55 pharmaceutical companies have been the target of 61 PE deals since the beginning of 2007, according to the PitchBook Platform. Deal flow remained relatively steady from 2007 to 2008 with 22 completed or announced deals in 2007 and 20 in 2008 but dropped in 2009 to only 11 deals. However, activity in the industry looks to be picking up this year with 8 deals already. Many of the target companies are located in either California or New Jersey, as 10 deals have taken place in each state. Over the same time period, 68 investors have invested in the industry with the most active including RoundTable Healthcare Partners (7 deals), The Blackstone Group (4) and Parthenon Capital Partners (3).