The Pharma Letter M&A roundup - May 2023

7 June 2023

Plenty of money was spent in biopharma M&A during May, but big pharma was not necessarily the one doing the spending.

Smaller drugmakers adding to their pipelines and reverse mergers also accounted for most of the deals during the month, albeit Japanese pharma major Astellas (TYO: 4503) did announce a sizeable buy of USA-based biotech firm Iveric Bio.

Overall spending in 2023 is well ahead of the three previous years at this point, largely due to Pfizer's (NYSE: PFE) $43 billion acquisition of Seagen, which was announced in March and continues to make the US drug giant by far the biggest big pharma spender of the year so far.

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