Find out here why Germany tops the European M&A leaderboard of pharmaceutical contract manufacturing – and attracts significant foreign investments.

1. Germany leads the European M&A
league of pharmaceutical contract
manufacturing – and attracts significant
foreign investments
EY CDMO Study
German pharmaceutical contract manufacturers have gained
robust interest from foreign investors in the last 5 years.
Germany led the European CDMO M&A table with a volume
of US$2.8b. In Germany most investments were stemmed by
foreign investors – which is in stark contrast to other countries
such as China, where almost all the transactions totaling at
$US7.1bn represented domestic investments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
14
Germany 19
United Kingdom 22
France 23
China 31
India 31
US 134
Switzerland 7
Ireland 8
Belgium 9
Japan 10
Sweden 11
Australia 11
Italy 11
Spain 14
Canada
Cross-border
Internal
Number of deals
M&A target HQRank Number of deals per country
EV (US$b)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Cross-border
Internal
Norway 0.9
Switzerland 1.0
France 1.0
United Kingdom 1.1
Italy 2.0
Canada 2.4
Japan 2.5
Germany 2.8
India 3.5
China 7.1
US 21.1
Poland
0.7
0.9
Denmark 0.6
Spain 0.6
Turkey
M&A target HQRank Sum of EVs per country