Big pharma spent £183bn on R&D, M&A and licensing deals in 2021. Huge though that figure is, it’s actually a slight dip in overall spend compared to the previous couple of years. Why a dip? Mainly it’s down to reduced deal making. Despite low valuations for many companies there’s been a distinct lack of bargain basement-style shopping activity. Meanwhile, overall R&D spend amongst the biggest players tipped over the $100bn mark for the first time.
In this eBook, we look at the top spenders in the big pharma space and consider which strategies show the strongest signs of paying off in the long term. We also ask what the $110bn dollars that the big 11 spent on share buybacks and dividends last year means for investor support and share price performance.
