Recent Pharmaceuticals Acquisitions
Acquisition Volume in Pharmaceuticals by Year
Last 5 years
Activity in Pharmaceuticals spans strategic pipeline purchases, manufacturing-site add-ons and compounding platform roll‑ups across North America, Europe and Latin America. Notable strategic buyers and financial sponsors are acquiring FDA‑approved products and clinical-stage assets (for example, Alkermes plc acquiring Avadel Pharmaceuticals plc and Cycle Group acquiring Applied Therapeutics, Inc.) as well as physical capacity to serve commercial and hospital markets.
Manufacturing and supply‑chain resilience are recurring themes: transactions add aseptic sterile‑injectable and oral solid‑dosage capacity, cGMP API sites and radiopharmaceutical manufacturing (for example, PAI Pharma / Olympus Partners adding a Sacramento sterile injectable facility; BioSelective Capital Investments forming Forma Life Sciences from BioDuro’s Irvine operations; and SHINE Technologies acquiring Lantheus’ SPECT business). Several deals also reflect buy‑and‑build rollups and regional expansion, such as Fagron’s U.S. compounding and Latin American essentials acquisitions.
What Stands Out
- Financial sponsors and strategic pharmaceutical companies are both active buyers — recurring names on the page include private‑equity firms and strategics such as H.I.G. Capital, GHO Capital Partners LLP, Pfizer Inc. and Fagron NV.
- Manufacturing and capacity expansions are prominent: oral solid‑dose and API sites, a new aseptic sterile‑injectable facility, and radiopharmaceutical/SPECT manufacturing feature across deals (Irvine, Eugene, Sacramento, North Billerica).
- Specialty and rare‑disease pipeline acquisitions appear alongside commercial product purchases — examples include Mirum Pharmaceuticals acquiring Bluejay Therapeutics and Alkermes adding the FDA‑approved LUMRYZ from Avadel.
- Regional activity spans the United States, Europe and Brazil, with transactions in California, Massachusetts, Oregon, Belgium, Ireland and Goiás (Brazil).
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March 20, 2026
- Buyer
- Blackstone Credit & Insurance, B-FLEXION Life Sciences, Paratek Pharmaceuticals, Radius Health
- Target
- Radius Health, Paratek Pharmaceuticals
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Blackstone Credit & Insurance is leading a $1.3 billion financing to support the combination of Paratek Pharmaceuticals and Radius Health, creating a scaled, multi-asset specialty pharmaceutical platform. The combined company is expected to integrate commercial-stage assets and lifecycle/clinical development efforts to expand a diversified portfolio of targeted medicines.
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- Buyer
- Servier
- Target
- Day One Biopharmaceuticals, Inc.
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Servier entered into a definitive agreement to acquire Day One Biopharmaceuticals, a commercial-stage biopharmaceutical company, in a cash deal valued at about $2.5 billion. Servier will pay $21.50 per share and expects the transaction to close in the second quarter of 2026, subject to customary regulatory approvals and tender conditions.
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- Buyer
- Grünenthal
- Target
- Grünenthal Meds
- Seller
- Kyowa Kirin International
- Industry
- Pharmaceuticals
- Location
- United Kingdom
- Type
- Buyout
Grünenthal acquired Kyowa Kirin International’s 49% stake in Grünenthal Meds, taking full ownership of the joint venture created in 2023 to market Grünenthal’s established medicines portfolio. The JV manages a portfolio of 12 established brands across six therapeutic areas and more than 60 markets, with key products including Abstral, PecFent, Moventig, and Adcal-D3.
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February 12, 2026
- Buyer
- Alkermes plc
- Target
- Avadel Pharmaceuticals plc
- Seller
- Avadel Pharmaceuticals plc shareholders
- Industry
- Pharmaceuticals
- Location
- Ireland
- Type
- Buyout
Alkermes plc completed its all-cash acquisition of Avadel Pharmaceuticals plc under an Irish High Court‑sanctioned scheme of arrangement, adding Avadel's FDA‑approved product LUMRYZ to Alkermes' commercial portfolio. The deal accelerates Alkermes' entry into the sleep medicine market, is expected to be accretive in 2026, and includes Avadel's clinical candidate valiloxybate.
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February 12, 2026
- Buyer
- Ampersand Capital Partners
- Target
- Purna Pharmaceuticals
- Seller
- Creafund
- Industry
- Pharmaceuticals
- Location
- Antwerp, Belgium
- Type
- Buyout
Ampersand Capital Partners acquired Purna Pharmaceuticals, a Belgian contract development and manufacturing provider of liquid and semi-solid pharmaceutical dosage forms. The investment positions Purna to collaborate with Ampersand portfolio company MedPharm to create a trans‑Atlantic topical and transdermal development and manufacturing offering; Creafund, Purna's prior investor, supported the company for more than a decade and was referenced in the transaction announcement.
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- Buyer
- Swedish Orphan Biovitrum AB (publ) (Sobi)
- Target
- Arthrosi Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Swedish Orphan Biovitrum AB (Sobi) has completed its acquisition of Arthrosi Therapeutics, purchasing all outstanding shares of Arthrosi’s common stock and common stock equivalents. The deal adds pozdeutinurad (AR882), a once-daily oral URAT1 inhibitor in two fully enrolled Phase 3 studies for progressive and tophaceous gout.
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February 4, 2026
- Buyer
- BioSelective Capital Investments, Shayan Enterprises, LLC
- Target
- BioDuro's Irvine drug product development and manufacturing operations (now Forma Life Sciences, Inc.)
- Seller
- BioDuro, Advent International
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Divestiture
BioSelective Capital Investments, together with Shayan Enterprises, LLC, acquired BioDuro’s drug product development and manufacturing operations in Irvine, California and formed Forma Life Sciences, Inc. The transaction transfers two U.S.-based oral solid dosage development and manufacturing facilities (≈65,000 sq ft and ≈40,000 sq ft) to the new Delaware-held company; BioDuro (an Advent portfolio company) sold the assets.
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January 26, 2026
- Buyer
- Mirum Pharmaceuticals
- Target
- Bluejay Therapeutics
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Mirum Pharmaceuticals has completed the acquisition of Bluejay Therapeutics, adding brelovitug — a late‑stage monoclonal antibody for chronic hepatitis delta virus (HDV) — to its rare liver disease pipeline. The deal gives Mirum worldwide rights to the AZURE Phase 3 program and includes a combination of cash and Mirum common stock with potential sales‑based milestone payments; Mirum also raised approximately $268.5M in concurrent financing to support development and commercialization.
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- Buyer
- Agno Pharma
- Target
- Actylis Eugene (legacy Cascade Chemistry business)
- Seller
- Actylis
- Industry
- Pharmaceuticals
- Location
- Oregon, United States
- Type
- Buyout
Agno Pharma has acquired Actylis Eugene, the legacy Cascade Chemistry manufacturing asset in Eugene, Oregon, expanding Agno's U.S. cGMP API development and manufacturing footprint. The site includes a 16,000 sq. ft. R&D lab and a newly constructed 30,000 sq. ft. GMP manufacturing facility, enhancing Agno's capabilities to support biotech and pharmaceutical clients from early-phase through commercial API production.
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- Buyer
- Fagron NV
- Target
- University Compounding Pharmacy (UCP)
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Fagron has completed the acquisition of University Compounding Pharmacy (UCP), a San Diego–based 503A compounding pharmacy focused on hormone and urology therapies. The transaction values UCP at approximately $41.5 million; UCP generates roughly $25 million of annual revenue. Fagron said the purchase supports its strategy to build a nationwide U.S. compounding platform (complementary to Anazao) and strengthens its presence in California.
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January 12, 2026
- Buyer
- Fagron NV
- Target
- University Compounding Pharmacy (UCP)
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Fagron NV has completed the acquisition of University Compounding Pharmacy (UCP), a San Diego–based 503A compounding pharmacy focused on health and wellness, hormones and urology. The transaction has an enterprise value of approximately $41.5 million; UCP had annual revenues of around $25 million and will be integrated to strengthen Fagron's U.S. compounding platform alongside Anazao, with synergies expected over 18–24 months.
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January 12, 2026
- Buyer
- B-FLEXION Life Sciences
- Target
- Radius Health
- Seller
- Affiliates of Patient Square Capital, Webster Equity Partners
- Industry
- Pharmaceuticals
- Location
- Massachusetts, United States
- Type
- Buyout
B-FLEXION Life Sciences has agreed to purchase the remaining 57% interest in Radius Health held by affiliates of Patient Square Capital and Webster Equity Partners. Radius, a specialty biopharmaceutical focused on bone health, had been taken private by B-FLEXION and Patient Square in August 2022. The transaction is expected to close by the end of Q1 2026.
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January 8, 2026
- Buyer
- PAI Pharma, Olympus Partners
- Target
- Nivagen Pharmaceuticals, Inc.
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Addon
PAI Pharma, an Olympus Partners portfolio company, has acquired Nivagen Pharmaceuticals to add a newly built aseptic sterile-injectable manufacturing facility in Sacramento, California and a pipeline of more than 20 ready-to-use (RTU) injectable products. The add-on expands PAI's sterile injectable capabilities alongside its oral liquid franchise to better serve hospitals and health systems and strengthen U.S. pharmaceutical supply-chain resilience; financial terms were not disclosed.
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January 8, 2026
- Buyer
- Eli Lilly and Company
- Target
- Ventyx Biosciences
- Seller
- Entities affiliated with New Science Ventures, Ventyx directors and officers (including through voting/support agreements)
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Eli Lilly and Company has entered into a definitive agreement to acquire Ventyx Biosciences for approximately $1.2 billion. The deal values Ventyx at $14.00 per share in cash and is expected to close in the first half of 2026, subject to shareholder and regulatory approvals.
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January 6, 2026
- Buyer
- Fagron
- Target
- Grupo Purifarma
- Industry
- Pharmaceuticals
- Location
- Goiás, Brazil
- Type
- Buyout
Fagron has completed the acquisition of Purifarma, a large-scale pharmaceutical essentials business in Brazil, for an enterprise value of approximately R$250 million. The deal strengthens Fagron's scale and procurement position in Latin America and supports the Group's buy-and-build strategy to expand its pharmaceutical compounding and essentials platform.
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January 6, 2026
- Buyer
- Fagron NV
- Target
- Purifarma
- Industry
- Pharmaceuticals
- Location
- Goiás, Brazil
- Type
- Buyout
Fagron has completed the acquisition of Purifarma in Brazil following CADE approval, strengthening Fagron's scale in Essentials and advancing its buy-and-build strategy. Purifarma is a large-scale distributor/importer of pharmaceutical, food and cosmetic inputs; the transaction carries an enterprise value of approximately R$250 million and is expected to deliver product-mix improvements, access to industrial customers and purchasing synergies across Latin America.
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December 18, 2025
- Buyer
- Inke, Keensight Capital
- Target
- Pharmanoid
- Seller
- Gentec Pharmaceutical Group
- Industry
- Pharmaceuticals
- Location
- Catalonia, Spain
- Type
- Addon
Inke, supported by Keensight Capital, has acquired Pharmanoid, a specialized HPAPI manufacturing site focused on ophthalmic active pharmaceutical ingredients, from Gentec Pharmaceutical Group. The acquisition expands Inke's HPAPI capabilities beyond respiratory APIs and strengthens its position in ophthalmology and other therapeutic areas.
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November 20, 2025
- Buyer
- Walgreens, Sycamore Partners
- Target
- Fruth Pharmacy
- Seller
- Lynne Fruth, Fruth family
- Industry
- Pharmaceuticals
- Location
- West Virginia, United States
- Type
- Buyout
Walgreens has acquired Fruth Pharmacy, a small West Virginia-based chain operating roughly a dozen community pharmacy locations, after the independent retailer cited pressure from reduced PBM reimbursement rates. The transaction transfers ownership from Lynne Fruth/the Fruth family to Walgreens (now controlled by Sycamore Partners) and aims to maintain pharmacy services for local communities in West Virginia and nearby areas.
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November 17, 2025
- Buyer
- Azurity Pharmaceuticals
- Target
- Sebela Pharmaceuticals' Bowel Prep Franchise
- Seller
- Sebela Pharmaceuticals
- Industry
- Pharmaceuticals
- Location
- Massachusetts, United States
- Type
- Divestiture
Azurity Pharmaceuticals has acquired Sebela Pharmaceuticals' bowel preparation franchise, including two leading bowel prep therapies used for colonoscopies. The deal transfers Sebela's commercial team (more than 50 colleagues) and is intended to strengthen Azurity's gastroenterology product portfolio and U.S. market presence.
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November 17, 2025
- Buyer
- CarePartners Pharmacy
- Target
- National Drug Wholesale (NDW)
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
CarePartners Pharmacy, a national specialty infusion pharmacy based in Libertyville, Illinois, has acquired National Drug Wholesale (NDW), a Santa Clara, California–based pharmaceutical wholesaler and distributor. The deal expands CarePartners’ specialty distribution capabilities, strengthens its biosimilar supply chain and licensing footprint, and supports its payer- and manufacturer-focused cost-containment programs.
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- Buyer
- Axsome Therapeutics
- Target
- Baergic Bio
- Seller
- Avenue Therapeutics, Baergic Bio shareholders
- Industry
- Pharmaceuticals
- Location
- New York, United States
- Type
- Buyout
Axsome Therapeutics acquired a 100% equity interest in Baergic Bio (a subsidiary of Avenue Therapeutics) and amended Baergic Bio's license with AstraZeneca to obtain exclusive global rights to AZD7325, an early‑stage selective GABAA α2,3 receptor modulator for epilepsy. The deal includes a $0.3 million upfront payment to Baergic Bio shareholders and potential development, regulatory, sales‑based milestones and tiered royalties to Avenue Therapeutics and AstraZeneca as described in the purchase and amended license agreements.
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October 31, 2025
- Buyer
- CNX Therapeutics
- Target
- Sativex (nabiximols) global business, SVX Therapeutics Limited
- Seller
- Jazz Pharmaceuticals plc
- Industry
- Pharmaceuticals
- Location
- England, United Kingdom
- Type
- Divestiture
CNX Therapeutics has acquired the global Sativex (nabiximols) business from Jazz Pharmaceuticals, with the deal closing on 31 October 2025. The transaction includes marketing authorisations and commercial rights worldwide and the UK entity SVX Therapeutics Limited; Jazz will support a transition period under a Transition Service Agreement.
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October 21, 2025
- Buyer
- Curewell Capital
- Target
- Wilmington PharmaTech
- Industry
- Pharmaceuticals
- Location
- Delaware, United States
- Type
- Buyout
Los Angeles-based private equity firm Curewell Capital has made a majority investment in Wilmington PharmaTech (WPT), a U.S.-based specialty CRDMO focused on small-molecule API development and manufacturing. Founder and CEO Hui-Yin "Harry" Li will retain a significant ownership stake and remain as CEO; the capital will be used to expand WPT's U.S. manufacturing capacity, including HPAPI suites, and scale end-to-end API development and manufacturing capabilities.
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- Buyer
- Accord Plasma B.V., Intas Pharmaceuticals Ltd.
- Target
- Prothya Biosolutions Belgium BV, Prothya Biosolutions Belgium BV and its subsidiaries
- Industry
- Pharmaceuticals
- Location
- Belgium
- Type
- Buyout
Accord Plasma B.V., a subsidiary of Intas Pharmaceuticals, announced it has agreed to acquire 100% of Prothya Biosolutions Belgium BV and all of its subsidiaries, following customary closing conditions including regulatory approvals. The deal, expected to close shortly and later described as completed, expands Accord/Intas’s plasma-derived medicinal product (PDMP) capabilities and global plasma manufacturing footprint.
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- Buyer
- Viatris Inc.
- Target
- Aculys Pharma, Inc.
- Seller
- Aculys Pharma shareholders
- Industry
- Pharmaceuticals
- Location
- Japan
- Type
- Buyout
Viatris Inc. has acquired clinical-stage Aculys Pharma, Inc., obtaining exclusive development and commercialization rights in Japan for pitolisant and rights in Japan and select Asia‑Pacific markets for Spydia (diazepam) nasal spray. The deal includes an upfront payment to Aculys shareholders with additional milestone and royalty payments, and is intended to strengthen Viatris' presence and CNS capabilities in Japan.
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October 10, 2025
- Buyer
- Novo Nordisk A/S
- Target
- Akero Therapeutics
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Akero Therapeutics announced it has entered into a definitive agreement to be acquired by Novo Nordisk A/S in a transaction valued at up to $5.2 billion in cash. Under the terms of the deal, Akero shareholders will receive $54.00 per share at closing plus a non-transferable Contingent Value Right (CVR) that could pay an additional $6.00 per share contingent on full U.S. regulatory approval of efruxifermin (EFX) for compensated cirrhosis associated with MASH.
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October 9, 2025
- Buyer
- XenoTherapeutics Inc.
- Target
- ESSA Pharma Inc.
- Industry
- Pharmaceuticals
- Location
- British Columbia, Canada
- Type
- Buyout
ESSA Pharma Inc.’s securityholders approved the acquisition of all issued and outstanding common shares of ESSA by XenoTherapeutics Inc. via a statutory plan of arrangement. The transaction is subject to Supreme Court of British Columbia approval and other customary closing conditions, with an expected court hearing on October 7, 2025 and completion around October 9, 2025.
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September 29, 2025
- Buyer
- Lupin Limited, Nanomi B.V.
- Target
- VISUfarma B.V.
- Seller
- GHO Capital Partners LLP
- Industry
- Pharmaceuticals
- Location
- India
- Type
- Buyout
Lupin Limited, through its wholly owned subsidiary Nanomi B.V., has signed a definitive agreement to acquire VISUfarma B.V., a pan-European ophthalmology specialty pharmaceutical business. The deal is expected to close by the end of 2025, subject to customary closing conditions, and will expand Lupin’s specialty ophthalmology presence across major European markets.
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September 22, 2025
- Buyer
- Roche
- Target
- 89bio, Inc.
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Roche has reached an agreement to acquire 89bio, a biopharmaceutical company focused on treatments for liver diseases and cardiometabolic conditions. The deal is expected to close in the fourth quarter of 2025, with an offered price of $14.50 per share in cash plus potential contingent value rights tied to performance milestones for pegozafermin.
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September 11, 2025
- Buyer
- GTCR
- Target
- Zentiva
- Seller
- Advent
- Industry
- Pharmaceuticals
- Location
- Czechia
- Type
- Buyout
Advent and GTCR announced the sale of Zentiva, a leading European generics pharmaceutical company, with Advent selling Zentiva to GTCR. The transaction is subject to regulatory approvals and is expected to close in early 2026.
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September 11, 2025
- Buyer
- Bausch Health Companies Inc., Bausch Health Americas, Inc., BHC Lyon Merger Sub, Inc.
- Target
- DURECT Corporation
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Bausch Health Companies Inc. completed its previously announced tender offer to acquire DURECT Corporation for $1.75 per share in cash, totaling about $63 million upfront. The deal also includes potential net sales milestone payments of up to $350 million in the aggregate related to larsucosterol, which expands Bausch Health’s hepatology pipeline for alcohol-associated hepatitis.
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September 2, 2025
- Buyer
- PharmaCyte Biotech, Inc.
- Target
- TNF Pharmaceuticals, Inc.
- Industry
- Pharmaceuticals
- Location
- New York, United States
- Type
- Growth capital
PharmaCyte Biotech, Inc. increased its equity stake in TNF Pharmaceuticals, Inc. by $3.0 million to support TNF's recent license agreement with LightSolver for a light-based compute accelerator intended for cryptocurrency and blockchain applications. The investment is positioned to help TNF execute a strategic pivot tied to the new license; PharmaCyte said it remains well-capitalized and may pursue further portfolio opportunities.
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- Buyer
- KRTL Biotech, Inc., KRTL Holding Group, Inc.
- Target
- Industria Químico Farmacéutica Sigma Corp. S.R.L.
- Seller
- Wilstermann Family
- Industry
- Pharmaceuticals
- Location
- Cochabamba, Bolivia
- Type
- Buyout
KRTL Biotech, a wholly owned subsidiary of KRTL Holding Group, Inc., completed a merger-by-exchange to acquire 99% of Industria Químico Farmacéutica Sigma Corp. S.R.L. (SIGMA), a Bolivian pharmaceutical manufacturer. The Wilstermann Family received 490,000,000 KRTL Biotech common shares (49% of KRTL Biotech) and Patricia Wilstermann received a preferred share and a permanent board seat; SIGMA will be consolidated into KRTL Biotech's financials under U.S. GAAP.
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August 14, 2025
- Buyer
- Norgine
- Target
- Theravia
- Seller
- Mérieux Equity Partners
- Industry
- Pharmaceuticals
- Location
- France
- Type
- Buyout
Norgine completed its acquisition of Theravia, an international pharmaceutical company focused on therapies for patients with rare and debilitating conditions. Following closing, Theravia became a wholly owned subsidiary of Norgine, which will begin a structured integration process.
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August 6, 2025
- Buyer
- Intas Pharmaceuticals, Accord BioPharma, Inc.
- Target
- UDENYCA (pegfilgrastim-cbqv)
- Seller
- Coherus BioSciences, Inc.
- Industry
- Pharmaceuticals
- Location
- North Carolina, United States
- Type
- Divestiture
Intas Pharmaceuticals, via its U.S. specialty division Accord BioPharma, completed the acquisition of the UDENYCA (pegfilgrastim-cbqv) franchise from Coherus BioSciences. The asset sale expands Accord/Intas' FDA-approved biosimilar portfolio—particularly in oncology supportive care—and brings key Coherus commercial and manufacturing personnel into Accord to support continuity and growth in the U.S. and international markets.
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August 5, 2025
- Buyer
- Bora Pharmaceuticals Co., Ltd.
- Target
- Upsher-Smith Laboratories
- Industry
- Pharmaceuticals
- Location
- Minnesota, United States
- Type
- Buyout
Bora Pharmaceuticals completed a 2024 acquisition of Upsher-Smith Laboratories for $210 million and is expanding the Maple Grove, Minnesota manufacturing site with a multi-year buildout. The investment includes installation of a Gerteis Macro-Pactor (operational Q3 2025) and development of 100,000 square feet of shell space to boost oral solid dose (OSD) contract development and manufacturing capabilities.
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- Buyer
- Mallinckrodt plc
- Target
- Endo, Inc.
- Industry
- Pharmaceuticals
- Location
- Ireland
- Type
- Buyout
Mallinckrodt plc and Endo, Inc. completed their merger to create a global, scaled, diversified therapeutics leader. The transaction combines Mallinckrodt’s branded portfolio with Endo’s generics and sterile injectables business (Par Health), which is intended to be spun off as a standalone independent company targeted for the fourth quarter of 2025.
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July 31, 2025
- Buyer
- ESTEVE (Esteve CDMO / Esteve Química)
- Target
- Regis Technologies, Inc.
- Industry
- Pharmaceuticals
- Location
- Illinois, United States
- Type
- Buyout
ESTEVE (Esteve Química / ESTEVE CDMO) has acquired Regis Technologies, a Chicago-based contract development and manufacturing organization (CDMO) specializing in small-molecule APIs and separation products. The acquisition gives ESTEVE a physical U.S. presence, expands its early-stage development and cGMP API manufacturing capabilities, and adds ~70 employees to its US team.
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July 15, 2025
- Buyer
- Aptar Pharma (AptarGroup, Inc.)
- Target
- Mod3 Pharma (formerly Enteris Biopharma) - clinical trial materials manufacturing capabilities
- Seller
- SWK Holdings
- Industry
- Pharmaceuticals
- Location
- New Jersey, United States
- Type
- Divestiture
Aptar Pharma has acquired the Phase 1 and 2 clinical trial materials manufacturing capabilities of Mod3 Pharma (formerly Enteris Biopharma) from SWK Holdings. The deal adds cGMP fill-and-finish, high-potency API suites and biologics capabilities at a Boonton, New Jersey facility to Aptar's drug delivery and early-stage development services to accelerate adoption of its delivery technologies.
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- Buyer
- Merck
- Target
- Verona Pharma plc
- Industry
- Pharmaceuticals
- Location
- United Kingdom
- Type
- Buyout
Merck, through a subsidiary, entered into a definitive agreement to acquire Verona Pharma in a transaction valued at approximately $10 billion (at $107 per ADS). The acquisition is intended to add Ohtuvayre (ensifentrine) to Merck’s cardio-pulmonary pipeline, following FDA approval for COPD in June 2024.
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July 1, 2025
- Buyer
- Merck KGaA
- Target
- SpringWorks Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- Hesse, Germany
- Type
- Buyout
Merck KGaA, Darmstadt, Germany closed its acquisition of SpringWorks Therapeutics, Inc. in a deal with an enterprise value of $3.4 billion (about €3.0 billion). The acquisition adds SpringWorks’ rare tumor portfolio—including OGSIVEO (nirogacestat) and GOMEKLI (mirdametinib)—to Merck’s Healthcare business and is expected to accelerate growth in rare tumors and expand reach beyond the U.S.
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- Buyer
- 1315 Capital
- Target
- USpharma Ltd.
- Industry
- Pharmaceuticals
- Location
- Florida, United States
- Type
- Growth capital
USpharma Ltd., a Miami Lakes-based pharmaceutical development and manufacturing company, received a growth equity investment from Philadelphia-based 1315 Capital. The capital will be used to accelerate development and commercialization of USpharma’s pipeline, expand commercial reach, and scale operations at its 150,000 sq. ft. US-based GMP facility.
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- Buyer
- Particle Dynamics
- Target
- EUROAPI UK Ltd.
- Seller
- EUROAPI, EUROAPI UK Ltd.
- Industry
- Pharmaceuticals
- Location
- Suffolk, United Kingdom
- Type
- Divestiture
Particle Dynamics has acquired EUROAPI UK Ltd., the operator of a commercial spray drying facility in Haverhill, United Kingdom, from EUROAPI as part of the latter’s portfolio restructuring. The deal adds spray-drying expertise and commercial-scale capacity to Particle Dynamics’ global CDMO platform and will see investment to expand capabilities and serve clinical and commercial projects.
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June 29, 2025
- Buyer
- Torrent Pharmaceuticals Limited
- Target
- J. B. Chemicals and Pharmaceuticals
- Seller
- KKR
- Industry
- Pharmaceuticals
- Location
- Maharashtra, India
- Type
- Buyout
Torrent Pharmaceuticals has agreed to acquire a controlling stake in J. B. Chemicals & Pharmaceuticals from KKR at an equity valuation of INR 25,689 crore, purchasing a 46.39% stake (with potential to aggregate to 49.19%) followed by a mandatory open offer and a planned merger. The deal strengthens Torrent's presence in the Indian pharmaceutical market and adds JB Pharma's CDMO and international capabilities to Torrent's platform.
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June 23, 2025
- Buyer
- Milwaukee Capital Partners LLC, Concordia University Ventures
- Target
- MPP Group LLC
- Industry
- Pharmaceuticals
- Location
- Wisconsin, United States
- Type
- Buyout
Milwaukee Capital Partners LLC acquired MPP Group LLC in an all-cash transaction effective May 1, 2025, with a minority investment from Concordia University Ventures. MPP Group will remain headquartered in Mequon, Wisconsin and continue to be led by Benjamin Nelson, Ph.D.; the deal provides capital to expand the company's contract analytical and injectable formulation development services.
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June 23, 2025
- Buyer
- Navamedic ASA
- Target
- dne pharma
- Industry
- Pharmaceuticals
- Location
- Norway
- Type
- Buyout
Navamedic ASA has entered into an agreement to acquire the business of Norwegian addiction-treatment company dne pharma for total consideration of up to NOK 225 million. The acquisition includes dne pharma’s product portfolio, key employees, contracts, IP, licenses, and distribution agreements, and is expected to close in July 2025 subject to approval of Navamedic’s partially underwritten rights issue.
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June 17, 2025
- Buyer
- Knight Therapeutics Inc.
- Target
- Paladin Pharma Inc., International Pharmaceuticals business (Endo, Inc.)
- Seller
- Endo, Inc.
- Industry
- Pharmaceuticals
- Location
- Quebec, Canada
- Type
- Divestiture
Knight Therapeutics has completed the acquisition of Endo's International Pharmaceuticals business, primarily operated through Canada-based Paladin Pharma Inc. The divestiture closed for up to approximately $105 million in cash (about $79 million at closing, ~$11 million in permitted holdbacks and up to $15 million contingent on milestones).
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June 13, 2025
- Buyer
- XtalPi Inc.
- Target
- Liverpool ChiroChem (LCC)
- Industry
- Pharmaceuticals
- Location
- England, United Kingdom
- Type
- Buyout
XtalPi has acquired Liverpool ChiroChem (LCC), a specialist in automated chiral chemistry and high‑throughput chiral molecule synthesis, to integrate LCC’s PACE technology and chiral building‑block library into XtalPi’s AI- and robotics‑driven drug and materials R&D platform. The deal expands XtalPi’s end‑to‑end predictive and automated chemistry capabilities, accelerating discovery and synthesis of novel chiral compounds for pharmaceutical, materials, agricultural, and specialty chemical customers.
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June 3, 2025
- Buyer
- Buscar Company (OTC: CGLD)
- Target
- Armorgenix Company
- Industry
- Pharmaceuticals
- Location
- Wisconsin, United States
- Type
- Buyout
Buscar Company (OTC: CGLD) has acquired a 70% equity stake in Armorgenix Company via a strategic stock swap, making Armorgenix a key subsidiary. The deal expands Buscar's portfolio into pharmaceuticals—particularly antiviral and detoxification products such as DetoxShield—and includes plans for a Texas manufacturing facility and a Wyoming entity to manage IP and U.S. commercialization.
-
- Buyer
- Sanofi
- Target
- Blueprint Medicines Corporation
- Industry
- Pharmaceuticals
- Location
- Massachusetts, United States
- Type
- Buyout
Sanofi and Blueprint Medicines entered into an agreement under which Sanofi will acquire Blueprint via a cash tender offer and subsequent merger. The deal values Blueprint at $129.00 per share in cash (approximately $9.1 billion equity value), with additional potential milestone payments tied to BLU-808 via a contingent value right.
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Frequently Asked Questions
What types of buyers are active in pharmaceuticals deals here?
Both private‑equity sponsors and strategic pharmaceutical companies are active. Recurring buyers and investors listed include private‑equity firms (for example, H.I.G. Capital, GHO Capital Partners LLP, 1315 Capital) and strategics or industry platforms (for example, Pfizer Inc., Fagron NV, Alkermes plc).
Which asset types are being targeted?
Acquisitions include commercial and clinical‑stage pipelines (rare disease, CNS, sleep medicine), compounding and pharmacy platforms, and manufacturing assets — oral solid dosage facilities, cGMP API sites, aseptic sterile‑injectable plants and radiopharmaceutical/SPECT manufacturing.
Where is most transaction activity located?
Activity is geographically diverse but concentrated in the United States (California, Massachusetts, Oregon, New York), with notable European (Belgium, Ireland) and Latin American (Goiás, Brazil) transactions.
Do the deals include different payment or financing approaches?
Yes. Transactions on the page include all‑cash schemes (Alkermes/ Avadel) and combinations of cash and share consideration (Mirum/ Bluejay Therapeutics). Some buyers also completed concurrent financings to support development and commercialization (for example, Mirum raised approximately $268.5M).