Q1 2015 Global Pharma, Medical & Biotech Trend Report
Mergermarket has released its Global Pharma, Medical & Biotech (PMB) trend report for the first quarter (Q1) of 2015. Take a look at the full report HERE.
A few key findings include:
After a record year in 2014, an increase in global PMB M&A activity compared to Q1 2014 was held up with the support of the US. Deals totaled US$ 90.8bn in Q1 2015, increasing 64.4% compared to the same period last year (US$ 55.3bn). The first quarter reached the second highest valued Q1 on record, after Q1 2009 (US$ 164.1bn), driven by three mega-deals (>US$ 10bn) totaling US$ 152.5bn.
The Q1 increase compared to the start of 2014 was driven by a burst of activity in the Pharma sub-sector which saw a huge 117.8% increase by value with 15 more announcements, and marking the highest Q1 value in six years. Pharma saw 79 deals worth US$ 72.9bn compared to Q1 2014’s 80 deals worth US$ 33.5bn, accounting for 80.3% of total PMB M&A value in Q1 2015. It was also the target of all the top five deals for the PMB sector totaling US$ 58bn.
The US was the primary driver for the influx of Pharma M&A, accounting for 73.6% of the global PMB value with US$ 66.8bn-worth of deals. The US$ 78.3bn worth-of deals announced targeting the US PMB sector during Q1 2015, was actually the second highest Q1 value on Mergermarket record, after Q1 2009. As the country continues to command a high level of activity, the average EBITDA multiples jumped to 33.9x in Q1 2015, up from 13.9x in Q1 2014.
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