In a notable shift for the Life Sciences sector, major pharmaceutical companies have once again started engaging in large-scale mergers and acquisitions (M&A), with a total investment of $191 billion by December 10, 2023.

This represents a 34% increase in M&A investments compared to the previous year, despite a 6% decrease in the number of transactions, which amounted to 118.

The substantial value of these deals indicates a renewed willingness among key players to pursue ambitious M&A strategies.

The acquisition of Seagen by Pfizer for $43 billion stands out as the largest deal of the year, contributing to the resurgence of Big Pharma.

In 2023, Big Pharma accounted for 69% of M&A investments, a significant increase from 38% in the previous year.

This trend reflects the industry's response to ongoing revenue pressures and the upcoming loss of exclusivity for several blockbuster drugs, leading to a strategic focus on external growth opportunities.