Deals

  • The exterior of Amgen's office building in South San Francisco, with a sculpted company sign in the foreground and leafless trees on a grassy lawn.
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    Alamy
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    Amgen gives up on its once-prized eczema drug

    The decision comes more than a year after disappointing initial Phase 3 results and casts further doubt on a class of autoimmune drugs thought to be challengers to treatments like Dupixent. 

    By • Jan. 30, 2026
  • A sign reads "AstraZeneca" with the company logo on an all-glass-grided building facade.
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    Alamy
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    China competition

    AstraZeneca leans into obesity, striking wide-ranging alliance with China’s CSPC

    The deal, which involves up to eight “next-generation” weight loss medications and could be worth more than $18 billion, ranks as the largest licensing pact of its kind since the start of 2025, according to BioPharma Dive data.

    By • Jan. 30, 2026
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    Courtesy of BMS
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    Bristol Myers buys into Janux’s ‘masked’ T cell engagers

    Worth up to $850 million, the partnership provides “further validation” for Janux at a time of heightened investor scrutiny regarding the potential of its top drug, one analyst wrote. 

    By • Jan. 22, 2026
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    Permission granted by GSK

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    GSK to buy Rapt in $2.2B deal for food allergy drug

    The deal is the first for new CEO Luke Miels as the British drugmaker looks to overcome pressure on its HIV and vaccines businesses.

    By Kristin Jensen • Jan. 20, 2026
  • Photo of Michael F. Mahoney, CEO of Boston Scientific.
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    Courtesy of Boston Scientific
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    Boston Scientific to acquire Penumbra for $14.5B

    With the planned purchase, Boston Scientific will gain a portfolio of devices to remove clots from blood vessels.

    By Elise Reuter • Jan. 15, 2026
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    Obesity drugs

    Alveus launches with $160M to advance MariTide-like obesity drug

    The hefty funding will fuel Phase 2 testing of a drug with a similar mechanism to Amgen’s closely watched obesity drug, as well as an amylin-targeting weight loss medicine.

    By • Jan. 8, 2026
  • A sign with Eli Lilly's logo sits outside of the company's headquarters on March 17, 2024 in Indianapolis.
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    Scott Olson via Getty Images
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    Lilly snaps up Ventyx for $1.2B in pursuit of oral immune drugs

    The buyout is a bet by Lilly on an increasingly popular drug target known as NLRP3 inflammasomes, which are implicated in an array of conditions.

    By • Updated Jan. 8, 2026
  • The exterior of Amgen's office building in South San Francisco, with a sculpted company sign in the foreground and leafless trees on a grassy lawn.
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    Alamy
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    Emerging biotech

    Amgen buys protein-degrading startup Dark Blue for up to $840M

    The deal hands Amgen a drug that destroys two proteins known to drive certain types of acute myeloid leukemia, a profile that could set it apart from current medications. 

    By • Jan. 6, 2026
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    BioMarin to buy rare disease drugmaker Amicus for $4.8B

    Analysts said the deal makes sense for BioMarin, as it offers a late-stage clinical asset as well as two marketed therapies that generated nearly $450 million over the first nine months of this year.

    By • Dec. 19, 2025
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    Emerging biotech

    Sobi snaps up gout drug in $950M deal for startup Arthrosi

    The deal revolves around a drug Sobi claimed could become the “therapy of choice” for people whose gout symptoms persist despite initial therapy. 

    By • Dec. 14, 2025
  • A chromatic Pfizer sign hangs on a building façade
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    Mario Tama via Getty Images
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    China competition

    Pfizer dips into China for another try at an obesity pill

    A potentially $2 billion deal with a subsidiary of Shanghai-based Fosun Pharma gives Pfizer a new chance at an oral weight loss medication, an area where its internal research has struggled.

    By Kristin Jensen • Dec. 9, 2025
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    Emerging biotech

    The ‘clever’ tool increasingly getting bigger biotech deals signed

    A decades-old way to bridge buyers and sellers on price, contingent value rights have recently seen an uptick in use due to a turbulent biotech market.

    By • Dec. 2, 2025
  • A Regeneron sign in front of a building.
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    Courtesy of Regeneron Pharmaceuticals
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    Gene editing

    Regeneron inks gene editing deal with startup Tessera

    The big biotech, which has made genetic medicine a focus in recent years, is paying Tessera $150 million for rights to a potential one-and-done treatment for alpha-1 antitrypsin deficiency.

    By • Dec. 1, 2025
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    Permission granted by Gilead Sciences
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    Gilead scoops up a preclinical cancer program

    The company, which invested heavily in oncology in recent years, has now put more than $400 million on the table to access a Sprint Bioscience drug targeting “TREX1.”

    By Kristin Jensen • Nov. 25, 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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    Emerging biotech

    Biogen strikes deal with Versant-backed biotech to expand immune portfolio

    Newly launched Dayra Therapeutics has agreed to identify for Biogen "oral macrocycle candidates" that go after "high-priority immunological targets."

    By • Nov. 24, 2025
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    Mark Makela via Getty Images
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    GSK, Anaptysbio sue each other over Jemperli revenue

    As Anaptysbio seeks to split off a royalty business, both companies claim the other breached contracts surrounding development of the cancer immunotherapy.

    By • Nov. 21, 2025
  • Modern glass and metal office building with a reflective blue-tinted facade, set against a clear blue sky. In the foreground, a large black and white sign reads “Abbott” with the company’s stylized logo and the number “645.” The area has neatly cut grass and a few small trees.
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    Alamy
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    Abbott to acquire Exact Sciences for about $21B

    The purchase would give Abbott access to cancer screening tests including Cologuard and blood tests for multi-cancer early detection.

    By Elise Reuter , Susan Kelly • Nov. 20, 2025
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    J&J adds to pharma’s M&A spree with $3B buyout of startup Halda

    The deal gives J&J access to a pipeline of drugs designed to “hold and kill” tumors, led by a prostate cancer medicine that’s shown promise in early-stage testing. 

    By • Nov. 17, 2025
  • A street sign for Wall Street in front of the facade of the New York Stock Exchange.
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    To Wall Street, a new bidding war puts Alkermes in a tough spot

    Now in a tug of war with Lundbeck, Alkermes could either lose out on a marketed sleepiness drug or end up paying significantly more than it had hoped.

    By • Nov. 14, 2025
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    NIAID. (2023). "Influenza A virus" [Micrograph]. Retrieved from Flickr.
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    Merck stakes $9.2B on Cidara and its long-acting flu drug

    The deal, one of two multibillion-dollar buyouts from Merck this year, centers around a drug that could become an alternative to vaccines for flu prevention.

    By • Nov. 14, 2025
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    Spencer Platt via Getty Images
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    Day One snaps up ADC maker Mersana in backloaded buyout deal

    After multiple clinical setbacks and layoff rounds, Mersana accepted an offer in which the bulk of the payouts will only materialize if its main cancer drug hits a variety of milestones.

    By • Nov. 13, 2025
  • A chromatic Pfizer sign hangs on a building façade
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    Mario Tama via Getty Images
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    Pfizer wins bidding war for Metsera with $10B offer

    The new proposal for the coveted obesity drug developer is more than double the size of Pfizer’s original bid and ends a squabble with Novo Nordisk that had resulted in lawsuits.

    By • Nov. 8, 2025
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    Obesity drugs

    FTC signals scrutiny of Novo’s bid for Metsera

    Without taking a firm position, the antitrust agency said Novo’s two-step deal structure may illegally sidestep requirements for a premerger review. 

    By • Nov. 5, 2025
  • A sign spelling Merck hangs on the side of an office building
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    Blackstone pays Merck $700M to buy into ADC drug royalties

    The deal hands Blackstone a piece of the potential future sales of an antibody-drug conjugate that could soon challenge marketed medicines from AstraZeneca and Gilead.

    By • Nov. 4, 2025
  • White flags bearing Novo Nordisk's logo are seen against a blue sky.
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    Courtesy of Novo Nordisk
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    Obesity drugs

    Metsera again chooses Novo as bidding war with Pfizer intensifies

    The obesity drug developer has declared a new proposal from Novo “superior” to Pfizer’s original bid as well as an updated offer revealed Tuesday.

    By • Nov. 4, 2025