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