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Author: Jean-Claude Muller, 穆卓Executive Editor at BtoBioInnovation  jcm9144@gmail.com

SPECIAL REPORT 24.03

The Top 10 Biopharmaceutical M&A deals of 2023.

Every beginning of the year, Fierce Pharma issues a series of valuable reports addressing economic features in the biopharmaceutical industry. The one mentioned today relates to Mergers and Acquisitions (M&A) dealmaking for 2023 and is published under:

The top 10 biopharma M&A deals of 2023 | Fierce Pharma

We wish to focus on a few topics of interest to the field.

The value of the 10 top M&A deals of 2023 came to $115.8 billion far above the 2022 sum of $65 billion.

Four out of the ten major deals were announced in the month of December a strong indicator of renewed M&A activity at year end.

In 2023, the largest acquisition was the one of Seagen by Pfizer at $43 billion far below the ones of Bristol-Myers Squibb’s of Celgene for $74 billion in 2019 or AbbVie’s $63 billion buyout of Allergan in 2020.

.The field of Antibody-drugs conjugates (ADCs) was the star of the year which is reflected by the take over of Seagen by Pfizer, the acquisition of Immunogen by AbbVie for $10.1 billion and the strategic collaboration between Merck and Daiichi Sankyo’s technology for a potential consideration of up to $22 billion.

The field of Neuroscience also makes the scene with BMS’ Karuna buy for $14 billion, AbbVie’s acquisition of Cerevel Therapeutics for $8.7 billion and Biogen takeover of Reata for $7.3 billion.

Bristol-Myers Squibb made three major agreements collectively worth $23.9 billion.

Roche ‘s acquisition of Telavant for $7.1 billion was the only major deal from a European based company in 2023. This has already dramatically changed with the recent announcements in 2024 of GlaxoSmithKline’s agreement to acquire Aiolos Bio for $1.4 billion, Sanofi’s acquisition of Inhibrx for $2.2 billion, Novartis buy of Morphosys for $2.8 billion and Novo Holdings take over of Catalent, a major CDMO, for $16.5 billion.

Top 10 M&A Deals

1. Pfizer and Seagen (ADC platform). Deal value: $43 billion.
2. Bristol-Myers Squibb and Karuna Therapeutics (KarTX a first in class M1/M4 muscarinic receptor agonist for the treatment of schizophrenia). Deal value: $14 billion.
3. Merck and Prometheus Biosciences (PRA-023 a candidate for ulcerative colitis and Crohn’s disease and other autoimmune conditions). Deal value: $10.8 billion.
4. AbbVie and Immunogen (ADC platform). Deal value: $10.1 billion.
5. AbbVie and Cerevel Therapeutics (Emraclidine, a muscarinic M4 allosteric modulator for the treatment of schizophrenia and Alzheimer’s psychosis). Deal value of 8.7 billion.
6. Biogen and Reata Pharmaceuticals (Skyclarys for the treatment of neurological inherited Friedreich’s ataxia). Deal value: $7.3 billion.
7. Roche and Telavant Holdings (RVT-3101, a TLA1 antibody for the treatment of inflammatory bowel disease and Ulcerative colitis. Deal value: 7.1 billion.
8. Astellas and Iveric Bio (Izervay for the treatment of geographic atrophy (GA) an intraocular inflammation). Deal value: $5.9 billion.
9. Bristol-Myers Squibb and Mirati Therapeutics (Krazati, a KRAS G12C-mutated non small cell lung cancer treatment). Deal value: $4.8 billion.
10. Bristol-Myers Squibb and RayzeBio (Radiopharmaceutical platform for treatments of gastroenteropancreatic tumors, small cell lung cancer and hepatocellular carcinoma). Deal Value: $4.1 billion.

Paris, February 6, 2024

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