Irish pharma firms took in $1.5 billion across seven deals last year, led higher by the sale of Cathal Friel’s Amryt Pharma
The value of merger and acquisition (M&A) transactions within the Irish life sciences sector soared by almost 600 per cent to $1.5 billion (€1.375 billion) in 2023, led significantly higher by the sale of Amryt Pharma, the rare disease drug maker co-founded by Cathal Friel.
Fundraising activity within the industry also saw a notable increase in the year, with 12 Irish companies successfully raising growth capital totalling €142 million – highlighting global investors’ continued interest in the sector and their favourable view of Ireland as a suitable place for investment.
hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials, providing end-to-end early clinical development services for its broad and long-standing client base of biopharma companies.