US Pharma M&A activity has yet to show any signs of a slowdown after the $8.1bn exit of Par Pharma by TPG to Endo was announced on Monday. The US Pharma industry has seen 39 deals valued at US$ 77.3bn to-date, three more deals announced compared to YTD 2014 and with a 36.5% higher deal value.
The country’s Pharma sector is commanding EBITDA multiples at 64.1x, a leap from just 13.8x this time in 2014.
Growing share from exits
So far this year, 13 exits of Pharma companies account for a third of all US Pharma M&A deals (39).By deal value, the US$ 14.5bn-worth of deals is already the highest annual total for exits in the sector on Mergermarket record, up 147.8% from 2014.
The exit value takes an 18.8% share of all US Pharma M&A transactions so far this year, up from just 6.8% in the whole of 2014, and the highest since 2010.