JD Supra June 29, 2020
The megadeals of 2019 may be off the table for now, but deal activity across healthcare and pharmaceuticals has proven resilient through the COVID-19 crisis
Although pharma, medical and biotech (PMB) M&A deal value for Q1 2020 came in at US$39.3 billion, 78% below the year before, this was primarily due to the outsized US$87.8 billion deal between Bristol-Myers Squibb and Celgene in early 2019.
The strategic importance of well-funded healthcare infrastructure has been emphasized as the COVID-19 virus has spread. The S&P 500 Healthcare Index has lost no value in 2020 and is close to 15% above the value in the previous 12 months. This reflects the value investors see in the long-term prospects for the sector and its...