At our recent European Life Sciences and Healthcare Symposium, Emmanuelle Trombe, Partner in McDermott's Life Sciences group, and Andreas Chrysostomou, Global Industry Leader for Healthcare & Life Sciences at Kroll, moderated a panel discussion on the aftermath of the unprecedented volume of transactions the Life Sciences sector enjoyed in 2021.
Eric Falcand, Vice-President, Business Development and Licensing, Servier; Cedric Moreau, Partner, Crossover Strategy, Sofinnova; Nawal Ouzren, CEO and Director at Sensorion; Frédérik Rothenburger, Partner, Lazard; and Pascale Witz, Global Healthcare Executive, agreed that 2021 had been an outlier rather than an indication of a dramatically upward trend. The perfect storm of a pandemic-driven focus on the value of the Life Sciences sector, and a market awash with cash thanks to a global stall in deal activity, generated a global investment spree.
The picture in 2022 is very different. The panel noted that a number of factors, including geopolitical tensions, high interest rates and inflation, and the US Federal Trade Commission challenging a number of transactions have conspired to reduce the capital available.
Despite being undeniably gloomy, the situation is not, however, entirely hopeless.
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