Transactions
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As innovator pipelines have deepened and the complexities of developing and manufacturing more recent generations of pharma (including biologics) have increased, the need to simplify manufacturing operations and reduce operating expenditure has led to the emergence of the CDMO industry.
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Despite another increase in COVID-19 case numbers globally, transaction activity increased sharply in Q4 after slowly picking up in Q3 and is now well above 2019 levels.
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The European automotive market is subject to opposing developments, on the one hand, the pressures on supply chains, and the availability of preliminary products and raw materials are easing however, on the other hand, the lower pre-COVID-19 cost level is looking unattainable.
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New signs of life have begun to emerge in China's restive domestic M&A market.
