Alexion signed two $600m-plus alliances, with Zealand Pharma and Affibody, that made it into the top five deals by value. Thermo Fisher grew its capabilities in cell and gene therapy manufacturing by acquiring Brammer Bio for $1.7bn. A $3.5bn private placement by AstraZeneca boosted pharma financing.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced April 2019.

In a deal worth over $4bn, GlaxoSmithKline and Merck KGAA will develop M7824, which targets two immuno-suppressive pathways. Danaher paid $21.4bn for GE Healthcare's biopharma business. Biopharma funding was up while device financing decreased from the previous month.

Investors at Alliance for Regenerative Medicine’s Investor Day in March 2019 were bullish on cell and gene therapies, but some worry about the market overcrowding.

Device fundraising in the fourth quarter totaled $1.5bn, a 42% decrease from Q3's $2.6bn. Q4 M&A activity reached $8.6bn. Q4 diagnostics financings brought in $1.2bn (a 32% increase over Q3) and M&As totaled $1.3bn (the second-highest quarter of the year).

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced February 2019.