Public Company Edition: Bausch remains the majority shareholder, but B+L is a separate operating company. Also, Rezolute raises $130m in dual financings and BridgeBio outlines job cuts and will out-license assets to conserve cash.

Totals for aggregate deals and in the M&A, alliance and divestment categories were similar among the 10 busiest deal makers from 2020 to 2021, but COVID-19 may have driven a more hectic deal-making pace overall in 2020.

Public Company Edition: Also, Roivant and two other biopharma firms close SPAC mergers and begin trading on the Nasdaq, Spero negotiated a royalty financing worth up to $125m and Phathom secured a $200m term loan. 

EQT and Goldman Sachs to pay $8.5bn in Parexel’s second private equity buyout in four years.