Q1-2023 Pharma Services Update
Despite an uncertain macroeconomic environment, recessionary fears, the war in Ukraine, and the impact of rising interest rates, M&A activity in pharma services displayed strong resiliency Q1-23, mostly led by add-on acquisitions to existing platforms. Investors remain attracted to the long-term tailwinds driving growth across outsourced pharma services including reducing costs, technological advancements, access to value-added specialty services. Certain therapeutic areas, oncology and CNS diseases for example, will likely remain popular due to a robust pipeline of R&D activity.
Provident expects M&A activity to rebound in the second half of 2023 as companies look to fill the potential growth gap from the $100B in patents set to expire by 2030.
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