STAT+: Pharma goes on a spending spree, snapping up biotechs in a hurry

Pharmaceutical companies have significantly increased their acquisition activity, completing 32 biotech acquisitions valued at $1 billion or more in the past six months. This surge in deal-making has resulted in approximately $123 billion being spent by pharmaceutical and large biotech firms, surpassing the total spending of the previous year in half the time. In 2025, pharmaceutical companies engaged in 26 major merger and acquisition (M&A) deals, collectively spending $112 billion. This aggressive acquisition strategy indicates a strong demand for innovation and pipeline expansion within the pharmaceutical sector, with companies prioritizing the integration of novel technologies and therapeutic candidates through strategic purchases of smaller biotech firms.