Deals

  • This is a pseudo-colored image of high-resolution gradient-echo MRI scan of a fixed cerebral hemisphere from a person with multiple sclerosis.
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    Bhagavatheeshwaran, Govind. (2016). "MRI Scan" [Image]. Retrieved from Flickr.
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    China competition

    Zenas looks to China to stock pipeline with 3 more immune drugs

    A potentially $2 billion deal with InnoCare Pharma hands Zenas rights to a BTK inhibitor in late-stage testing for multiple sclerosis and two other immune medicines in earlier development.

    By Kristin Jensen • Oct. 8, 2025
  • Glucagon-like peptide 1 (GLP1, 7-36) molecule The glucagon like peptide-1 receptor has a strong effect on the management of type 2 diabetes mellitus.
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    Getty Images
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    Obesity drugs

    Metsera strengthens case for Pfizer buyout with latest study data

    In a Phase 2 trial, a drug at the center of the $4.9 billion deal matched the type of weight loss trajectory seen in testing of Eli Lilly’s Zepbound.

    By • Sept. 30, 2025
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    Courtesy of Genmab A/S
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    Genmab to acquire closely watched cancer drug in $8B Merus buyout

    The deal hands Genmab a drug that showed the potential in earlier testing to extend survival in head and neck cancer when added to Merck’s widely used immunotherapy Keytruda.

    By • Sept. 29, 2025
  • A Pfizer logo sits atop the entrance of the company's Ian C. Read Laboratories in Cambridge, Massachusetts, on Sept. 5, 2024.
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    Jacob Bell/BioPharma Dive
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    Obesity drugs

    Pfizer buys back into obesity drug chase with $4.9B Metsera deal

    The deal ends a short run as a publicly traded company for Metsera, which is being sold for more than double its IPO price amid enthusiasm for its weight loss medicines.

    By • Sept. 22, 2025
  • A sign with Biogen's logo sits outside the company's Cambridge, Massachusetts, headquarters on Sept. 5, 2024.
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    Jacob Bell/BioPharma Dive
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    Biogen to buy startup Alcyone, eyeing easier delivery of RNA drugs

    The purchase gives Biogen full access to an implantable device that could help patients avoid the repeat lumbar punctures required for drugs like Spinraza.

    By Kristin Jensen • Sept. 18, 2025
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    Roche dives into MASH with $2.4B deal for 89bio

    Roche’s CEO claimed 89bio’s drug, which is in late-stage testing, has the potential to show “best-in-disease efficacy” for many people with the condition.

    By • Sept. 18, 2025
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    Getty Images
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    CSL nabs option to acquire a startup and its blood-clotting drug

    A deal with Dutch startup VarmX gives CSL an option to buy a Phase 3-ready drug that could reverse the effects of popular anticoagulants like Eliquis, which carry the risk of internal bleeding.

    By Kristin Jensen • Sept. 16, 2025
  • A sign spelling Novartis hangs on the side of a building.
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    Novartis to gain heart drug in $1.4B deal for Tourmaline Bio

    Tourmaline recently unveiled mid-stage trial data for its anti-inflammatory drug, which is ready for Novartis to advance into Phase 3 testing for heart disease.

    By • Sept. 9, 2025
  • An anatomical model of the heart sits on a desk in a doctor's office
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    Getty Images
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    China competition

    Bravehart, a stealthy startup, looks to China to challenge Bristol Myers heart drug

    Led by the former CEO of Hi-Bio and backed by notable investors, the startup licensed from Hengrui a drug it claims is superior to Bristol Myers' Camzyos as well as other, similar medicines.

    By • Sept. 5, 2025
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    Brain drug revival

    Novartis thinks Arrowhead brain drug can succeed where others couldn’t

    A licensing deal worth at least $200 million will give Novartis access to a preclinical RNA medicine designed to combat diseases like Parkinson’s.

    By • Sept. 2, 2025
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    Royalty Pharma buys BeOne stake in Amgen lung cancer drug sales

    An $885M deal with BeOne Medicine gives the pharma financier rights to a revenue stream from global sales of Imdelltra, which is sold by Amgen.

    By • Aug. 25, 2025
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    Getty Images
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    AbbVie wagers more than $1B on Gilgamesh’s psychedelic drug

    The asset deal thrusts AbbVie to the forefront of the psychedelic field, handing it a therapy that recently scored positive Phase 2 results in major depression.

    By • Aug. 25, 2025
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    Kevin Frayer via Getty Images
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    China competition

    Drugs from China are reshaping biotech. Track the licensing deals here.

    Zenas’ deal is the second involving InnoCare and a U.S. or Europe-based drugmaker this year, following a pact with Prolium Bioscience in January.

    By • Updated 9 hours ago
  • A photo of Gilead's cell therapy manufacturing facility in Frederick, Maryland
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    Courtesy of Gilead
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    Emerging biotech

    Gilead dives into ‘in vivo’ cell therapy with $350M buyout of Interius

    The deal gives Gilead ownership of a technology that can genetically modify immune cells inside the body, an approach could that potentially widen access to CAR-T treatment.

    By • Aug. 21, 2025
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    Biotech zombies

    Xoma, a drug royalty specialist, buys another ‘zombie’ biotech

    A deal to acquire Alkermes spinout Mural Oncology is Xoma’s fourth since June and the latest evidence of interest in buying and shutting down struggling drugmakers.

    By • Aug. 20, 2025
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    China competition

    Expedition, a startup searching for drugs from China, cuts its first deal

    The startup agreed to pay Fosun Pharma as much as $645 million for a drug in testing for multiple lung conditions, including bronchiectasis.

    By • Updated Aug. 12, 2025
  • A photo of CureVac headquarters in Tuebingen, Germany
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    Courtesy of CureVac AG
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    Vaccines

    BioNTech ends patent fight with mRNA rival CureVac ahead of buyout deal

    The complex settlement, which hands payouts and royalties to CureVac and partner GSK, comes as BioNTech is inching toward an acquisition of its one-time COVID-19 vaccine competitor.

    By • Aug. 8, 2025
  • A gloved hand holds a cluster of psilocybin mushrooms growing from a block of mycelium, illuminated by indoor lab lighting.
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    Alamy
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    Brain drug revival

    In rumored AbbVie deal, Wall Street sees momentum for psychedelics M&A

    A potentially billion-dollar acquisition of Gilgamesh Pharmaceuticals suggests big pharma may finally be willing to place significant bets on psychedelics.

    By • July 31, 2025
  • A flag bearing the logo for Bavarian Nordic flies in front of an office building.
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    Ann Czichos via Getty Images
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    Vaccines

    Bavarian Nordic agrees to $3B take-private deal

    The vaccine maker’s board intends to recommend a pending offer from investment firms Nordic Capital and Permira, which would take over the drugmaker and delist it from market.

    By • July 29, 2025
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    Adaptimmune, seeking to stay afloat, sells off cell therapies

    A deal with US WorldMeds includes the FDA-approved TCR therapy Tecelra and two clinical-stage cancer medicines.

    By • July 28, 2025
  • A photo of a building showing a GSK sign in London.
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    Courtesy of GSK
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    China competition

    GSK pays $500M to enter drugmaking alliance with Hengrui

    The deal, which focuses first on a COPD drug GSK believes holds “best-in-class” potential, could involve a dozen medicines and be worth $12 billion.

    By • July 28, 2025
  • A white sign bears the word Sanofi at a road entrance to an office building.
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    Getty Images
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    Vaccines

    Sanofi to acquire vaccine biotech in billion-dollar deal

    The French pharma will pay $1.15 billion upfront to buy Vicebio and gain access to non-mRNA vaccine candidates against RSV and metapneumovirus.

    By • Updated July 22, 2025
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    Dimensions via Getty Images
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    China competition

    Cancer drugmaker LaNova to sell to China’s Sino Biopharm

    Sino Biopharmaceuticals plans to pay up to $950.9 million to acquire LaNova Medicines, which previously licensed drugs to Merck and AstraZeneca.

    By • July 15, 2025
  • A low stone wall partially obscured by long grass bears a Merck & Co. logo
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    Jason Doiy via Getty Images
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    Patent thickets

    With Verona deal, Merck wagers on strength of lung drug’s patents

    The main patent for Ohtuvayre, the COPD drug at the heart of Verona’s $10 billion sale, expired in 2020. For Merck to make good on the deal, other secondary patents will need to hold up.

    By • July 11, 2025
  • An all-green glass building facade with a logo that reads "MERCK" is displayed on the exterior of the research facility.
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    Alamy
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    Merck to buy Verona and its lung drug in $10B deal

    The New Jersey-based pharma has inked one of the biggest deals of the year in pursuit of a promising new way to treat COPD.

    By Kristin Jensen • July 9, 2025