The global pharma-bio M&A trend is showing a distinct trend of 'risk aversion'. Due to the macroeconomic impact, investments in stable areas became more active, while investments in high-risk, high-return areas have plummeted. 

This explains the sharp decline in M&A related to new drug development, which is high-risk and the increase in M&A related to CDMOs, which are relatively stable. 

Je Sung Pyun, Director of Strategy, Risk & Transactions at Deloitte Korea, explained so at a seminar on “Global Market Entry and Intellectual Property Protection” that was held at EL Tower in Yangjae-dong, Seoul, on the 21st, hosted by the Korea Pharmaceutical and Bio-Pharma Manufacturers A