Patent cliffs spark a new wave of pharma dealmaking
Originally Published 14 hours ago — by Financial Times
Pharma execs gathering for the JPMorgan healthcare conference expect a robust M&A wave as patent expirations threaten about 12% of industry revenue, with roughly $40bn in sales losing protection this year and about $180bn more going off patent in 2027–28. Big moves are already underway (Merck eyeing Revolution Medicines; Lilly buying Ventyx), and improved pricing-policy clarity under the current administration has lifted deal enthusiasm, pushing the S&P Biotech index to multi-year highs and fueling speculation of even larger consolidations amid a potentially friendlier antitrust environment.