Life Sciences Update : Third Quarter 2010
Deloitte Financial Advisory Services
This quarter’s Life Sciences Update, produced by Deloitte Financial Advisory Services, summarizes the most recent transactions along with information on the most active buyers, current transaction valuation multiples and an overview of the public market’s perception of the industry.
This quarter’s highlights
European life sciences M&A deal volume and median multiples increased in the LTM compared to 2009. During the last twelve months (LTM), the following market evolutions have been observed:
- 193 transactions have been announced, compared to 173 transactions for the year 2009;
- Total value of disclosed deals amounts to €27.1bn for the LTM against €17.6bn for the full year 2009 and €16.3bn for the full year 2008;
- 87 private equity backed transactions have been announced in the LTM against 68 in 2009. The total disclosed value of transactions amounts to €10.7bn compared to €4.6bn for the year 2009. Average value per disclosed deal in the LTM is €233m against €119m in 2009;
- Median transaction multiples significantly dropped from 12.0x EBITDA ratio in 2008 to 9.7x EBITDA ratio in LTM.
Download the Life Sciences Update below.