Biotechnology deal activity slid further in the third quarter, down 22% to 42 transactions, compared with the second quarter’s 54 transactions. The total represents 19% of the 217 deals announced in the previous 12 months.
Ten of the largest deals announced in the third quarter broke the $1.0 billion mark, for a total of $29.9 billion (70% of the quarter’s total spending of $42.7 billion).
The dog days of summer weren’t really all that hot, here in the Northeast. Neither was August’s deal volume. Although it’s preliminary data, the 102 deals posted in August equalled the total in July. Compared with the same month in 2016, that represents a 22% slide in deal volume.