Tracked deals
153
153 tracked deals across 2015-2026.
Tracked deals
153
153 tracked deals across 2015-2026.
Buyer mix
PE-led
169 pe · 62 strategic
Top trend
Volume peaked in 2022
33 tracked deals announced in 2022.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| GHO Capital Partners LLP | 5 | Specialist healthcare private equity investor focused on ... | PE |
| 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 |
| 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 |
| Bourne Partners Strategic Capital | 3 | Pharma services and consumer healthcare-focused investmen... | PE |
| Frazier Healthcare Partners | 3 | Healthcare‑focused middle‑market private equity firm inve... | PE |
| Keensight Capital | 3 | Pan-European growth buyout private equity firm investing ... | PE |
| SK Capital Partners | 3 | Private investment firm focused on specialty materials, s... | PE |
Last 9 years
Supporting Data
Angelini Pharma S.p.A. has entered into a definitive agreement to acquire all outstanding shares of Catalyst Pharmaceuticals, Inc. for $31.50 per share in cash, valuing the deal at approximately $4.1 billion. The transaction marks Angelini Pharma’s entry into the United States and is expected to close in the third quarter of 2026, subject to regulatory approvals and Catalyst stockholder approval.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
DOC Pharma (DOC Generici S.r.l.) announced a rebrand and the expansion of its product offering with the acquisition of Geopharma's nutraceutical portfolio and the closing of its previously announced acquisition of the Muscoril product/brand. The transactions broaden DOC Pharma's branded and nutraceutical lines as the company strengthens its presence across pharmacies and Italian healthcare channels.
KKR and Nordic healthcare investor Impilo have completed a joint acquisition of Stockholm-based Immedica Pharma, with Immedica management reinvesting alongside the new owners. Immedica is a commercial-stage pharmaceutical company focused on rare and specialty diseases (notably hematology, oncology and genetic/metabolic disorders) with ~€100m revenue and more than 120 employees; CVC Credit provided debt financing and Impilo used a single-asset continuation fund supported by secondary investors.
HUTCHMED agreed to sell a 45% equity interest in Shanghai Hutchison Pharmaceuticals Limited (SHPL) for about US$608 million in cash to GP Health Service Capital Co. and Shanghai Pharmaceuticals Holding. The divestment allows HUTCHMED to reallocate capital to its core oncology and ATTC (antibody-targeted therapy conjugate) pipeline and accelerate its path to profitability.
Zentiva has completed its voluntary public purchase offer for the shares of APONTIS PHARMA AG. Following settlement, Zentiva holds approximately 83.57% of the share capital and approximately 85.27% of the voting rights, with management agreeing to terminate the shares’ inclusion in trading on the Freiverkehr immediately after settlement.
CBC Group, in partnership with Mubadala Investment Company, has completed the US$680 million acquisition of UCB’s mature neurology and allergy product portfolio in China, including brands such as Keppra, Vimpat, Neupro, Zyrtec and Xyzal and a manufacturing site in Zhuhai. The assets have been combined into a new company named NeuroGen Pharma as an anchor platform to build an integrated CNS biopharma business in China and expand capability in neurology and allergy treatments.
Experic, a Cranbury, New Jersey-based CDMO and clinical trial supply services firm, received a growth capital investment led by 1315 Capital with participation from existing investors East Seattle Partners, Harro Höfliger Packaging Systems, Inc., and Kineticos Ventures. The capital will be used to enhance Experic’s manufacturing capabilities and accelerate its international expansion to better serve biopharmaceutical clients.
MidEuropa has acquired a controlling stake in FAMAR, a European contract development and manufacturing organisation (CDMO), from ECM Partners and Metric Capital Partners, with current shareholders and management reinvesting alongside MidEuropa. FAMAR employs around 1,900 people across six manufacturing sites and two R&D centres in southern Europe and will use MidEuropa's backing to support further growth and capability expansion in pharmaceutical manufacturing and R&D.
Ardena, a GHO Capital-backed CDMO, has signed a definitive agreement to acquire Catalent's FDA-approved drug product manufacturing facility in Somerset, New Jersey. The acquisition — expected to close in early 2025 subject to approvals — expands Ardena's US footprint and downstream capabilities in oral solid dosage manufacturing and bioanalytical services.
SHS Capital, together with its limited partners and other existing shareholders, is investing approximately €10 million in Develco Pharma to expand manufacturing capacity and accelerate product development in response to exceptionally strong demand. Develco, a specialty pharma developer and manufacturer of modified-release formulations headquartered in Pratteln (DACH region), has been backed by SHS since 2020 and reports an order book exceeding 12 months of revenue.
New Harbor Capital completed a single-asset continuation recapitalization of LGM Pharma in partnership with Origami Capital Partners to provide growth capital and facilitate liquidity for existing investors. LGM Pharma is a CDMO and API sourcing/distribution platform with manufacturing and analytical capabilities serving pharmaceutical, biotechnology and compounding pharmacy customers across multiple U.S. facilities.
RF Investment Partners announced a platform investment in Long Island-based sister companies Altro and Amici Pharmaceuticals, partnering with Aquimont Capital and Miramar Equity Partners to support growth in the companion animal/veterinary pharmaceutical market. The investment provides flexible debt and equity capital to expand sourcing, manufacturing and distribution capabilities for generic pharmaceuticals that serve both veterinary and human end markets.
Bain Capital Life Sciences led a strategic growth investment of more than $200 million in Serán Bioscience, with existing investor Vivo Capital remaining a key shareholder. The capital will fund a new commercial-scale manufacturing campus in Bend, Oregon, expanding Serán's development, analytical and commercial manufacturing capabilities across multiple drug delivery modalities.
Global private equity firm CVC invested KRW 200 billion in South Korea's PharmaResearch via redeemable convertible preferred shares (RCPS). The minority growth investment will support PharmaResearch’s overseas market entry, strategic M&A activity, and R&D/product pipeline expansion in aesthetic injectables and regenerative medicines.
Platinum Equity has acquired a controlling stake in Inventia Healthcare Limited's core Oral Solid Dosage (OSD) business from India Life Sciences Fund III (advised by InvAscent), NYLIM Jacob Ballas India Fund III and affiliates of the founding Shah family, with the Shah family retaining a minority stake. Headquartered in Mumbai, Inventia is a U.S. FDA- and MHRA-accredited contract manufacturer and developer of generic OSD products serving more than 100 customers across 40+ countries; Platinum plans to expand the business organically and via add-on acquisitions.
Avista Healthcare Partners has completed the acquisition of Trillium Health Care Products, a Brockville, Ontario-based CDMO specializing in branded over‑the‑counter (OTC) products, from New Water Capital. Avista plans to invest in Trillium’s growth, expand its footprint and capabilities, and use the business as a consumer‑healthcare platform for potential strategic add‑on acquisitions.
Funds managed by Hamilton Lane have acquired a significant equity interest in Cosette Pharmaceuticals from Avista Capital Partners and its co-investors. Avista and Hamilton Lane will jointly control Cosette as the company strengthens its balance sheet to accelerate R&D, product innovation and future M&A activity.
MedPharm and Tergus Pharma have merged and will operate under the MedPharm name to create an integrated, end-to-end topical and transdermal CDMO. Ampersand Capital Partners and Bourne Partners Strategic Capital assume majority ownership of the combined company while Great Point Partners retains a significant minority stake; Michael Kane is appointed CEO and Patrick Walsh remains Executive Chairman.
Aterian Investment Partners, through an affiliate, has acquired Contract Pharmaceuticals Limited (CPL), a Mississauga-based CDMO specializing in non-sterile liquid and semi-solid pharmaceutical and OTC products. Aterian said it will invest in people, technology and processes to support CPL's next phase of growth and further strengthen its position serving global pharmaceutical customers.
Oakley Capital Fund V is investing in ProductLife Group, a European provider of outsourced development, regulatory and compliance services to the life sciences industry. Oakley will partner with management and reinvesting shareholder 21 Invest to support international expansion, accelerate AI-driven technology enablement, and pursue a buy-and-build strategy.
Essential Pharma has acquired rights to Reminyl (galantamine hydrobromide) oral capsules from Janssen Pharmaceutica NV (a Johnson & Johnson company). The deal transfers rights in the EEA, South Korea, Thailand and other current markets (excluding the UK & Ireland, Japan and Latin America), expanding Essential Pharma’s CNS portfolio and its presence in the Asia‑Pacific region.
India-focused PE firm ChrysCapital is investing about $70 million to acquire a minority stake in Ahmedabad-based pharmaceutical company La Renon. The growth investment will support La Renon's expansion plans across chronic therapeutic segments, strengthen manufacturing and R&D capabilities, and fund geographic expansion into international markets.
Blue Wolf Capital Partners has agreed to acquire seven oral solid dosage (OSD) manufacturing and development facilities from Recipharm (located in Sweden, France and Spain) and has also agreed, subject to regulatory approvals, to acquire Synerlab, a Strasbourg-based CDMO. The transactions are intended to form a new independent CDMO platform (headquartered in the UK) that expands Blue Wolf's pharmaceutical manufacturing capabilities and commercial reach across Europe.
Essential Pharma has completed the acquisition of all issued share capital of Renaissance Pharma Ltd, gaining the clinical-stage immunotherapy Hu14.18K322A (Hu14.18) for treatment of high‑risk neuroblastoma. The deal adds a development‑stage rare disease oncology asset to Essential Pharma's portfolio; Renaissance's CEO Simon Ball and members of the Renaissance team will continue to work with Essential on further development in partnership with St. Jude Children's Research Hospital.
Apotex Inc. has completed the acquisition of Montreal-based Searchlight Pharma Inc., integrating Searchlight as Apotex's Specialty Pharma Division to expand its branded and specialty pharmaceutical capabilities. The deal adds Searchlight's portfolio of more than 60 products across women's health, dermatology, allergy, pain management and hospital specialty markets, and strengthens Apotex's commercial footprint in Quebec and across the Americas.
Exponent, a European private equity firm, has agreed to acquire Chanelle Pharma, Ireland’s largest indigenous manufacturer of generic human and veterinary pharmaceuticals, from founder Michael H Burke. The deal, terms undisclosed, positions Exponent to invest in Chanelle’s R&D, manufacturing capabilities and international growth across its presence in Ireland, the UK, Europe and Jordan.
Arlington Capital Partners has made a majority investment in Afton Scientific, a Charlottesville-based CDMO specializing in sterile injectable drug manufacturing and related lab/packaging services. The partnership will support Afton's capacity growth and expansion of service offerings while founder and CEO Tom Thorpe remains a material shareholder and will continue to lead the company.
Cosette Pharmaceuticals, a U.S. specialty pharmaceutical company backed by Avista Healthcare Partners, has acquired the Vyleesi (bremelanotide) product and related intellectual property from Palatin Technologies. The deal transfers five Orange Book-listed patents (protection through 2041) and aims to expand Cosette’s women's health portfolio while ensuring continued patient access during the transition.
NorthEdge has acquired Torbay Pharmaceuticals, a UK-based sterile injectable contract manufacturer, from Torbay and Devon NHS Foundation Trust to support the company's next phase of international growth. The investment (funded by NorthEdge Fund III) will back expansion into North America, strengthen fill/finish and plastic vial capabilities, increase automation, and support growth of Torbay's c.250-strong team at its Paignton, Devon HQ.
Advent International and Warburg Pincus completed the acquisition of Baxter International's BioPharma Solutions (BPS) business for $4.25 billion in cash, creating a standalone CDMO named Simtra BioPharma Solutions. Simtra will operate manufacturing sites in Bloomington, Indiana and Halle, Germany, establish a corporate headquarters in New Jersey, and employ approximately 1,700 people to provide sterile contract manufacturing and parenteral delivery services to pharma and biotech customers.
Azurity Pharmaceuticals has completed the acquisition of Slayback Pharma LLC from existing investors including KKR and Everstone Capital, making Slayback a wholly owned subsidiary of Azurity. The deal expands Azurity's R&D and complex formulation capabilities and accelerates its pipeline for new medicine launches as part of its growth strategy under majority owner QHP Capital.
Biosynth has acquired Pepceuticals, a UK-based specialist in synthetic peptides with multi-kilogram GMP and fill-finish capabilities. The deal expands Biosynth’s peptide division and enables end-to-end support from discovery through clinical trials to commercial supply.
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