India had a busy deals calendar in 2022, with companies led by Biocon striking large M&A deals while PE activity declined. In Vivo's sister publication Scrip pieced together data for infographics on these deals. A multitude of factors is expected to keep the momentum going in 2023.

Investments in differentiated and specialty products and collaborations, alongside divestitures, are part of Dr Reddy’s plans as it seeks to move up the rankings in India. Momentum in China, including an alliance with Sunflower Pharma for orphan diseases, is also being keenly watched.

Investments in differentiated and specialty products and collaborations, alongside divestitures, are part of Dr Reddy’s plans as it seeks to move up the rankings in India. Momentum in China, including an alliance with Sunflower Pharma for orphan diseases, is also being keenly watched.

Private Company Edition: Patient Square’s private equity fund, which surpassed its $3bn fundraising goal, may invest broadly across health care but the firm already has invested heavily in biopharma. Also, investor Dimension launches with a $350m specialized VC fund and Alto increased its series B to $60m.