The largest medtech companies have differing business development strategies, but tend to be on the same page on R&D spending.
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.
Aduro finally runs up the white flag on Sting agonism, and becomes a listed shell for Chinook Therapeutics.
Alexion’s move on the anticoagulant reversal specialist is not the most intuitive deal – but is 2020’s second biggest so far.
Drug makers struck few M&A deals in the first quarter, but activity did not dry up, suggesting that the real impact of coronavirus has yet to play out.
Robotic surgery is one of the bright spots in an otherwise tricky year for medtechs seeking a buyer.
The $1.1bn that Lilly is paying for lebrikizumab looks low ball, but competing against Dupixent will not come cheap. And then there are the Roche payments.
Two megamergers meant that 2019 was always going to be a big year for biopharma M&A in dollar terms – and then came a late flurry of deals.