Pharma goes on a spending spree, snapping up biotechs in a hurry

M&A activity has soared in the first half of the year

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Allison covers what hot startups are getting up to, and who’s financing them. She is also co-host of the weekly biotech podcast, “The Readout Loud.” You can reach Allison on Signal at AllisonDeAngelis.01.

Pharmaceutical companies are hungry to make deals, and they’re making more than they have in years.

In the past six months, there have been 32 biotech acquisitions valued at $1 billion or more. Pharmaceutical companies and even some large biotech companies have spent around $123 billion on these deals.