Deals

More than 30 biopharma executives, investors and industry experts shared their views on the environment for funding and deal-making in the year to come. With a patent cliff looming over big pharma at the same time as technology opens manifold possibilities for new approaches to drug discovery and development, the general view is that 2025 will be a busy year for partnering, with a trend towards earlier-stage deals and milestone-dependent payments.

Nine $1bn+ alliances were penned in December, and two exceeded $2bn.

Teva has announced two major biosimilars deals in quick succession, partnering with Samsung Bioepis on its US Epysqli eculizumab rival to Soliris and Formycon on its European Ahzantive aflibercept challenger to Eylea.

PE firms Advent and Carlyle drove the biggest M&A deals in human and animal pharmaceuticals in India during 2024, a year that also saw Lupin strike deals with Eli Lilly and Boehringer Ingelheim to further its ambitions in the fast-growing diabetes space. Which segments look hot and what are the expected trends for deal making in 2025?

GSK will pay up to $1.15bn for IDRx, Lilly is said to be making a play for Scorpion, Biogen offered to buy Sage and Gilead announced a partnership with Leo Pharma ahead of the J.P. Morgan Healthcare Conference.

As we enter 2025, In Vivo convened a group of biotech executives for a wide-ranging conversation about dealmaking this year and the challenges and opportunities for companies in the cardiometabolic, longevity, radiopharmaceuticals and cancer spaces. Essential listening before JPM.

Stada has made the strongest indication yet that it is preparing for an initial public offering, appointing Andreas Fibig as independent chairman of a board of directors that will be established “in the event of an IPO.”

Catalyst saw its share price jump by around 14% after striking what the market termed a favorable patent-litigation settlement agreement with ANDA sponsor Teva over its rare disease drug Firdapse.

Stada has made the strongest indication yet that it is preparing for an initial public offering, appointing Andreas Fibig as independent chairman of a board of directors that will be established “in the event of an IPO.”

2024 was truly a dealmaking year for Bio-Thera, with the latest partnership expanding the net for its ustekinumab biosimilar.