2014 was a banner year for mergers and acquisitions globally, but few sectors dominated the deal-making cycle like pharmaceuticals and biotech.
According to Bloomberg data, drug makers announced a record $234 billion in acquisitions last year, nearly triple 2013 volumes.
The year was marked by a string of mega-deals and serial acquirers, from Medtronic's $42.9 billion purchase of medical device manufacturer Covidien multibillion buys of Forest Laboratories and Allergan. Barely a month in to 2015, the industry shows no signs of sweating out the M&A bug.
West Monroe takes a look at the primary drivers behind pharmaceutical and biotech deals in 2014, and what they indicate for M&A over the next twelve months. Click here to view the article as it originally appeared on Benzinga.