The Pharma Letter M&A roundup - February 2024

1 March 2024

Matching January's explosive start to 2024 in pharmaceutical M&A was always going to be difficult during February, and by deal volume, the month fell well short of its predecessor.

But the total spent during February far exceeded the prior month. Novo Holdings's $16.5 billion acquisition of US contract development and manufacturing organization Catalent was the main reason for this, though Gilead Sciences (Nasdaq: GILD) and Novartis (NOVN: VX) also spent heavily on deals during the year's second month.

Our table below show the month's activity, along with a comparison of how the year's cumulative spending stacks up alongside recent years, and a graph on which leading pharma companies are investing most in M&A during 2024.

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