Irish Life Sciences: Shift to Smaller M&A Deals in 2024
Deal News | Feb 14, 2025 | EIN
The Irish life sciences sector experienced a significant increase in M&A activity in 2024, with a reported 19 deals involving Irish companies, a 171% rise from the previous year. However, the combined deal value substantially dropped by 86% to 198 million, due to a lack of larger transactions compared to the preceding year, which included the notable 1.3 billion sale of Amryt Pharma to Chiesi Farmaceutici. Notable acquisitions include Cork-based Rowex Ltd by Sandoz and Modular Automation Ireland by Automated Industrial Robotics Inc. Additionally, Irish companies successfully raised growth capital totalling 503 million. The EY M&A Firepower report highlights a global trend of pivoting towards smaller deals, with 51% of biopharma deals targeting early-stage assets. The report anticipates this trend to continue, emphasizing that the sector needs to address growth gaps due to upcoming patent expiries.
Sectors
- Life Sciences
- Corporate Finance
Geography
- Ireland – The focus of the article is on M&A activity and fundraising involving Irish companies in the life sciences sector.
- Global – The article mentions global M&A trends in the life sciences sector, with references to global capital availability and distribution.
Industry
- Life Sciences – The life sciences sector, including pharmaceuticals, biotechnology, and medical technology, is the focus of the M&A and fundraising activities described in the article.
- Corporate Finance – The article discusses M&A activity and growth capital raising, both of which are key areas of corporate finance.
Financials
- 198 million – Valued amount of 2024 M&A deals involving Irish companies.
- 1.3 billion – Amryt Pharma's sale to Chiesi Farmaceutici, impacting 2023 M&A values.
- 503 million – Total growth capital raised by Irish companies in 2024.
- 1.3 trillion – Global capital held by the industry for potential M&A activity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rowex Ltd | Target Company | Company | Cork-based company acquired by Sandoz. |
| Sandoz | Bidding Company | Company | Swiss firm that acquired Rowex Ltd. |
| Metabolic Diagnostics | Target Company | Company | Cork-based firm acquired by Trinity Biotech. |
| Trinity Biotech | Bidding Company | Company | Company that acquired Metabolic Diagnostics. |
| Modular Automation Ireland | Target Company | Company | Clare-based firm acquired by Automated Industrial Robotics Inc. |
| Automated Industrial Robotics Inc. | Bidding Company | Company | Company that acquired Modular Automation Ireland. |
| EY Ireland | Source | Company | Corporate finance partner Fergal McAleavey and life sciences sector lead Johanna McLoughlin from EY Ireland provided insights for the article. |
| Amryt Pharma | Target Company | Company | Previously sold to Chiesi Farmaceutici for 1.3 billion, impacting M&A values. |
| Chiesi Farmaceutici | Bidding Company | Company | Italian pharmaceutical company that acquired Amryt Pharma. |
| Novo Nordisk | Company with Allocated Capital | Company | Danish pharmaceutical company mentioned for holding significant capital. |
| Eli Lilly | Company with Allocated Capital | Company | US firm noted for dominating capital allocation in the industry. |