Mergers & acquisitions
In this episode of Denatured, Jennifer C. Smith-Parker speaks to Maha Katabi, general partner at Sofinnova Investments and Andrew Lam, managing director, head of Biotech Private Equity at Ally Bridge Group, about how M &A dynamics, dealmaking and global partnerships are reshaping portfolio valuations and paths to growth in 2026.
The deals will help Lilly diversify its portfolio that is heavily weighted on the obesity juggernaut tirzepatide, marketed as Mounjaro for diabetes and Zepbound for weight loss.
In 2025, made or projected biopharma workforce cuts affected about 42,700 employees, according to BioSpace tallies. BioSpace takes a deep dive into which companies and locations were impacted and speaks to experts about what to expect ahead—and why.
The acquisition is centered on Dark Blue Therapeutics’ small-molecule degrader of the MLLT1 and MLLT3 proteins, which is being tested for acute myeloid leukemia.
Novo Nordisk follows Christmas oral Wegovy approval with quick launch; Eli Lilly is headed for $94.3 billion in annual revenue by 2027, analysts predict; nine more pharmas strike Most Favored Nation deals but half remain unsigned; experts call for stability and rare disease action at FDA, and all eyes are on M&A ahead of the J.P. Morgan Healthcare conference next week.
After a prolonged funding chill, investors say 2026 is shaping up for continued dealmaking and diversified bets beyond oncology and immunology.
After a strong open to the year, the public markets suffered a six-month drought that led to biotech’s tightest IPO window in years.
While Novartis secured the biggest deal of the fourth quarter, a handful of riveting tales emerged from the bottom of the M&A list, including a zombie buyout and a bidding war. And no, we’re not talking about Metsera.
Four of this year’s biggest acquisitions topped 11-figure figures. One was 2025’s messiest bidding war.
Of all the stories we published this year, these deep dives by BioSpace editors stand out as relevant re-reads going into the New Year.
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