Pharmaceutical M&A got a late-year shot in the arm, with nearly $10 billion in deals being announced involving major industry players like AstraZeneca and Bayer as 2013 came to a close.
In the largest pharma deal this month, AstraZeneca has agreed to pay up to $4.1 billion to Bristol-Myers Squibb for a stake in an alliance to jointly develop diabetes drugs. The terms call for AstraZeneca to pay $2.7 billion up front, with the ultimate value of the deal potential rising to $4.1 billion once certain regulatory and royalty benchmarks are met.
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