So far, there have been 484 deals in 2019, up from 365 in 2018. That’s higher than any year since 1995, when Dealogic, a financial markets platform, began tracking deals.
In 2018, companies spent $97 billion on M&A. The previous record was $215 billion in 2016.
Boosting this year’s numbers is a trend of large, legacy drugmakers buying drugs from other companies rather than developing drugs themselves, according to MarketWatch. For example, in August Amgen bought Celegene’s drug, Otezla, a psoriasis treatment, for $13.4 billion.
Deals in which drugmakers purchased a drug from another company have totaled $56 billion so far in 2019, compared to the previous five-year average of $46 billion.
This year also has seen several megamergers, such as AbbVie acquiring Allergan and Bristol-Myers Squibb acquiring Celgene.
Read the full article here.
More articles on pharmacy:
UnitedHealth to acquire struggling specialty pharmacy
Pharmaceutical layoffs up nearly 6% from last year
Larger chunk of hospital drug spending going toward cancer treatments, study finds
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.