Shots:
GSK has entered into an agreement to acquire 35Pharma, incl. its asset HS235, expanding scalable growth opportunities within its Respiratory, Immunology & Inflammation portfolio
As per the deal, GSK will acquire 100% of 35Pharma’s equity for $950M in cash, payable at closing
HS235, a therapy targeting the activin receptor signalling pathway, has completed P-I…
Shots:
Hims & Hers has entered into a definitive agreement to acquire Eucalyptus, to expand into Australia and Japan, and deepen its presence in the UK, Germany, and Canada
As per the deal, Hims & Hers will acquire Eucalyptus for up to ~$1.15B, including upfront ~$240M in cash
The acquisition is expected to close mid-2026,…
Shots:
Cencora & Covetrus have entered into a definitive agreement to merge Covetrus with MWI Animal Health, forming a unified company delivering a comprehensive animal health platform
The deal values MWI at a $3.5B enterprise value, with Cencora receiving $1.25B in cash, $800M in preferred equity, & $1.45B in common equity, securing a 34.3% non-controlling…
Shots:
Eli Lilly has entered into a definitive agreement to acquire Orna Therapeutics, gaining a broad platform to drive long-term innovation in genetic medicine & in vivo cell engineering
As per the deal, Lilly will acquire Orna, with Orna’s shareholders receiving up to $2.4B in cash, incl. an upfront & subsequent clinical development milestones payment
Acquisition…
Shots:
GSK has entered into a definitive agreement to acquire RAPT Therapeutics, incl. its P-II asset ozureprubart with data expected in 2027, strengthening GSK’s inflammatory & immunology pipeline
As per the deal, GSK will acquire RAPT for $58/share, representing the aggregate equity value of $2.2B & an estimated upfront investment of $1.9B cash; closing expected…
Shots:
Boston Scientific has entered into a definitive agreement to acquire Penumbra, expanding its cardiovascular portfolio
As per the deal, Boston Scientific will acquire Penumbra for $374/share, with Penumbra stockholders having the option to receive either $374 in cash or 3.8721 shares of Boston Scientific’s common stock, representing the enterprise value of ~$14.5B; closing expected…
Shots:
Eli Lilly has entered into a definitive agreement to acquire Ventyx, strengthening Lilly’s capabilities in inflammatory-mediated diseases
As per the deal, Eli Lilly will acquire Ventyx for $14/share in an all-cash transaction, representing an aggregate equity value of ~$1.2B; closing is expected in H1’26
Ventyx is advancing a pipeline of oral small-molecule therapies, incl.…
Shots:
Amgen has acquired Dark Blue Therapeutics, strengthening its early oncology discovery efforts & pipeline
As per the deal, Amgen acquired Dark Blue Therapeutics in a transaction valued at ~$840M, integrating Dark Blue into its existing research organization
Acquisition will add a preclinical small molecule that degrades MLLT1/3 in select acute myeloid leukemia subtypes, showing differentiated anti-cancer activity…
Shots:
Sanofi has entered into an agreement to acquire Dynavax, incl. Heplisav-B (adult hepatitis B vaccine), Z-1018 (differentiated shingles vaccine candidate) & additional vaccine pipeline projects
As per the deal, Sanofi will acquire Dynavax for $15.50/share in cash, representing the total equity value of ~$2.2B, after which a Sanofi subsidiary will merge with & into Dynavax…
Shots:
Sobi has entered into a definitive agreement to acquire Arthrosi Therapeutics, incl. its asset pozdeutinurad (AR882), expanding its gout pipeline
As per the deal, Sobi will acquire Arthrosi in an all-cash transaction for $950M upfront & ~$550M in clinical, regulatory & sales milestones; closing is expected in H1’26
Pozdeutinurad (QD, PO) is an URAT1…

