Biopharma Quarterly Dealmaking Statistics, Q1 2020

A Look At Financing, M&A And Alliance Activity January-March 2020

During Q1, biopharmas brought in an aggregate $13.8bn in financing. M&A value reached $6.9bn, the majority from Gilead Sciences $4.9bn purchase of immuno-oncology firm Forty Seven. Alliances fetched $35bn in potential deal value, dominated by many Big Pharma tie-ups led by a $4bn discovery and development collaboration between AstraZeneca and Silence Therapeutics for siRNA therapeutics.

Quarterly Stats_1200x675

First quarter 2020 financing reached $13.8bn, mostly from follow-on public offerings, which garnered $5.3bn or 38% of the Q1 total (see Exhibit 1). The FOPO group included 17 $100m-plus transactions (with an average deal value of $123m) capped off by large public offerings by life sciences contract research organization (CRO) Catalent Inc. (drug delivery and manufacturing of pharmaceuticals, biologics, and consumer health products) [See Deal] and messenger RNA (mRNA) therapies and vaccines developer Moderna Inc. [See Deal], which respectively netted $493.9m and $478.75m. Catalent expects to spend approximately $330m of these proceeds on its concurrent $315m acquisition of cell therapy contract development and manufacturing organization (CDMO) MaSTherCell Global Inc. [See Deal], and with the rest plans to pay down $100m in debt. Shortly following its FOPO, Catalent also raised €825m ($903.4m) in a separate debt financing [See Deal].

By Deal Type

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