Industry activity in the drug delivery device sector is characterized more by stability than speed. Consort Medical's recent strategic moves have been both deliberate and decisive. For these players, deals with pharma can be several years in the making.

Drug delivery technology specialist Consort Medical has capitalized on device respiratory expertise for 50 years, but a renewed focus on strategic expansion has seen it make an IP play, move into the pharma side and target other delivery formats for global pharma industry customers. Its enhanced capabilities will keep rivals on their toes.

Device financing decreased to $734 million in Q3, less than half the Q2 total, and the $4.9 billion in M&As was a sharp decline versus Q2. Diagnostics fundraising, at $399 million, showed a 31% drop from Q2, and Merck KGAA’s $16.7 billion buy of Sigma-Aldrich made up 96% of the Q3 M&A activity.