2020 was a year like no other as the annual biopharma M&A total fell to the lowest level since EY began publishing its annual M&A Firepower report in 2013. In the first half of the year, the specter of COVID-19 deterred deals; as economies started to reopen, persistently high valuations were another reason many buyers remained on the fence. In the midst of such uncertainty, an innovation narrative emerged, with growing evidence of the power of new technologies, from antibody drug conjugates in oncology to RNA-based vaccines. These new innovations sparked many of 2020’s most notable deals and are sure to be important in the future. In this one hour panel discussion, we will discuss the current state of biopharma dealmaking and its implications for 2021 with M&A leaders from across the industry.

Topics include:

How current high valuations and liquidity play into deal considerations in a COVID and post-COVID world

The continued importance of therapy area focus – and its impact on dealmaking, especially bolt-ons and partnering

How strategic buyers and sellers can work with private equity in the current environment

How M&A and partnering will be used to add capabilities required to deliver care in the home as virtual care becomes the norm

Panelists:

Stefan Oschmann, Chairman and CEO, Merck KGaA, Darmstadt, Germany

John Young, Group President and Chief Business Officer, Pfizer

Elizabeth Mily, EVP, Strategy and Business Development, Bristol Myers Squibb

Moderator:

Peter Behner, Global Health Sciences & Wellness Strategy and Transactions Leader, EY

Well, 2020 was a wild ride. Due to the pandemic, medtech was right in the middle, supplying critical lifesaving technologies such as ventilators and early detection diagnostics and suffering losses as physicians and patients deferred less acute procedures. Medtech M&A for 2020 was light but the sector managed to remain active and 2H20 did produce a few large transactions. With global hospital utilizations continuing to improve month over month and (hopefully) more visibility into 2021 operating results, the medtech M&A market could be poised for a decent rebound and increase going into 2021. The EY/MWE Medtech Panel will focus on the M&A outlook for 2021, including deal considerations and events that could lead to a more cautious outlook or a return to boom times.

Mergers & acquisitions (M&A) leaders from medtech organizations and private equity firms focused on the sector will share insights and best practices for their 2021 plans, including the following:

Impact of the increase in medtech Firepower during 2020, including debt/equity raised by major OEMs
The impact of the liquid capital markets (IPOs, SPACs, etc.) on Medtech M&A
How the broader capital markets environment—cheap credit, activist shareholders—affects resource allocation for transformative M&A
How traditional medtechs will play in the evolving HCIT ecosystem
 

Panelists:

Christopher Cleary, VP, Corporate Development, Medtronic
Joseph DeVivo, President, Hospital and Health Systems, Teladoc
Kendall Garrison, Partner, TPG
Susan Morano, VP, Business Development, Johnson & Johnson Medical Devices
J.P. Peltier, Global Group Head, Healthcare Investment Banking, Piper Sandler

Moderator:

John Babitt, Partner, Life Sciences, Ernst & Young LLP

The cell and gene therapy (CGT) industry is moving into a truly transformative era. With so many different emerging CGTs on the horizon and the complexities associated with them, the industry needs to become more dynamic and collaborative to accommodate this changing landscape and to achieve scale. We will bring together a panel of industry stakeholders to discuss what could be achieved if data were more easily and appropriately shared amongst all who have a critical role in a patient’s care, and how we might create this trusted environment and associated infrastructure to maintain safety, security, and privacy to enable the speed of science to develop even faster.

Panelists: 

Brian Malkin, Partner, FDA Practice, McDermott Will & Emery 

Dr. David Rhew, Global Chief Medical Officer (CMO) and VP of Healthcare, Microsoft

Orlando Serani, Program Architect CAR-T Advanced Cell Therapies Supply Chain, Janssen Pharmaceutical Companies of Johnson & Johnson

Pamela Spence, Global Health Sciences and Wellness Industry Leader, EY

Moderator:

Adlai Goldberg, Global Life Sciences Digital, Social and Commercial Innovation Leader, EY