July round-up of pharmaceutical and biotech M&A activity

With July having drawn to a close, we are fast approaching the end of summer and the final third of the calendar year. There were a handful of small and intriguing deals, but the dizzy January days of frantic M&A activity seem a long time ago.

Not a single deal brokered in July is worth $1 billion or more, with the potential exception of PTC Therapeutics' (Nasdaq: PTCT) acquisition of Agilis Biotherapeutics, depending on milestones. This move marks a commitment on behalf of the US biotech to stay at the cutting edge of combatting rare and genetic diseases.

Perhaps the most disappointed to not have hit the $1 billion threshold, from the seller point-of-view, may be Bayer (BAYN: DE). Though the sum privately-held Leo Pharma has paid for its skincare porfolio is undisclosed, patent expiries have made their assets less desirable than they would have been two years ago, when the German company was unable to solicit the 10-figure fee it had hoped for.