Biopharma’s resilience is tested again in Q2 2025.
The second quarter of 2025 delivered a mixed bag for the global biopharma sector. While M&A activity showed signs of renewed confidence, IPOs remained sluggish, venture funding continued to decline, and China’s influence on the global stage grew stronger than ever.
In the latest of our regular round up reports, we break down the latest data and trends shaping the industry. We finally see some billion-dollar deals but faltering public markets and risk-averse investors mean that 2025 – for now at least – is not a return to business as usual.
Download the full report to explore:
- M&A momentum: Deal volume held steady, but billion-dollar upfronts are back.
- IPO drought: Just two small offerings in Q2 but perhaps some glimmers of hope.
- Venture funding trends: Mega-rounds are down, but conviction remains in select areas.
- China’s biopharma boom: Small- and mid-cap Chinese companies are reshaping the global landscape.
