Major M&As Announced Recently - Late 2023 / Early 2024

The year 2024 continues to see significant mergers and acquisitions (M&A) activity in the biopharma sector.

Here's a breakdown of 17 major deals announced in late 2023/early 2024, including acquisition prices and key details. 👇

Mirati Therapeutics 

Acquired By: Bristol-Myers Squibb

Acquisition Date (Closed): Jan. 23, 2024

Acquisition Price: $4.8B

ImmunoGen 

Acquired By: AbbVie

Acquisition Date (Closed): Feb. 12, 2024

Acquisition Price: $10.1B

Icosavax 

Acquired By: AstraZeneca (AZN)

Acquisition Date (Closed): Feb. 19, 2024

Acquisition Price: $1.1B

Karuna Therapeutics 

Acquired By: Bristol-Myers Squibb

Acquisition Date (Closed): Mar. 18, 2024

Acquisition Price: $14B

RayzeBio 

Acquired By: Bristol-Myers Squibb

Acquisition Date (Closed): Feb. 26, 2024

Acquisition Price: $4.1B

Gracell Biotechnologies 

Acquired By: AstraZeneca (AZN)

Acquisition Date (Closed): Feb. 22, 2024

Acquisition Price: $1.2B

Ambrx Biopharma  

Acquired By: Johnson & Johnson

Announcement Date: Jan. 8, 2024

Acquisition Price: $2B

Acquisition Date (Closed): Mar. 7, 2024

Harpoon Therapeutics 

Acquired By: Merck

Acquisition Date (Closed): Mar. 11, 2024

Acquisition Price: $680M

Aiolos Bio  

Acquired By: GSK 

Announcement Date: Jan 9, 2024

Acquisition Price: $1B

Acquisition Date (Closed): Feb. 15, 2024

Inhibrx 

Acquired By: Sanofi

Announcement Date: Jan. 23, 2024

Acquisition Price: $1.7B

Acquisition Date (Closed): Pending

Lead Asset: INBRX-101 

Stage: Phase 2

Indication: Severe alpha-1 antitrypsin deficiency (PiZZ)

Morphosys  

Acquired By: Novartis

Announcement Date: Jan. 5, 2024

Acquisition Price: $2.9B

Acquisition Date (Closed): Pending

Lead Asset: Monjuvi (Tafasitamab) 

Stage: Approved

Indication: Various Cancers

Catalent  

Acquired By: Novo Holdings 

Announcement Date: Jan. 5, 2024

Acquisition Price: $16.5B

Acquisition Date (Closed): Pending

Cymabay Therapeutics  

Acquired By: Gilead Sciences 

Announcement Date: Feb. 12, 2024

Acquisition Price: $4.3B

Acquisition Date (Closed): Mar. 22, 2024

Amolyt Pharma  

Acquired By: AstraZeneca 

Announcement Date: Mar. 14, 2024

Acquisition Price: $1.05B

Acquisition Date (Closed): Pending

Lead Asset: Eneboparatide (AZP-3601) 

Stage: Phase 3

Indication: Hypoparathyroidism

Fusion Pharmaceuticals  

Acquired By: AstraZeneca 

Announcement Date: Mar. 19, 202

Acquisition Price: $2.4B

Acquisition Date (Closed): Pending

Lead Asset: FPI-2265

Stage: Phase 2/3

Indication: Prostate cancer

Shockwave Medical  

Acquired By: Johnson & Johnson 

Announcement Date: Jan. 23, 2024

Acquisition Price: $13.1B

Acquisition Date (Closed): Pending

Alpine Immune Sciences  

Acquired By: Vertex Pharmaceuticals 

Announcement Date: Apr. 10, 2024

Acquisition Price: $4.9B

Acquisition Date (Closed): Pending

Lead Asset: Povetacicept (ALPN-303)

Stage: IgA nephropathy

Indication: Phase 3

Figure 1. Biopharma M&A Activity (late 2023/early 2024).

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Article History:

RF, DV (04/20/24)

This article is not investment or legal advice.