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Krishna Veeraraghavan Discusses Rise in Life Sciences and Health Care Deals With The American Lawyer
April 25, 2023
Corporate partner Krishna Veeraraghavan spoke with The American Lawyer about significant M&A activity in the health care and life sciences sectors as overall deal activity stays light.
In the April 24 “Deal Watch” column, Krishna discusses the resilience in these sectors and the unique needs and strategies of large pharmaceutical companies pursuing M&A deals. “You have larger pharma companies buying smaller companies that have late-stage assets or early-stage commercial products in their portfolio in order to replenish their pipeline. They have moved from relying on internal research and development capabilities to buying smaller companies,” he says.
The article also highlights three multibillion-dollar deals in this space announced last week for Merck, TPG Capital and GlaxoSmithKline—all of which were led by partners at Paul, Weiss. For law firms to land one of these deals, Krishna says, the bar is high. “You need to have a lot of experience and reps. You need to know the space and the bankers and board directors … the regulatory framework, the IP risks and the probability of antitrust action. That is a long way of saying there is likely more competition coming, but only a handful of firms can do these deals,” he says.