After M&A stretch, Pfizer CEO says company needs 'breathing period' from large deals https://t.co/SCLHo4FaT7
Pfizer to ‘Catch Our Breath’ on Deals After $43 Billion Purchase https://t.co/6SRklPGSUU
Pfizer to ‘catch our breath’ on deals after $43B purchase https://t.co/Bs633nea69
After defying the biggest dealmaking downturn in a decade, Big Pharma is taking a breather. Pfizer CEO Albert Bourla announced that the company is pausing big acquisitions after spending $43 billion last year to acquire Seagen. This comes after a $50 billion deal streak at the end of last year, despite overall biotech M&A being down. However, the value of deals involving private biotechs has surged by almost 200%, according to Bloomberg data. Bourla emphasized the need to 'catch our breath' from large deals.
