After a somewhat quiet 2022 so far, M&A biopharma activity is seemingly heating up in the fourth quarter of the year as cash-rich pharma start to announce their planned takeovers. Within a week, a flurry of M&A deals were announced including LG Chem’s acquisition of Aveo Oncology and its commercial cancer drug, Fotivda® (tivozanib); Eli Lilly’s purchase of gene therapy developer Akouos whose lead products are aimed at hearing loss; and AbbVie’s takeover of DJS Antibodies and its lead fibrotic disease programme.