In Q3, biopharma financing totaled $7.4 billion, a large proportion of which was by rare disease developers; among the highlights in the $23 billion in M&As was Allergan's buying spree, including two NASH companies. Just over $20 billion went into biopharma alliance dealmaking, and neurology assets attracted many of the dollars.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in July 2016.