As the number of mega-mergers have increased in recent years, and the purchase price of innovative companies rises, it is apparent that many lucrative buyouts fail to meet expectations, although a few outperform from time to time.

BioWorld analyzed 21 M&As completed in the past 14 years to determine whether the money paid resulted in a lower, equal or greater match in product sales for the buyer. In most cases, the answer – delivered in a three-part series of articles – was “no” or “not yet.” But there were a few that stood out as shining examples of what can happen when the bet pays off.

A biopharma M&A scorecard: Some wins, lots of losses

Few biopharma mega-mergers hit the jackpot

Low sales, safety concerns doom biopharma’s ROI for mega-M&As