Biotechs saw fewer, but big-value acquisitions in 2010
Fewer merger and acquisition deals in the biotechnology industry in 2010 did not drag the total M&A dollar amounts down with it, according to Deal Search Online.
Biotech saw 115 M&A deals reported last year – 78 fewer, or 40 percent less, than 2009 – but those deals amounted to $57.5 billion, a 21 percent increase over 2009. Though the report, taken from an Irving Levin Associates M&A database, shows that buyers were willing to spend more in deals, the higher average of 2010’s M&A deals was largely due to Genzyme Corp.’s acquisition by sanofi-aventis SA launched in 2010 and completed earlier this month for a massive $20 billion. The $20 billion was larger than yearly M&A totals in 2002, 2003 and 2004, and the second highest deal in the last 10 years; Roche Holding AG spent $46.8 billion in 2008 to buy the remaining interest in Greentech.