Tracked deals
55
55 tracked deals across 2025.
Pharmaceuticals Acquisitions in 2025
Buyer mix
Strategic-led
51 strategic · 15 pe
Top trend
Volume peaked in 2022
61 tracked deals announced in 2022.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Azurity Pharmaceuticals | 2 | Privately held specialty pharmaceutical company focused o... | Strategic (PE-backed) |
| 1315 Capital | 1 | Healthcare growth equity firm providing growth capital to... | PE |
| Accord BioPharma, Inc. | 1 | U.S. specialty division of Intas Pharmaceuticals focused ... | Strategic |
| Accord Plasma B.V. | 1 | Plasma-derived medicines/plasma fractionation business wi... | Strategic |
| Adragos Pharma | 1 | Global contract development and manufacturing organizatio... | Strategic |
| Aptar Pharma | 1 | Global provider of drug delivery, active material science... | Strategic |
| Aurora Growth Capital | 1 | Growth-focused private equity fund providing expansion ca... | PE |
| Axsome Therapeutics | 1 | Public biopharmaceutical company developing novel therapi... | Strategic |
| B-FLEXION Life Sciences | 1 | Private entrepreneurial investment firm investing and bui... | PE |
| BHC Lyon Merger Sub, Inc. | 1 | Merger subsidiary used to conduct the tender offer and me... | Strategic |
Acquisition Volume in Pharmaceuticals in 2025 by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
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.
-
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.
-
- 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.
-
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.
-
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.
-
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.
-
September 11, 2025
- Buyer
- GTCR, GTCR (as acquiring entity)
- Target
- Zentiva
- Seller
- Advent International
- Industry
- Pharmaceuticals
- Location
- Czech Republic
- Type
- Buyout
GTCR has completed its previously announced acquisition of Zentiva, a leading European generics pharmaceutical company, from Advent. The deal expands GTCR’s European generics healthcare platform and is intended to drive growth through continued investment in product development, portfolio breadth, and geographic reach.
-
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.
-
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.
-
- 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.
-
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.
-
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.
-
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.
-
- 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.
-
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.
-
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.
-
- 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.
-
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.
-
- 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.
-
- 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.
-
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.
-
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.
-
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.
-
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).
-
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.
-
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.
-
- Buyer
- Paratek Pharmaceuticals, Inc., B-FLEXION Life Sciences, Novo Holdings, Oaktree Capital Management, L.P.
- Target
- Optinose, Inc.
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Buyout
Paratek Pharmaceuticals completed the acquisition of Optinose, acquiring all outstanding shares for about $330 million, including assumed debt and contingent value rights (CVRs) tied to XHANCE net revenue milestones. The deal adds XHANCE (fluticasone propionate) to Paratek’s portfolio alongside its flagship antibiotic NUZYRA (omadacycline).
-
May 20, 2025
- Buyer
- Renaissance Partners, Aurora Growth Capital, Pavese family
- Target
- Genetic S.p.A.
- Seller
- CVC Strategic Opportunities II
- Industry
- Pharmaceuticals
- Location
- Campania, Italy
- Type
- Divestiture
CVC Strategic Opportunities II has sold its entire stake in Genetic S.p.A., an Italian CDMO headquartered in Fisciano, to a consortium led by Renaissance Partners and Aurora Growth Capital, with the founding Pavese family increasing its ownership. The deal marks a successful exit for CVC after a five-year partnership during which Genetic expanded internationally, grew revenues and advanced its R&D and production capabilities; the transaction remains subject to customary regulatory approvals.
-
- Buyer
- ESTEVE
- Target
- HRA Pharma Rare Diseases
- Seller
- Perrigo Company plc
- Industry
- Pharmaceuticals
- Location
- Île-de-France, France
- Type
- Divestiture
Barcelona-based ESTEVE completed the acquisition of HRA Pharma Rare Diseases (the rare-diseases business previously held by Perrigo) in July 2024, in a divestiture transaction announced by Perrigo for up to €275 million. The deal expands ESTEVE's rare-disease portfolio and strengthens its presence in Europe and the United States while supporting the company’s strategic focus on highly specialized therapies.
-
- Buyer
- MidEuropa, FAMAR
- Target
- Homburg sterile manufacturing site (from MiP Pharma)
- Seller
- MiP Pharma
- Industry
- Pharmaceuticals
- Location
- Saarland, Germany
- Type
- Addon
MidEuropa-backed portfolio company FAMAR signed an agreement to acquire a sterile manufacturing production site in Homburg (Saar), Germany from MiP Pharma. The addition expands FAMAR’s aseptic and lyophilised fill & finish capabilities and increases its European sterile manufacturing footprint to seven facilities, providing immediate capacity to serve international clients.
-
- Buyer
- PharmaLogic Holdings Corp.
- Target
- Agilera Pharma AS
- Seller
- Institute for Energy Technology (IFE)
- Industry
- Pharmaceuticals
- Location
- Oslo, Norway
- Type
- Buyout
PharmaLogic Holdings Corp. has agreed to acquire a majority stake in Norway-based Agilera Pharma AS from the Institute for Energy Technology (IFE), creating an expanded, integrated global CDMO focused on radiopharmaceutical therapeutics. The deal strengthens PharmaLogic's manufacturing, development, and distribution capabilities for radiopharmaceuticals and is expected to close in June 2025, pending customary approvals.
-
- Buyer
- Lupin Healthcare (UK) Limited, Lupin Limited
- Target
- Renascience Pharma Limited
- Industry
- Pharmaceuticals
- Location
- England, United Kingdom
- Type
- Buyout
Lupin Healthcare (UK) Limited, a wholly owned subsidiary of Lupin Limited, has acquired UK-based Renascience Pharma Limited, the sole supplier of four specialty branded products in the UK. The acquisition (reported at approximately £12.3 million) expands Lupin's branded specialty portfolio in the UK and strengthens its supply offerings to the NHS across infectious disease, ENT and cardiology/renal indications.
-
- Buyer
- Organon
- Target
- TOFIDENCE (tocilizumab-bavi)
- Seller
- Biogen Inc.
- Industry
- Pharmaceuticals
- Location
- United States
- Type
- Divestiture
Organon has acquired regulatory and commercial rights in the United States for TOFIDENCE (tocilizumab-bavi), a biosimilar to Actemra, from Biogen. The deal includes an upfront payment to Biogen and Organon will assume tiered royalty and milestone obligations while Bio‑Thera Solutions will retain manufacturing rights for the U.S. market.
-
- Buyer
- Kaken Pharmaceuticals, KAKEN INVESTMENTS INC.
- Target
- Aadi Subsidiary, Inc.
- Seller
- Aadi Bioscience, Inc., Whitehawk Therapeutics, Inc.
- Industry
- Pharmaceuticals
- Location
- New Jersey, United States
- Type
- Divestiture
Whitehawk Therapeutics completed the divestiture of Aadi Subsidiary, Inc. (including the Aadi Bioscience name, trademarks, and the FYARRO (sirolimus protein-bound particles for injectable suspension) business) to Kaken Pharmaceuticals for $100 million in cash plus customary adjustments. Whitehawk plans to use proceeds (along with a $100M PIPE financing) to develop its ADC portfolio and for general corporate and working capital needs.
-
March 14, 2025
- Buyer
- Azurity Pharmaceuticals
- Target
- Covis Group S.à r.l. (Covis Pharma)
- Seller
- Existing investors
- Industry
- Pharmaceuticals
- Location
- Switzerland
- Type
- Buyout
Azurity Pharmaceuticals has completed its acquisition of Covis Group S.à r.l. (Covis Pharma) from existing investors, making Covis a wholly owned subsidiary of Azurity. The deal expands Azurity's therapeutic portfolio across multiple complex dosage forms and broadens its global footprint, with the combined company serving 50+ countries and employing more than 800 colleagues.
-
- Buyer
- Jazz Pharmaceuticals plc
- Target
- Chimerix
- Industry
- Pharmaceuticals
- Location
- North Carolina, United States
- Type
- Buyout
Jazz Pharmaceuticals plc has entered into a definitive agreement to acquire Chimerix in an all-cash transaction valued at approximately $935 million (about $8.55 per share). The deal is expected to close in the second quarter of 2025, pending customary closing conditions, including tender of shares in a tender offer.
-
February 24, 2025
- Buyer
- Olympus Partners
- Target
- PAI Pharma
- Seller
- Enhanced Healthcare Partners, Bourne Partners Strategic Capital
- Industry
- Pharmaceuticals
- Location
- New Jersey, United States
- Type
- Buyout
Olympus Partners has acquired PAI Pharma, a leading U.S. developer, manufacturer and distributor of generic oral liquid medicines. The platform was previously owned by Enhanced Healthcare Partners and Bourne Partners Strategic Capital; terms were not disclosed and Monroe Capital provided senior financing for the deal.
-
February 22, 2025
- Buyer
- Granules India Limited
- Target
- Senn Chemicals AG
- Industry
- Pharmaceuticals
- Location
- Zurich, Switzerland
- Type
- Buyout
Granules India Limited has agreed to acquire Senn Chemicals AG, a Swiss peptide-focused CDMO, for ₹192 crore, with closing subject to conditions expected in the first half of 2025. The deal gives Granules peptide R&D and cGMP manufacturing capabilities and access to regulated-market customers as it expands into peptide therapeutics and related end-markets.
-
February 21, 2025
- Buyer
- Hims & Hers Health, Inc.
- Target
- US-based peptide facility (unnamed)
- Industry
- Pharmaceuticals
- Location
- California, United States
- Type
- Buyout
Hims & Hers Health, Inc. has acquired a US-based peptide manufacturing facility in California to further verticalize its supply chain and expand domestic capabilities for personalized medications. The acquisition, which closed in early February, strengthens Hims & Hers’ ability to meet growing consumer demand for personalized healthcare and peptide-based treatments.
-
February 11, 2025
- Buyer
- Novartis
- Target
- Anthos Therapeutics, Inc., Anthos Therapeutics
- Seller
- Anthos Therapeutics shareholders
- Industry
- Pharmaceuticals
- Location
- Massachusetts, United States
- Type
- Buyout
Blackstone Life Sciences and Anthos Therapeutics announced that Novartis will acquire Anthos for up to $3.1 billion, including a $925 million upfront payment to Anthos shareholders. The deal is expected to close in the first half of 2025, subject to customary closing conditions and regulatory approvals. Novartis later completed the acquisition, valuing the transaction at up to $3.1 billion with the $925 million upfront payment.
-
February 7, 2025
- Buyer
- Bain Capital
- Target
- Mitsubishi Tanabe Pharma Corporation
- Seller
- Mitsubishi Chemical Group Corporation
- Industry
- Pharmaceuticals
- Location
- Osaka, Japan
- Type
- Buyout
Bain Capital has signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation (Tanabe Pharma) in a carve-out transaction from Mitsubishi Chemical Group Corporation. The deal values Tanabe Pharma at approximately 510 billion JPY (~$3.3 billion) and is expected to close in the third quarter of 2025, subject to regulatory clearance and approvals.
-
February 6, 2025
- Buyer
- Jabil Inc.
- Target
- Pharmaceutics International (Pii)
- Seller
- Signet Healthcare Partners, Athyrium Capital Management, Hildred Capital, Pharmascience Inc.
- Industry
- Pharmaceuticals
- Location
- Maryland, United States
- Type
- Buyout
Jabil has acquired Pharmaceutics International (Pii), a Hunt Valley, Maryland-based contract development and manufacturing organization (CDMO) that provides aseptic filling, lyophilization and oral solid dose manufacturing. The all-cash transaction represents an exit for a consortium led by Signet Healthcare Partners, Athyrium Capital Management, Hildred Capital and Pharmascience Inc., and brings Pii’s ~300+ employees and four-site campus into Jabil’s Pharmaceutical Solutions offering to expand its drug development and manufacturing capabilities.
-
February 6, 2025
- Buyer
- Adragos Pharma
- Target
- Baccinex
- Industry
- Pharmaceuticals
- Location
- Jura, Switzerland
- Type
- Buyout
Adragos Pharma, a Munich-headquartered CDMO, has acquired Baccinex, a Swiss sterile fill-finish specialist based in Courroux, Jura. The acquisition adds a US FDA- and EU-GMP-certified 6,200 m² facility and over 110 sterile fill-finish experts to Adragos' global manufacturing network, enhancing its clinical and commercial sterile manufacturing capabilities.
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