The 2021 SRS Acquiom Life Sciences Study analyzes deal terms from more than 295 life sciences transactions that have been closed for more than one year, including milestone achievement data on 218 deals that have earnouts (aggregate $52.1B up-front plus $59.6B earnout potential).
The study provides data by industry sector, up-front value, closing year, and product stage and presents proprietary insights, including:
How much earnout potential is in near-term milestones versus long-term “biodollars”?
How much do parties typically negotiate for milestones at each phase of development?
Which milestones actually get paid, and when?
Did COVID-19 have an impact on life sciences milestones and earnouts?
Since 2008, SRS Acquiom has provided professional and financial services for life sciences M&A transactions involving biotech/pharmaceutical products (Bio/Pharma), medical devices, diagnostics, and life sciences tools and technologies. Very few of these agreements or information on post-closing outcomes are available publicly.