A PharmaShots Quarterly Analysis
Q2 was one of the most active quarters in recent memory for the pharmaceutical and biotech industry. Big Pharma leaned hard into M&A and licensing to refill pipelines, the FDA cleared a broad slate of new therapies, and AI-native partnerships continued to reshape how drugs get discovered. Below, we break down the quarter…
Shots:
Novartis led biopharma dealmaking in 2025, executing 23 transactions worth $37.92B with a disciplined, high-impact strategy that balanced scale, science, and strategic fit
Dealmaking was spread across high-conviction areas; neuroscience, cardiovascular disease, immunology, and RNA platforms, combining transformational acquisitions with flexible licensing partnerships to build a future-ready pipeline
Standout transactions (Avidity, Monte…

