With Pfizer waiting on federal tax reform, a slew of pharma giants shaking their heads over biotech valuations and a few big players sticking to the sidelines without any clear explanation why, you already knew that biotech M&A was down. In a new assessment of the takeover scene, Bloomberg came up with this snapshot on global M&A to date. It’s worth noting, though, that these annual sums can shift massively overnight, with one or two big deals making all the difference. The year isn’t over yet, but this graph tells you a lot about what the M&A scene has looked like so far. And while there’s lots of support for tax reform, there’s absolutely no sign that the president and Congress can agree on much of anything these days.
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