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Neurocrine Biosciences to Acquire Soleno Therapeutics for $2.9B

Shots: Neurocrine Biosciences has entered into a definitive agreement to acquire Soleno, expanding its endocrinology & rare disease portfolio As per the deal, Neurocrine will acquire Soleno for $53/share in cash, representing a total transaction equity value of $2.9B Acquisition will add Vykat XR (diazoxide choline) to Neurocrine's portfolio for the treatment of hyperphagia with Prader-Willi…

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PharmaShots Quarterly Outlook: The Forces Reshaping Biopharma in Q1 2026 

Headlines, Trends, and the Signals Shaping the Future of Biopharma  A Quarter That Reset the Biopharma Narrative  The first quarter of 2026 did not simply continue the momentum of the global biopharmaceutical industry; it redefined its direction.  From multi-billion-dollar acquisitions and accelerating rare disease breakthroughs to AI-powered discovery collaborations and gene therapy approvals, the industry demonstrated a clear shift toward precision innovation, strategic consolidation, and next-generation…

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Apellis

Biogen to Acquire Apellis Pharmaceuticals for ~$5.6B

Shots: Biogen to acquire Apellis, incl. its assets Empaveli, Syfovre & felzartamab, for $41/share plus a non-transferable CVR, representing an upfront equity consideration of ~$5.6B, with remaining shares acquired later via a second-step merger CVR holders will receive $2/CVR if Syfovre achieves $1.5B sales (2027-2030), an additional $2 if it reaches $2B in the same…

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Eli Lilly to Acquire Centessa Pharmaceuticals in a Deal Valued at ~$7.8B

Shots: Eli Lilly has entered into a definitive agreement to acquire Centessa Pharmaceuticals incl. its asset cleminorexton & ORX142, expanding Lilly's neuroscience portfolio & capabilities into sleep medicine As per the deal, Lilly will acquire all issued & to-be-issued share capital of Centessa (incl. ADSs) for $38/share in cash (~$6.3B upfront), plus a non-transferable CVR of…

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Novartis to Acquire Excellergy for ~$2B

Shots: Novartis has entered into an agreement to acquire Excellergy, incl. its asset Exl-111, strengthening Novartis immunology strategy in food allergy & other IgE-driven diseases  As per the deal, Novartis will acquire Excellergy for ~$2B, incl. upfront & milestone payments, with closing expected in H2’26 EXL-111 is engineered to dissociate receptor-bound IgE, enabling faster &…

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Gilead to Acquire Ouro Medicine for ~$2.1B

Shots: Gilead to acquire Ouro for a total of $1,675M in upfront cash & up to $500M in contingent milestone payments. Acquisition will add Ouro’s P-I/II asset OM336 (gamgertamig) to Gilead’s inflammation portfolio, with registrational studies to begin in 2027 Also, Gilead is in advanced discussions with Galapagos for a potential R&D collaboration on the…

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Embecta to Acquire Owen Mumford for ~£150M

Shots: Embecta has entered into a definitive agreement to acquire Owen Mumford, expanding drug-delivery capabilities & strengthening global presence in the chronic care market As per the deal, Embecta will acquire Owen Mumford for ~£150M (~$199.9M), incl. £100M (~$133.2M) upfront & up to £50M (~$66.6M) in sales-based milestones tied to Aidaptus, with closing expected in…

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