Abstract
After a year in which deals were few and far between, major drug firms made up for lost time in 2019. This year, big pharma companies brought back the megamerger, inking several mammoth deals that will reconfigure the industry ranks. They also made a slew of midsize purchases meant to add technology or bolster a key therapeutic portfolio. According to an analysis done by the investment firm SVB Leerink, global pharmaceutical merger and acquisition activity is on track to hit a 10-year peak in 2019. Leerink expects total transaction value for the year to reach or exceed $250 billion. Bristol-Myers Squibb kicked off the bustling year by announcing it would pay $74 billion to acquire Celgene in a deal designed to create a leader in cancer and immunology, areas where the companies have complementary drug portfolios. That deal led to another sizable one: in August, Celgene agreed to sell its
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