Think the pharma M&A party will start winding down? Think again

Investors like pharma M&A. Drugmakers have money--or access to it. Ergo, look for the dealmaking frenzy to continue, a Morgan Stanley equity strategist says. The pharma industry accounted for 45% of U.S. M&A so far this quarter, Bloomberg reports, and at least 20% of the value of all offers over the last two quarters. Report