Could M&A deals boost biotech performance in 2023?
By Séverine Piot-Deval, Healthcare Fellow, Hedder
During the 2023 JP Morgan Healthcare Conference, the most important venue of the sector, three M&A deals were announced, raising expectations for a return of industry consolidation and much-needed support for biotech companies.
By the end of February, six deals had been announced globally, for a rather small total of $4.3 billion. Then came the announcement on March 13 that Pfizer (NYSE: PFE) will acquire the cancer-focused biotechnology company Seagen (Nasdaq: SEGN) for $43 billion.
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