If the first quarter was quiet for takeovers the second saw M&A grind to a halt. What can the matter be?
The first quarter of 2021 saw fewer deals than any in recent memory.
It takes more than a pandemic to stop medical device companies merging.
One of the biggest surprises of 2020 was how biopharma M&A emerged relatively unscathed from Covid-19.
A global pandemic has done nothing to crimp M&A premiums, with acquirers forced to swallow ever higher price tags.
A few multi-billion-dollar deals got done in the third quarter, but 2020’s acquisition scene still looks anaemic.
Second-quarter deal values plummeted as Covid-19 spread and the prices of target companies spiralled.
2019 was an average year for medtech M&A. 2020, not so much.
The number of novel, pivotal-stage projects in big pharma pipelines has plunged – just as Covid-19 put the brakes on deal making.