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Life Sciences Update: First Quarter 2013

Deloitte Corporate Finance LLC


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This quarter’s Life Sciences Update, produced by Deloitte Corporate Finance LLC (DCF), summarizes recent transactions within this industry along with information on active buyers, current transaction valuation multiples and an overview of the public market’s perception of the industry.

Highlights include:

  • M&A activity in the Life Science space continued its downward trend amidst uncertainty in broader economic environment caused by change in tax code, the U.S. Affordable Care Act, and U.S. government sequestration.
  • Many pharmaceutical industry participants are relying on investing in biological drugs to replace revenue generated by drugs coming off patent.
  • Source of pressure or opportunity: U.S. medical device 2.3% excise tax continues as an “overhang” to the industry, although contract manufacturers may ultimately benefit.
  • Reduced government spending on reimbursement rates for diagnostic equipment end users may impact industry revenues however this may be offset by the increased patient population due to health care reform.

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