The pharmaceutical industry has recently undergone a sea change: indeed, in H1 2018, the M&A transaction volume rose to 1893, that is an increase of 128 transactions compared to H1 2017. Transaction value went from da $209bn (H12017) to $238bn (H12018). China and the US dominated the market, and the main protagonist was Takeda, with a $62.3bn takeover. The second biggest acquisition was made by Procter & Gamble, which in April spent $4.2bn to buy Merck KGaA’s OTC unit. Moreover, in H12018 several deals were closed between companies producing cannabis for medical purpose. In this sense, the most remarkable example is that of Aurora Cannabis, which acquired Med Releaf (Canada) for CAD3.2bn. On the contrary, in Germany, whose market is the most dynamic in Europe, there was a trend reversal. Indeed, only 497 transactions were performed, for a value of $39bn, notably inferior to H12017, with 534 deals totally worth $66bn. The most important transaction was carried out between BASF and Bayer and was worth €5.9bn.
(Source: Process Vogel)