M&A is down, but PwC predicts an active 2nd half for deals

In a new report covering the first half of the year, the professional services firm acknowledges there’s been a slow start to deal activity. But Big Pharmas are flush with cash—especially those that managed to tap into the COVID-19 market—biotech valuations are finally starting to normalize and many large companies face patent cliffs and are in need of new assets to bulk up their pipeline. All of this spells a second half that should be rich with deals.