First-quarter deal value in pharmaceuticals and life sciences reached the highest level since 2020, driven by large acquisitions.
Pharmaceutical and life sciences mergers and acquisitions totaled $65 billion in the first quarter, the strongest start to a year since 2020. The quarter included 16 deals valued at $1 billion or more, signaling a robust rebound in sector dealmaking.
Recent transactions underscore the trend, with Sun Pharmaceuticals agreeing to acquire Organon for $11.75 billion in April and AbbVie announcing a $10.9 billion purchase of Apogee Therapeutics in June. Many acquisitions target biotech firms specializing in gene editing and advanced therapies, often at premiums to current stock prices.
Biotech stocks such as Legend Biotech (NASDAQ: LEGN) and BioNTech (NASDAQ: BNTX) have drawn attention as potential takeover candidates, with Legend’s commercial therapy Carvykti positioning it as a standout target in oncology.