Thank you Walk...Here is the summary Key Findings
Worldwide biopharma M&A volume of completed and announced deals (including contingent payments and asset deals) reached a record of $254 billion in 2019 (as compared to $155 billion in 2018 and $76 billion in 2017).
The two mega-deals, BMS/Celgene ($74 billion) and Abbvie/Allergan ($63 billion) got most headlines in 2019 with the acquisition of Celgene by BMS being the third largest pharma acquisition in history.
US biopharma deal activity was very strong with 12 $1-billion-plus deals closed in 2019 and another 5 such deals announced. European deal volume (outside of the $63 billion Abbvie/Allergan transaction) was only around $10 billion.
As in previous years, M&A transaction volume outside of the US and Europe in 2019 was modest with a transaction volume of only $5.4 billion.
Premiums paid in 2019 for public companies reached an average of almost 100%, demonstrating the continued appetite for companies with new products in development or on the market.
Return multiples to VC investors from M&A stayed at high levels in 2019 but did not reach the values of previous years.
VC-backed company trade sales in oncology dropped in number and deal volume, whereas non-oncology orphan companies generated one third of transaction volume.