Pharma R&D has become an M&A game, and the Market is starting to overpay
Apr 22, 2026•by Hugo Rolland
What You Need To Know
Big Pharma is relying more heavily on acquisitions to replace lost in-house innovation, but rising deal premiums suggest the industry may be overpaying just to secure future growth.
Pfizer was the biggest company in the world by pharmaceutical sales in 2024.
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