pfizer

Get ready for more merger mania in the pharma sector for the rest of the year

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Pfizer Inc.’s PFE, -0.25% $5.4 billion acquisition of Global Blood Therapeutics Inc. GBT, 0.24% is the latest sign that cash-flush drug makers are ready to jump back into dealmaking.

That deal was announced just days after Amgen Inc. AMGN, 0.86% said it plans to buy ChemoCentryx Inc. CCXI, 0.22% for $3.7 billion in cash and amid media reports that Merck & Co. Inc. MRK, -0.89% is making plans to buy Seagen Inc. SGEN, -0.32% for about $40 billion.

“We see strong underlying reasons to expect a big increase in deal activity. Whether or not prospective big deals like Merck’s rumored acquisition of Seagen close, we have already seen certain Big Pharma players returning to M&A in the second quarter of 2022,” Subin Baral, EY’s global life sciences deals leader, said in an email. “We anticipate that this trend will continue.” read more

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