Pharma M&A deal value surges by 101% QoQ in Q1 2025 despite US political turbulence

2 May 2025

Mergers and acquisitions (M&As) in the biopharmaceutical industry surged 101% in total deal value in first-quarter 2025 from $18.8 billion in fourth-quarter 2024 to $37.7 billion.

However, drugmakers remain hesitant to pursue larger-scale transactions. The total deal value in first-quarter 2025 was 32% lower compared to first-quarter 2024, as larger M&As are seen as high risk due to the current US political landscape, according to pharma analytics company GlobalData.

According to GlobalData’s report “Pharma M&A Trends – Q1 2025,” oncology remains the leading therapeutic area in first-quarter 2025, with most of the deals targeting cancer-related assets.

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