Mergers and acquisitions across the pharmaceuticals and life sciences sector will reach a “healthy” level next year, with deals totaling $225 billion to $275 billion, according to professional services firm PwC’s new US Deals 2024 Outlook report.
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A downward spiral has continued into 2023, with many good companies laying off employees and shuttering promising clinical programs as they’ve tried to keep the lights on until the dark times are behind us and they again have access to capital. In the midst of such hardships, few companies have chosen to go public.
Initial public offerings by small private biotech companies are poised to stage a comeback later in 2023 as the pace of interest rate hikes slows, but tougher economic conditions will make investors more inclined to pick firms which have drugs in human trials.