Crossborder acquisitions contributed majority of the deal value
The industry reported 66 deals worth $22.9 billion in April 2018, as compared to five months average of 59 deals worth $14.9 billion. Crossborder acquisitions contributed majority of the deal value, with three cross-border acquisitions worth $15.3 billion taking place in April 2018.
The biggest cross-border acquisition was Novartis’ proposal to acquire AveXis, a gene therapy company, for the purchase consideration of $8.7 billion to expand its position in the gene therapy and neuroscience sectors; another prominent cross-border deal was from Procter & Gamble, which proposed the acquisition of consumer health business from Merck for $4.2 billion to expand its consumer healthcare business.
The industry reported 51 venture capital (VC) deals worth $1.7 billion in April 2018, as compared to five months average of 79 deals worth $1.7 billion. Some of the major deals announced in in April 2018 include: Allogene Therapeutics raising $300 million in series A financing; additionally, Innovent Biologics and Constellation Pharma raising $150 million and $100 million financing, respectively.