2023 biopharma M&A activity numbers down but more topping $1 billion mark

4 January 2024

By Barbara Obstoj-Cardwell. Editor

In full year 2023, the total number of mergers and acquisitions (M&A) in the pharma and biotech sectors was 105, compared with 109 in 2022 and just 92 in 2021, according to tracking by The Pharma Letter (TPL).

Of the total, there were 29 deals with a value that exceeded $1 billion, while last year the total was just 17. By far the largest transaction in 2023 was Pfizer’s (NYSE: PFE) $43 billion buy of Seagen which, though announced in the spring, only completed in December.

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