Mega-Mergers Reshape the Global Drug Development Landscape

June opened with Sanofi completing its $9.1 billion buyout of Blueprint Medicines, gaining the rare disease drug Ayvakyt and a robust oncology pipeline. Similarly, Eli Lilly acquired Verve Therapeutics for $1.3 billion, strengthening its gene-editing platform and advancing early-stage editors for rare genetic conditions. Both deals highlight the intense competition among global pharma leaders to secure next-generation therapies targeting oncology, genetic disease, and precision medicine.

AbbVie further solidified its immunotherapy footprint with a $2.1 billion acquisition of Capstan Therapeutics, expanding into scalable, next-gen CAR-T treatments. This marks the busiest month for billion-dollar biotech M&A so far in 2025.

Robust Deal Activity in Small Molecules and Protein Therapeutics

Novo Nordisk expanded its small molecule discovery by partnering with Deep Apple Therapeutics on non-incretin GPCR drug targets, in a deal totaling $812 million. Additional collaborations included Bristol Myers Squibb’s RayzeBio acquisition for a prostate cancer therapy and Sanofi’s diversification into kinase inhibitors for eczema indications. In protein therapeutics, Lilly struck another deal with Camurus for next-gen incretin drugs in diabetes and obesity, while also forming an AI-based fusion protein alliance with Juvena Therapeutics.

Licensing deals also surged, such as Philochem handing global rights for its radioligand prostate cancer drug to RayzeBio, and Vor Bio partnering with China’s RemeGen to develop the autoimmune drug telitacicept for myasthenia gravis in new markets.

Innovation, Regulatory, and Policy Highlights

As industry realigns, regulatory shifts are also in focus. Reports highlight the US FDA’s deployment of artificial intelligence into review processes, aiming for accelerated drug and device approvals while monitoring risks to transparency and data integrity. In Europe, pharmaceutical reforms and new orphan drug regulations are set to alter exclusivity, market incentives, and health technology assessment for advanced therapies.

Meanwhile, announcements dropped for Australia’s life sciences sector, with AusBiotech and Austrade launching new frameworks to attract global biopharma investment and support sector growth.

Funding and IPO Happenings

LB Pharmaceuticals completed a $285 million IPO—one of the largest recent biotech debuts—demonstrating renewed investor appetite despite an overall contraction of biotech fundraising compared to last year. Analysts note that successful listings are now closely tied to late-stage pipelines and clear commercialization strategies.