Biopharma deal-making rebounded strongly in 2025, with rising confidence, larger transactions, and record alliance values shaping the year. Our latest Deal-making Roundup brings together the key numbers, trends, and therapeutic focus areas that mattered most.
2025 Highlights at a Glance
- 144 M&A transactions announced, signalling renewed strategic activity across the sector
- Q1 led on deal volume, while Q4 dominated on value, fuelled by a surge in billion-dollar deals
- $269.5bn in total potential alliance value, the highest annual aggregate on record
