After circling around the crop of biotechs ripe for a takeover, Big Pharma companies have finally decided to strike. Merck & Co. made the first jab, taking Prometheus Biosciences and its bowel disease candidate in a $10.8 billion transaction Sunday. Then GSK struck Tuesday, offering $2 billion for Bellus Health to challenge its fellow pharma dealmaker in the cough market. The two deals are a long-awaited sign of green shoots in the industry, adding to a fairly short list that includes Pfizer’s $43 billion acquisition of Seagen and Amgen’s $27.8 billion buy of Horizon Therapeutics. Moody’s Investor Services thinks these are just the start, with M&A activity expected to remain high over the next year to 18 months.
Read the full article: Big Pharmas Finally Strike with GSK, Merck Acquisitions, Signaling Accelerating Pace of M&A //
Source: https://www.fiercepharma.com/pharma/big-pharmas-finally-strike-gsk-merck-acquisitions-signaling-accelerating-pace-ma