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Randi Hernandez was science editor at BioPharm International from September 2014 to May 2017.
M&A transactions accounted for nearly $15 billion more this year than for the same period a year ago.
Burrill Media reports that although high-value deals have been canceled as a result of new tax inversion rules, total transactions in the life-sciences sector have reached $253.3 billion in the first 10 months of 2014. M&A transactions specifically have reached $20.5 billion, up from $4.8 billion for the same period last year.
According to G. Steven Burrill, CEO of Burrill Media, AbbVie’s decision not to go through with the deal with Shire is a sign that the tax inversion rules are working as intended, “The continued strength of M&A activity suggests that companies are able to see significant opportunities to create value through acquisitions without relying on tax benefits to drive them.”
Cancer immunotherapies were at the center of global partnership activity with deals in this field totaling $5.5 billion in October 2014, up from $3 billion at the same time last year. The biggest deals related to immunotherapies were Genentech’s license with NewLink Genetics and Celgene’s collaboration with Sutro Biopharmaceuticals.
Source: Burrill Media