PwC sees continuation of US$ 5 to 15 Billion Bio M&A Deals"In 2022, we expect M&A investments to reach $350 billion to $400 billion, driven by all subsectors," PwC's Potter wrote in a recent report highlighting the broad appeal of M&A action in health care. "The continuation of the $5 billion to $15 billion biotech deals, combined with medium-sized pharma ($50 billion) and medical device ($25 billion) deals is expected to drive significant investment dollars in M&A."