IP service providers: a more cost-effective solution post M&A?

Mergers and acquisitions (M&A) continue to trend upwards in the life science sector. This has proved fertile ground for more specialist intellectual property service providers to offer their post-M&A services at a fraction of the cost of traditional law firms. But does this mean the law firms which traditionally have done this work are making unreasonable levels of profit in post-M&A IP activities?