition of the privately-held biopharma Affinivax in August. Cambridge, Massachusetts–based Affinivax has established a vaccine technology platform called Multiple Antigen Presentation System (MAPS) that is designed to elicit a strong B-cell and T-cell immune response.
8. GSK to purchase Sierra Oncology for $1.9 billion
In April, GSK (LSE/NYSE:GSK) reached a deal to purchase Sierra Oncology (Nasdaq:SRRA) to bolster its oncology pipeline. Sierra believes its investigational novel JAK inhibitor momelotinib could address the unmet medical needs of myelofibrosis patients with anemia.
9. Sumitovant Biopharma to acquire Myovant for $1.7 billion
In early October, Myovant rebuffed an offer to acquire Sumitomo Pharma subsidiary Sumitovant Biopharma for $1.5 billion. Before the month was over, however, Myovant had agreed to let the company acquire it for $1.7 billion. Sumitomo already owned more than half of Myovant, which has a total company value of $2.9 billion.
10. Novo Nordisk to purchase Forma Therapeutics for $1.1 billion
Novo Nordisk announced on September 1 that it would acquire Forma Therapeutics Holdings (Nasdaq:FMTX) for $1.1 billion. Forma, a clinical-stage biopharmaceutical company, specializes in developing treatments for sickle cell disease and rare blood disorders.