INFOGRAPHIC: Deal volume for both M&A and alliances fell in 2023, but average valuations rose appreciably. Antibody-drug conjugates for cancer drove high-value acquisitions and partnerships.
In both M&A and alliances, 2023 saw lower deal volume but higher deal valuations • Source: Shutterstock
While Pfizer Inc.’s acquisition of Seagen Inc. in March did not set off a wave of mega-mergers, and overall deal volume was down in both mergers-and-acquisitions and alliances in 2023, the valuations did trend higher – even excluding the $43bn Pfizer/Seagen merger.
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Without a mega-merger like 2023’s Pfizer/Seagan takeout, M&A deals grew smaller during the first half of 2024, while volume rose. In alliance deals, H1 2024 activity somewhat mirrored activity from H1 2023.
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