Conditions look ripe for an uptick in M&A this year after a fairly quiet 2022, while other types of strategic deals are also expected to increase in the face of a challenging funding situation for biotech. “From an M&A perspective, we are expecting deal volume to increase in 2023 with corporate-led M&A leading the way,” said Andrew Harrow, a partner in Life Sciences group, to Scrip Intelligence UK. He went on: “Biopharma valuations have fallen, both in the private and public markets, and pharma companies are still sitting on plenty of cash; further, the need to fill their product pipelines remains. All of this, and the fact that the capital markets are still probably not a viable alternative option for most companies, should lead to an increase in M&A activity across the market.”