Biopharma deals lost speed in the third quarter and are now falling behind each of the last two years, while merger and acquisition values doubled the amount from the first half of 2022. The industry completed a total of 283 deals, including licensings, collaborations and joint ventures, in Q3. They were worth a combined value of $40.98 billion, a rise of 8.3% over the second quarter but down by 28.7% from the first quarter.