Last year, biopharmaceutical research partnerships and licensing deals topped $12 billion. That's up almost one-fifth from 2003. And the trend looks like it might stay on track; in the first half of 2005, there were already more than $6 billion in deals. Fewer of these deals are now made by big pharma, the majority being sealed between biotech companies.
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Lawrence, S. R&D deals boom in 2004. Nat Biotechnol 23, 1036 (2005). https://doi.org/10.1038/nbt0905-1036
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DOI: https://doi.org/10.1038/nbt0905-1036