The contract manufacturing market reports highest M&A activities in USA, India, China and Germany. Find out more in our report: https://go.ey.com/2AIlfBr

1. The contract manufacturing market
shows highest M&A activity in USA,
India, China and Germany
EY CDMO Study
The US clearly leads the CDMO M&A table by number of deals
and deal value, closely followed by China, India and Germany.
There is a clear divide who invests in CDMO assets: while most of
the deals in Asia take place within national borders, the US and
European countries – in particular Germany – attract significant
interest from international investors.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
14
Germany 19
United Kingdom 22
France 23
China 31
India 31
US 134
Switzerland 7
Ireland 8
Belgium 9
Japan 10
Sweden 11
Australia 11
Italy 11
Spain 14
Canada
Cross-border
Internal
Number of deals
M&A target HQRank Number of deals per country
EV (US$b)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Cross-border
Internal
Norway 0.9
Switzerland 1.0
France 1.0
United Kingdom 1.1
Italy 2.0
Canada 2.4
Japan 2.5
Germany 2.8
India 3.5
China 7.1
US 21.1
Poland
0.7
0.9
Denmark 0.6
Spain 0.6
Turkey
M&A target HQRank Sum of EVs per country