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Oncology pharmaceutical mergers and acquisitions activity in the precision medicine era
Linjie Brian Wang1, Eric Parolin2, Zoey Chopra3
1Division of Hematology/Oncology, Department of Internal Medicine, University of Michigan, Ann Arbor, MI, USA.
Abstract:
Oncology is the biopharmaceutical industry's most active area for mergers and acquisitions (M&A) activity, reflecting both the scientific innovation and economics of precision medicines in the modern context. This review characterizes trends in 151 publicly disclosed pharmaceutical oncology M&A transactions between 2000 and 2019, showing that oncology dealmaking is increasingly concentrated among a small group of acquirers, that the bulk of acquisitions are of assets that are early in their development, and that deal structures increasingly emphasize milestone-linked and deferred payments. Together, these trends reveal how regulatory incentives, macroeconomic conditions, and productivity challenges have reshaped the scale and structure of oncology M&A in the precision-medicine era.
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