Pharma M&A Reignites in June, Signaling Renewed Momentum Despite Regulatory Headwinds
SHERIDAN, WYOMING – July 1, 2025 – A late surge of acquisitions in June has reenergized pharmaceutical M&A activity, with six major deals announced that propelled first-half 2025 totals to 32 transactions across the industry. This burst of dealmaking, highlighted by BioNTech’s $1.25 billion acquisition of CureVac and Eli Lilly’s $1.3 billion buyout of Verve Therapeutics, has analysts optimistic that the sector’s cautious stance may finally be easing.
Resilient M&A Amid Regulatory Uncertainty
The first half of 2025 was marked by significant headwinds for dealmakers, including political and regulatory turbulence. The deal flow in the first half was overall “relatively steady but cautious,” PwC said in the firm’s mid-year outlook, published June 18. There were about 32 deals in the biopharma space recorded for the first half, according to data from S&P Capital IQ and analyzed by BioSpace.