Biopharma deal-making in 2024 saw some interesting changes. Despite a slight dip in alliance volume, biopharma achieved a potential deal value of $191.9 billion across 690 alliances – an increase of $5 billion in 2024 compared to the previous year. Oncology stood out once again as the most active therapeutic area.
M&A, however, painted a different picture. With a total value of $79.4 billion, M&A activity reached only about half of 2023’s total. Yet, excluding four mega-deals from 2023, the numbers from both years start to look more comparable. Deal volume, in fact, saw a slight rise.
Meanwhile, financing in biopharma was on the upswing, with $88.6 billion raised – a 19% increase in value and a 13% rise in deal count over 2023.
Our latest Deal-making Roundup takes a closer look at these trends, breaking down the data across deal types, therapy areas, and financing structures. It also highlights the top deals by dollar value in each space.
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