Michael Jewell, partner and head of healthcare & life sciences at Cavendish Corporate Finance looks back at the key trends across pharma industry funding in 2019 and gives his perspective on how 2020 will look.

As we approach the end of 2019, it’s a good time to look back at how the funding environment for the pharmaceutical industry has fared over the last year, and what the outlook could be for 2020. The most striking thing is that M&A in the pharma industry remained vibrant throughout 2019 despite a global downturn across most other sectors. In fact, in terms of deal value it actually increased, with the top ten transactions announced in the first six months of this year reaching a total value 47 percent higher than the top ten deals in the first half of 2018. Indeed, the last five years have seen more than 400 mergers and acquisitions taking place across the pharma industry, particularly in the fields of gene therapy, immuno-oncology, microbiome, and orphan drugs therapeutic categories.

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