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Dealmaking Quarterly Statistics, Q3 2020

A Look At M&A And Alliance Activity Across The Biopharma, Medical Device And In Vitro Diagnostics Industries, July-September 2020

 
• By Deanna Kamienski and Maureen Riordan

During Q3 biopharmas reached $41.7bn in merger and acquisition value and drew in $44.4bn in potential deal value from alliances. Device company M&A values reached $17.9bn while in vitro diagnostic firms and research tools players completed M&A activity that totaled $8.2bn.

Quarterly Stats_1200x675

Biopharma merger and acquisition value for the third quarter of 2020 reached $41.7bn, more than seven times Q2’s $5.9bn (see Exhibit 1). At the top (making up half of the Q3 total), was Gilead Sciences Inc.’s definitive agreement to acquire Immunomedics Inc. for approximately $21bn. Even if we take out that outlier, third quarter M&A still showed a significant increase over Q2. Where there were only two M&A transactions to hit the billion-dollar mark in Q2 (Novo Nordisk AS’s $2.1bn buy of private US biotech Corvidia Therapeutics and Alexion Pharmaceuticals Inc.’s buy of fellow public biotech Portola Pharmaceuticals Inc.), Q3 saw five such deals, four involving big pharma.

Through the Gilead/Immunomedics transaction, which is expected to close in Q4 2020, Gilead gains Immunomedics' Trodelvy (sacituzumab govitecan), making it...

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