Biopharma Deal-Making In 2011: A Year Of Transition
Executive Summary
Approvals jumped, venture retrenched and dealmakers expanded on 2010’s creativity. Pharma’s thirst for payer-friendly innovation and emerging markets infrastructure pushed M&A valuations skyward, and threw VCs and drugmakers closer together. The year 2011 was also when we said goodbye to Lipitor, hello to the euro crisis, and “see you soon” to biosimilars.