Big drugmakers have started 2023 with their checkbooks out, signing several multibillion-dollar takeovers in what some industry insiders see as the start of an M&A surge focused on snagging blockbuster drugs. The upswing in deals follows a year of falling stock prices and startups that have struggled to access private capital. Those two trends are related: The drawdown has pulled down valuations to reasonable levels at a time when pharma giants have cash and need to reload their pipelines. As Jefferies analyst Michael Yee summed up in a recent note to investors: “Lower valuations and hungry pharma.”
Read the full article: A ‘Blistering’ Start to Pharma M&A in 2023 Stokes Hopes of a Market Rebound, as Insiders Predict a Surge in Deals //
Source: https://endpts.com/biotech-ma-gets-off-to-a-blistering-start-in-2023-as-insiders-predict-surge-in-deals