Deals


  • A sign shows the logo of Eli Lilly's Research Laboratories
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    jetcityimage via Getty Images
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    Lilly to buy Morphic in $3B bet on inflammation drug

    The deal would hand Lilly an experimental pill that could one day rival Takeda's blockbuster medicine Entyvio as a treatment for inflammatory bowel disease.

    By July 8, 2024
  • A white sign with the word Lilly written in red stands outside of an office.
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    Scott Olson via Getty Images
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    Eli Lilly inks another radiopharma deal, gaining option to buy startup

    Under an arrangement with Radionetics, Lilly will have rights to acquire the San Diego biotechnology company for $1 billion.

    By July 1, 2024
  • A sign showing the Eisai logo outside of a building
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    Courtesy of Eisai
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    Eisai and Bristol Myers cancel cancer ADC deal

    The Japan-based drugmaker said its U.S. partner’s “portfolio prioritization efforts” led to the termination. It will refund part of an upfront payment.

    By July 1, 2024
  • An AbbVie sign is seen on the outside of a building in California.
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    Courtesy of AbbVie
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    AbbVie expands its IBD prospects with $250M Celsius deal

    The pharma’s acquisition of Celsius is the latest in a string of deals by major drugmakers hunting anti-inflammatory medicines.

    By June 27, 2024
  • An AbbVie sign is seen on a building at the pharmaceutical company's U.S. headquarters.
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    Courtesy of AbbVie
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    AbbVie joins in latest gastrointestinal drug chase

    Following Roche, Merck and others into a hot field, the Humira maker will pay $150 million to license a preclinical TL1A antibody for IBD.

    By June 14, 2024
  • Seres Therapeutics' microbiome pill Vowst for recurrent C. diff. infections.
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    Courtesy of Seres Therapeutics
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    Seres, indebted and in need of cash, agrees to sell microbiome pill to Nestle

    Seres did not disclose financial details for the deal, but said it would help extend the company's cash runway by one year.

    By Kristin Jensen • June 6, 2024
  • A closeup of an eye with light reflecting off of it.
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    Zorica Nastasic via Getty Images
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    Merck to buy eye drug developer for $1.3B

    An acquisition of EyeBio will hand Merck a treatment for diabetic macular edema and age-related macular degeneration that’s ready for pivotal testing.

    By Kristin Jensen • May 29, 2024
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    Maximusnd via Getty Images
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    Agios cashes in on cancer drug again with $905M Royalty Pharma deal

    The deal involves royalties for a brain cancer drug Agios previously sold off and that Royalty Pharma thinks could generate more than $1 billion in U.S. sales.

    By May 28, 2024
  • Signs for Johnson & Johnson are seen on company offices in California.
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    Mario Tama via Getty Images
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    J&J gains another bispecific antibody with $1.25B skin drug buy

    The deal is J&J’s second this month involving bispecific antibodies, which the company has prioritized to build its immune and cancer drug pipeline.

    By May 28, 2024
  • A  3D illustration of ribonucleic acid, or RNA, strands
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    Christoph Burgstedt via Getty Images
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    Orna, a circular RNA specialist, acquires a buzzy startup

    After laying off staff late last year, Orna is expanding through the purchase of ReNAgade Therapeutics, which was built around technology designed to more effectively deliver RNA-based medicines.

    By May 23, 2024
  • Two people in laboratory gowns inspect biotechnology equipment with lettering spelling Millipore.
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    Courtesy of Millipore Sigma via Business Wire
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    Merck KGaA to buy gene therapy tools maker for $600M

    The German drugmaker is bolstering its MilliporeSigma business with a unit of Gamma Biosciences that specializes in so-called transfection reagents.

    By Kristin Jensen • May 23, 2024
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    Mario Tama via Getty Images
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    J&J to buy Proteologix and its dual-targeting antibody drugs for $850M

    The deal is part of a plan by J&J to build a portfolio of “differentiated” bispecific antibodies, an increasingly popular area of drug development. 

    By Kristin Jensen • May 16, 2024
  • A scientific illustration of amyloid plaques and neurons, colored in blue and orange.
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    selvanegra via Getty Images
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    Takeda nabs option to license Alzheimer’s immunotherapies from AC Immune

    The deal — worth $100 million up front and potentially billions more later on — gives Takeda an exclusive option to license an Alzheimer’s vaccine and other “active immunotherapies.”

    By May 13, 2024
  • A photo of Sanofi headquarters in Paris, France.
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    Courtesy of Sanofi
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    Sanofi gambles $80M on Fulcrum’s muscular dystrophy drug

    The deal gives the pharma partial rights to a medicine GSK once developed for heart disease but could soon become the first therapy for facioscapulohumeral muscular dystrophy.

    By May 13, 2024
  • A composite image of two headshots, featuring Maze CEO Jason Coloma and CMO Harold Bernstein.
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    Permission granted by Maze Therapeutics
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    Maze lands new partner for Pompe drug, after Sanofi pact came apart

    An alliance with Shionogi involves similar terms as a deal Sanofi canceled in response to an unusual challenge from the Federal Trade Commission.

    By May 10, 2024
  • A photo of Sanofi headquarters in Paris, France.
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    Courtesy of Sanofi
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    Royalty Pharma pays startup $525M for stake in Sanofi MS drug

    The deal gives the company milestone payments and royalties to a medicine, frexalimab, that Sanofi licensed from biotech ImmuNext and expects to be a future blockbuster.

    By Kristin Jensen • May 9, 2024
  • 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

    Novo taps another Flagship startup in search for next obesity drugs

    The deal with Metaphore Biotechnologies is the third from a Flagship alliance meant to boost the Danish drugmaker’s pipeline of weight loss medicines.

    By May 9, 2024
  • An illustration of two lungs on a scientific background colored orange.
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    Mohammed Haneefa Nizamudeen via Getty Images
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    Gossamer sells rights to drug it hopes can rival a new Merck therapy

    One analyst thinks the collaboration “bodes well” for Gossamer, which has had trouble convincing investors its drug seralutinib can compete on the market.

    By May 6, 2024
  • A sign reading Novartis is seen on the side of a building viewed through trees.
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    Novartis
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    Why selling to Novartis made sense for Mariana

    Conversations at this year's J.P. Morgan Healthcare Conference led to a $1 billion buyout that Mariana's CEO described as a "perfect marriage."

    By May 3, 2024
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    Novartis
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    Novartis to buy Mariana Oncology in radiopharmaceutical expansion

    The $1 billion dollar acquisition will add to Novartis’ pipeline of the targeted radiation drugs, giving it a potential lung cancer treatment.

    By May 2, 2024
  • Two test tubes pour different-colored liquids into a beaker in an illustration representative of biopharma mergers.
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    Elizabeth Regan / Industry Dive
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    Deciphera to sell for $2.4B, adding to upswing in biopharma M&A

    For Japan-based Ono Pharmaceutical, buying Deciphera offers a way to build out in cancer research as well as get a stronger foothold in the U.S. and European markets.

    By April 29, 2024
  • A photo of a Biogen building
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    Permission granted by Biogen
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    Biogen: Don’t expect any big acquisitions this year

    While the company is eager to diversify, CEO Chris Viehbacher said any near-term dealmaking would likely focus on collaborations and early-stage assets.

    By April 24, 2024
  • An Ipsen site in Wrexham, UK.
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    Courtesy of Ipsen
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    Ipsen, Skyhawk to develop RNA-targeting pills for rare brain diseases

    The deal, which could be worth up to $1.8 billion, is the latest research collaboration involving small molecule drugs that modify RNA. 

    By April 22, 2024
  • A scientific illustration of amyloid plaques and neurons, colored in blue and orange.
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    selvanegra via Getty Images
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    Eisai hunts for next Alzheimer’s drug with new research pact

    A collaboration with BioArctic will focus on a technology designed to more effectively deliver drugs in the brain, following similar efforts by Roche.

    By April 22, 2024
  • A building showing a logo of Teva Pharmaceutical
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    Courtesy of Teva Pharmaceutical
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    Alvotech deal could heighten biosimilar pressure on Humira

    The agreement may help Alvotech capitalize on a recent policy shift by CVS that has driven major market share declines for AbbVie’s blockbuster drug.

    By April 19, 2024