Tracked deals
359
359 tracked deals across 2014-2026.
Top Pharmaceuticals Acquirers (2014-2026)
Buyer mix
Mixed buyer set
282 strategic · 171 pe
Top trend
Volume peaked in 2022
61 tracked deals announced in 2022.
Primary Insight
What Stands Out
- Cross-program specialization: CNS, oncology, and mental health therapies are recurring themes (e.g., CNS-focused combination and lung cancer expansion).
- Pipeline build-outs via clinical-stage targets: Several acquisitions center on late-stage or clinical-stage programs moving into a buyer’s portfolio.
- Deal structures with cash + milestones or follow-on capital: Examples include cash consideration with contingent value rights and private placements alongside acquisitions.
- European platform and manufacturing integration: Agreements target manufacturing capacity, specialized formulation know-how, or regionally focused pharmaceutical platforms.
- Frequent U.S. footprint: Many listed transactions reference U.S. states such as Maryland, Texas, and Massachusetts.
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Eli Lilly and Company | 5 | Global pharmaceutical company with broad neuroscience cap... | Strategic |
| GHO Capital Partners LLP | 5 | Specialist healthcare private equity investor focused on ... | PE |
| Aceto | 4 | Global provider and distributor of specialty ingredients ... | Strategic (PE-backed) |
| Ampersand Capital Partners | 4 | Middle-market private equity firm focused on growth-orien... | PE |
| Essential Pharma | 4 | International specialty pharmaceutical group focused on a... | Strategic (PE-backed) |
| H.I.G. Capital | 4 | Global alternative investment firm providing equity and d... | PE |
| SK Capital Partners | 4 | Private investment firm focused on specialty materials, s... | PE |
| ANI Pharmaceuticals, Inc. | 3 | Diversified biopharmaceutical company that develops, manu... | Strategic |
| ARCHIMED | 3 | Healthcare‑focused private equity firm investing in and s... | PE |
| B-FLEXION Life Sciences | 3 | Investment manager within the B-FLEXION group, focused on... | PE |
Acquisition Volume in Pharmaceuticals by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- GSK
- Target
- Chimagen Biosciences
- Industry
- Pharmaceuticals
- Location
- Sichuan, China
- Type
- Buyout
GSK has agreed to acquire full global rights to Chimagen Biosciences’ potential best-in-class trispecific T-cell engager program for multiple myeloma in a deal worth up to $750 million. The agreement includes an upfront payment and development and commercial milestone payments for the privately held Chimagen.
-
- Buyer
- Eli Lilly and Company
- Target
- Merida Biosciences
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Eli Lilly and Company has agreed to acquire Merida Biosciences for up to $2.875 billion in cash to expand its precision immunology platform across autoimmune and allergic conditions. The deal includes an upfront payment and contingent milestone payments and is expected to close in Q4 2026, subject to regulatory approvals.
-
August 31, 2026
- Buyer
- Apotex Health (via subsidiary)
- Target
- Talicia
- Seller
- RedHill Biopharma
- Industry
- Pharmaceuticals
- Type
- Divestiture
RedHill Biopharma divested its 70% economic interest in the Talicia business to a subsidiary of Apotex Health in exchange for $18 million upfront cash and up to $35 million in worldwide net sales milestone payments (up to $53 million total consideration). The transaction monetizes RedHill’s remaining stake and is intended to provide liquidity to fund RedHill’s next stage of commercial expansion, particularly within its gastrointestinal franchise.
-
August 23, 2026
- Buyer
- Ambros Therapeutics
- Target
- Ambros Therapeutics, Werewolf Therapeutics
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Werewolf Therapeutics and Ambros Therapeutics entered into a definitive all-stock merger agreement, with a concurrently announced, oversubscribed $150 million private placement expected to fund development of neridronate through pivotal Phase III results and a planned FDA submission. The combined company will operate as Ambros Therapeutics, be headquartered in San Diego, and is expected to trade on Nasdaq as AMBX.
-
- Buyer
- LEO Pharma
- Target
- Dersimelagon (worldwide rights)
- Seller
- Tanabe Pharma
- Industry
- Pharmaceuticals
- Location
- Denmark
- Type
- Buyout
LEO Pharma entered into an agreement to acquire worldwide rights to dersimelagon from Tanabe Pharma. The oral, once-daily MC1R agonist is in development for erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP), with LEO Pharma expecting pre-launch investments in 2026 and a potential launch in 2027. The deal includes up to USD 435 million in upfront and near-term milestone payments plus potential downstream milestones and tiered royalties.
-
August 11, 2026
- Buyer
- Alfasigma S.p.A.
- Target
- Nordic Group B.V. (Nordic Pharma), Nordic Group B.V. and its subsidiaries
- Seller
- SEVER Life Sciences B.V.
- Industry
- Pharmaceuticals
- Location
- Netherlands
- Type
- Buyout
Alfasigma S.p.A. has entered into a share purchase agreement with SEVER Life Sciences B.V. to acquire 100% of the shares of Nordic Group B.V. and its subsidiaries (Nordic Pharma). The deal will expand Alfasigma’s specialty rheumatology offering, including Nordic Pharma’s rheumatoid arthritis Nordimet (methotrexate) franchise, while also strengthening its commercial footprint in Europe, Canada, and Japan.
-
- Buyer
- Kaveri Therapeutics Inc.
- Target
- LNP7457 (PRMT5) oncology program, LNP8701 (SOS1) oncology program
- Seller
- Lupin Inc.
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Divestiture
Lupin announced a strategic spin-out of two oncology programs—LNP7457 (PRMT5) and LNP8701 (SOS1)—into Kaveri Therapeutics through its wholly owned subsidiary, Lupin Inc. Lupin Inc. will hold a significant equity stake, provide seed funding, and grant exclusive rights to the programs as Kaveri advances them through global clinical trials.
-
July 16, 2026
- Buyer
- Warburg Pincus
- Target
- Integrace Private Limited
- Seller
- True North, Temasek Holdings, True North Fund VI LLP, V-Science Investments Pte
- Industry
- Pharmaceuticals
- Location
- Maharashtra, India
- Type
- Buyout
Warburg Pincus acquired Integrace Private Limited, a Mumbai-based domestic formulations company focused on orthopedics and gynecology, valuing the deal at about Rs 1,200 crore (approximately $145 million). Existing shareholders True North and Temasek fully exited their investments, and industry veteran Rehan Khan was appointed CEO to lead the next phase of growth.
-
July 12, 2026
- Buyer
- Bayer AG, Apollo-managed funds and affiliates
- Target
- Bayer long-acting reversible contraceptives (LARC) business (held in newly established entity)
- Industry
- Pharmaceuticals
- Location
- North Rhine-Westphalia, Germany
- Type
- Recapitalization
Bayer will secure €3 billion in equity capital via an agreement with Apollo, with Apollo-managed funds taking a minority, non-controlling stake in a newly established entity holding Bayer’s long-acting reversible contraceptives (LARC) business. Bayer will retain a majority stake and full operational control, and the LARC business will remain part of Bayer’s Pharmaceuticals Division and be fully consolidated for financial reporting purposes. The transaction is expected to close in Q3 2026, subject to antitrust approval and customary closing conditions.
-
- Buyer
- Vertex Pharmaceuticals Incorporated
- Target
- Crinetics Pharmaceuticals, Inc.
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Vertex Pharmaceuticals will acquire Crinetics Pharmaceuticals for about $10 billion total equity value ($85 per share in cash). The deal adds Crinetics’ marketed rare-endocrine therapy PALSONIFY and late-stage asset atumelnant to Vertex’s portfolio, with closing expected in the third quarter of 2026 (and reported as completed on September 1, 2026).
-
- Buyer
- Aurobindo Pharma USA Inc. (APUSA), Aurobindo Pharma Limited
- Target
- Lannett Company, Inc., USA, Lannett Company LLC
- Seller
- Lannett Seller Holdco, Inc.
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Aurobindo Pharma USA Inc. (APUSA), a wholly owned subsidiary of Aurobindo Pharma Limited, has completed its acquisition of Lannett Company, Inc., USA from Lannett Seller Holdco, Inc. The deal received approval from the U.S. Federal Trade Commission on June 18, 2026, and effective June 29, 2026 Lannett became a wholly owned subsidiary of APUSA.
-
- Buyer
- Ipsen
- Target
- Kartos Therapeutics
- Industry
- Pharmaceuticals
- Type
- Buyout
Ipsen entered into a definitive merger agreement to acquire Kartos Therapeutics, bringing navtemadlin (an oral MDM2 inhibitor) into Ipsen’s hemato-oncology pipeline. The transaction adds a Phase III rare blood cancer asset for intermediate- and high-risk TP53 wild-type myelofibrosis, being evaluated as an add-on to ruxolitinib. Ipsen later completed the acquisition to expand its presence in myelofibrosis.
-
June 17, 2026
- Buyer
- Laprophan Group, Europhan
- Target
- Rivopharm
- Industry
- Pharmaceuticals
- Location
- Ticino, Switzerland
- Type
- Buyout
Laprophan Group completed the acquisition of a controlling stake in Rivopharm, a Switzerland-based specialty pharmaceutical company focused on specialty medicines, dossier development, and complex formulations. The deal strengthens Laprophan’s European footprint and supports its ambition to build an international pharmaceutical platform across Europe, Africa, the Middle East, and selected global markets.
-
June 16, 2026
- Buyer
- Eli Lilly and Company
- Target
- 4E Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- Texas, United States
- Type
- Buyout
Eli Lilly and Company acquired Austin-based neuroscience company 4E Therapeutics to advance its non-opioid chronic pain pipeline. 4E is developing orally available MNK inhibitors targeting the MNK-eIF4E signaling pathway in peripheral sensory neurons, including lead candidate 4ET1103 that entered human Phase 1 trials with a favorable safety profile.
-
June 11, 2026
- Buyer
- Cosmos Health Inc.
- Target
- Doc Pharma S.A.
- Industry
- Pharmaceuticals
- Location
- Greece
- Type
- Buyout
Cosmos Health Inc. has entered into a non-binding letter of intent (LOI) to acquire 100% of Doc Pharma S.A., a GMP-licensed European pharmaceutical manufacturer. The proposed deal is intended to deepen Cosmos Health’s vertical integration by expanding manufacturing capacity, product portfolio, and related R&D capabilities, and is expected to be accretive to assets, profitability, and cash flow over time.
-
- Buyer
- SK Capital Partners
- Target
- Apotex Health Corp.
- Seller
- Sherman estate
- Industry
- Pharmaceuticals
- Location
- Canada
- Type
- Recapitalization
SK Capital Partners acquired control of Apotex from the Sherman estate in 2023, then reoriented the business with cost cuts, geographic focus, and portfolio acquisitions (including biosimilars and specialty drugs). Over the following three years, SK Capital and the Sherman family completed a debt-heavy leveraged buyout and extracted roughly $2 billion via dividends and share repurchases, culminating in Apotex’s IPO in June 2026.
-
June 9, 2026
- Buyer
- GSK, Deerfield Management (announced as Nuvalent portfolio owner; not the acquirer)
- Target
- Nuvalent, Inc.
- Industry
- Pharmaceuticals
- Location
- Massachusetts, United States
- Type
- Buyout
GSK announced an agreement to acquire clinical-stage biopharmaceutical company Nuvalent for $10.6 billion to expand its lung cancer oncology portfolio. The deal will include three non-small cell lung cancer (NSCLC) programs, led by zidesamtinib and neladalkib, and is expected to drive revenue growth beginning in 2027.
-
June 1, 2026
- Buyer
- Servier
- Target
- sevasemten (asset/program), Edgewise Therapeutics muscular dystrophy business
- Seller
- Edgewise Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- Colorado, United States
- Type
- Divestiture
Servier acquired sevasemten and Edgewise Therapeutics' muscular dystrophy business in a transaction with total potential consideration of up to $2.65 billion, including $1.55 billion upfront and up to $1.1 billion in regulatory and commercial milestones. The deal closes Servier into Becker and Duchenne muscular dystrophy, while Edgewise transitions to a cardiovascular-focused pipeline centered on EDG-7500 and EDG-15400.
-
- Buyer
- Eli Lilly and Company
- Target
- Curevo Vaccine (Curevo), LimmaTech Biologics AG (LimmaTech Biologics)
- Industry
- Pharmaceuticals
- Location
- Switzerland
- Type
- Buyout
Eli Lilly entered definitive agreements to acquire Curevo Vaccine and LimmaTech Biologics as part of a broader expansion of its infectious disease R&D platform. Lilly will acquire Curevo for up to $1.5 billion and LimmaTech Biologics for up to $780 million, with upfront and additional milestone-based payments.
-
- Buyer
- TopGum Industries Ltd.
- Target
- P26L Developments LLC, P L Developments LLC, PL Developments LLC (PLD)
- Industry
- Pharmaceuticals
- Location
- New York, United States
- Type
- Buyout
TopGum Industries Ltd. completed the acquisition of the U.S. gummy manufacturing operations of P26L/PL Developments LLC (PLD). TopGum also entered a long-term commercial partnership with PLD under which PLD will commercialize and distribute TopGum-manufactured gummy products to leading U.S. retailers under store-brand labels.
-
May 5, 2026
- Buyer
- ACEA Therapeutics, Inc., ACEA Pharma, Inc.
- Target
- ACEA Pharma, Inc.
- Seller
- Phoenix Asia Holdings Limited
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Scilex Holding Company’s indirect subsidiaries ACEA Therapeutics, Inc. and ACEA Pharma, Inc. entered into a stock acquisition agreement with Phoenix Asia Holdings Limited to acquire 100% of ACEA Pharma. The transaction is valued at $1 billion and will issue Phoenix shares to ACEA Therapeutics, with Phoenix expected to be renamed the “Go-Forward Company” ACEA Pharma and listed on Nasdaq after closing.
-
May 1, 2026
- Buyer
- Teva Pharmaceuticals, Teva Pharmaceutical Industries Ltd.
- Target
- Emalex Biosciences, Emalex
- Seller
- Paragon Biosciences
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Teva Pharmaceuticals has acquired Emalex Biosciences in a definitive transaction to add ecopipam, a first-in-class investigational therapy for pediatric Tourette syndrome, to Teva’s neuroscience pipeline. The deal includes $700 million paid at closing, with up to $200 million in additional commercial milestone payments and net sales-based royalties, subject to regulatory approval.
-
April 27, 2026
- Buyer
- Eli Lilly and Company
- Target
- Ajax Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- New York, United States
- Type
- Buyout
Eli Lilly and Company announced a definitive agreement to acquire Ajax Therapeutics, Inc. in a deal valued at up to $2.3 billion, including upfront and milestone-based payments. The acquisition is intended to expand Lilly’s oncology pipeline with Ajax’s lead candidate, AJ1-11095, a Type II JAK2 inhibitor in Phase 1 development for myelofibrosis, including patients previously treated with Type I JAK2 inhibitors.
-
- Buyer
- Apotex, Apotex Health Corp.
- Target
- Cumberland Pharmaceuticals Inc.
- Seller
- Cumberland Pharmaceuticals Inc.
- Industry
- Pharmaceuticals
- Location
- Tennessee, United States
- Type
- Divestiture
Apotex entered into an agreement with Cumberland Pharmaceuticals to integrate Cumberland’s U.S. branded pharmaceutical business into Apotex. Under the terms, Apotex will acquire Cumberland’s line of branded pharmaceuticals for $100 million in cash, while Cumberland retains its pipeline candidates (including ifetroban) and its majority ownership in Cumberland Emerging Technologies Inc.
-
April 14, 2026
- Buyer
- Everstone Capital
- Target
- Apothecon Pharmaceuticals Private Limited, Navinta III Inc., Apothecon Group
- Seller
- Apothecon founding promoters (Dr. Mahendra Patel and Joe Renner) (retaining a meaningful stake)
- Industry
- Pharmaceuticals
- Location
- Gujarat, India
- Type
- Growth capital
Singapore-headquartered private equity firm Everstone Capital has invested close to $270 million for a substantial stake in Apothecon Group, formed by India-based Apothecon Pharmaceuticals and US-based Navinta. Everstone said it will accelerate the group’s product pipeline, expand commercial reach into new geographies, and pursue complementary acquisitions, while the founding promoters will retain meaningful ownership.
-
- Buyer
- Gilead Sciences, Inc., Lakefront Biotherapeutics
- Target
- Ouro Medicines
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Gilead Sciences agreed to acquire Ouro Medicines to expand its inflammation and immunology pipeline with gamgertamig (OM336), a clinical-stage BCMAxCD3 T cell engager for autoimmune diseases. The deal adds gamgertamig to Gilead’s portfolio and establishes Lakefront Biotherapeutics’ clinical development pipeline, with Lakefront overseeing Phase 1/2 studies and sharing upfront/milestone economics.
-
March 26, 2026
- Buyer
- Merck
- Target
- Terns Pharmaceuticals
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Merck has agreed to acquire clinical-stage oncology company Terns Pharmaceuticals for approximately $6.7 billion (53.00 per share in cash). The deal is intended to add Terns’ lead asset TERN-701, an investigational oral allosteric BCR::ABL1 inhibitor for chronic myeloid leukemia, to Merck’s hematology/oncology pipeline.
-
- Buyer
- Paratek Pharmaceuticals, Inc., B-FLEXION Life Sciences, Blackstone Credit & Insurance, Sixth Street, Oaktree Capital Management, L.P., Silver Point Capital, Pharmakon Advisors, LP
- Target
- Radius Health, Inc.
- Industry
- Pharmaceuticals
- Location
- Pennsylvania, United States
- Type
- Buyout
Paratek Pharmaceuticals completed its combination with Radius Health, adding Radius’s osteoporosis therapy TYMLOS (abaloparatide) to Paratek’s specialty pharmaceutical portfolio. The combined company is expected to generate nearly $1 billion in revenue in 2026 and expands the platform across multiple high-need therapeutic areas.
-
- Buyer
- Servier
- Target
- Day One Biopharmaceuticals, Inc.
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Servier and Day One Biopharmaceuticals entered into a definitive agreement for Servier to acquire Day One for $21.50 per share in cash, valuing the deal at approximately $2.5 billion. The acquisition is expected to close in the second quarter of 2026 and is intended to strengthen Servier’s rare oncology and pediatric low-grade glioma positioning while expanding its clinical-stage pipeline.
-
March 6, 2026
- Buyer
- Kuva Labs, Inc.
- Target
- Lisata Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- New Jersey, United States
- Type
- Buyout
Kuva Labs, Inc. has entered into a definitive agreement to acquire Lisata Therapeutics, Inc. for $5.00 per share in cash, plus a contingent value right (CVR) that could pay an additional $1.00 per share upon an FDA-related regulatory milestone tied to certepetide. The transaction is expected to close in the second quarter of 2026, subject to customary tender offer conditions, including tender of a majority of Lisata’s outstanding shares.
-
- 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.
-
February 26, 2026
- Buyer
- Asahi Kasei
- Target
- Aicuris Anti-infective Cures AG
- Industry
- Pharmaceuticals
- Location
- Germany
- Type
- Buyout
Asahi Kasei entered into a definitive agreement to acquire Aicuris Anti-infective Cures AG, a German biopharmaceutical company, for approximately €780 million. The acquisition is designed to expand Asahi Kasei’s specialty pharmaceutical platform into severe infectious diseases and to complement its existing transplant and nephrology franchises. A second article reports Asahi Kasei completed the acquisition.
-
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.
-
- 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.
-
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.
-
January 30, 2026
- Buyer
- BC Partners, Bpifrance (Bpifrance Investissement)
- Target
- Biogaran
- Seller
- Servier
- Industry
- Pharmaceuticals
- Location
- France
- Type
- Buyout
BC Partners and Bpifrance have completed the acquisition of Biogaran from Servier. The deal is supported by regulatory approvals (including EU clearances and French foreign investment screening), after a favourable opinion from Biogaran’s Social and Economic Committee.
-
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.
-
- 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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
- 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.
-
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.
-
- 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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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
- 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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Frequently Asked Questions
What types of pharmaceuticals acquisitions are shown on this page?
The page highlights a range of deal types, including company acquisitions, clinical-program additions, and program spin-outs—often focused on CNS, oncology, mental health, or specialized drug development and manufacturing.
Which buyers appear most often across the listed pharmaceuticals deals?
Recurring names include B-FLEXION Life Sciences, Provepharm Life Solutions, XenoTherapeutics Inc., Recro Pharma, Inc., Revolution Medicines, Inc., Vivo Capital, Bain Capital Life Sciences, and Oaktree Capital Management, L.P.
Where are the recent transactions concentrated geographically?
Recent deals reference the United States (including Maryland, Texas, and Massachusetts) as well as Europe (Germany, Switzerland, and Greece), plus activity in Maharashtra, India and Canada.
Do the transactions include deals beyond traditional M&A, such as spin-outs?
Yes. For example, Lupin spun out two oncology programs into Kaveri Therapeutics, with Lupin Inc. holding a significant equity stake and granting exclusive rights as Kaveri advances the programs.
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