In the race to innovate, life sciences companies are betting big on M&A, but navigating the risks requires smarter deal structures Big pharmaceutical companies facing patent cliffs. MedTech companies seeking access to the latest AI technologies. Across the life sciences industry, companies have strong incentives to use M&A to grow their product pipelines, enhance their existing product offerings, and gain access to new markets. But, at what cost? Less than half of phase II clinical…