In a new report, Jefferies analyst David Steinberg looked at the frenzy of M&A activity that has been happening in the specialty pharmaceuticals space in recent years. According to the report, 2014 was a blockbuster year for buyouts, and 2015 is on pace to be a record year.

Perfect M&A Environment

In the report, analysts explain that the current M&A cycle in pharmaceuticals has been driven by three key environmental factors: cheap debt, tax inversions and the creation of “cash” earnings reporting, which has allowed buyers to report immediate earnings accretion following a transaction.

Analysts describe the current M&A cycle, which began in 2005, as “robust,” and the current stage of the cycle particularly strong.

The Numbers

Last year saw 45 pharmaceutical…

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