The Pharma Letter M&A roundup - August 2023
A sizeable sum in excess of $7.75 billion was spent across pharmaceutical M&A in August.
Among big pharma's big spenders were Novo Nordisk (NOVN: VX) and Gilead Sciences (Nasdaq: GILD), though the month's biggest deal was US health care tech conglomerate Danaher Corp's (NYSE: DHR) $5.7 billion buy of UK antibody research expert Abcam (AIM: ABC).
There were also some intriguing acquisitions during August. US drugmaker EQRx was founded on the principle of developing and delivering innovative medicines to patients at radically lower prices, but that ambition appears dead and buried now that the struggling firm is to be acquired by oncology drug developer Revolution Medicines (Nasdaq: RVMD). Japan's Otsuka Pharmaceuticals (TYO: 4578) also became the first sizeable pharma company to take a bite out of the emerging psychedelic medicines sector with its buy of Mindset Pharma.
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