RE:RE:RE:PwC sees continuation of US$ 5 to 15 Billion Bio M&A Deals" “We expect 2023 to be an active year for deal making – maybe not straight M&A but collaborations and partnerships,” he says. “Watch for the bolt-ons, watch for the alliances – and never say never to the mega-merger.”
As Horizon showed, these bolt-ons can still amount to a lot of money. Even Astrazeneca’s $39bn move on Alexion should probably be described as a bolt-on, given that the target company was essentially based around a single franchise
https://www.evaluate.com/vantage/articles/insights/ma/biopharmas-bolt-bonanza-set-continue