Business

Pharma's biotech buying spree hits $123 billion in the first half of 2026

Filed Jun 22, 2026 · 11:00

Event Jun 22, 2026

# Pharma's biotech buying spree hits $123 billion in the first half of 2026

> Drugmakers have struck 32 biotech acquisitions worth $1 billion or more so far in 2026, spending about $123 billion in six months. That already exceeds all of 2025, when 26 such deals totaled $112 billion, as large pharma races to refill pipelines.

**Filed:** 2026-06-22 11:00 UTC  
**Event:** Jun 22, 2026  
**Category:** Business  
**Source:** STAT News (https://www.statnews.com/2026/06/22/pharma-biotech-ma-boom-2026-deals-total-123-billion/)

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Pharmaceutical companies have already spent more on biotech acquisitions in the first half of 2026 than in all of last year, [according to STAT](https://www.statnews.com/2026/06/22/pharma-biotech-ma-boom-2026-deals-total-123-billion/). Drugmakers have closed 32 deals worth $1 billion or more — roughly $123 billion in total — surpassing the 26 blockbuster deals worth $112 billion recorded across the whole of 2025.

The pace reflects large drugmakers' appetite to buy growth as established products face looming patent expirations, with cash-rich buyers competing for late-stage assets. A consolidation wave of this size tends to lift valuations for smaller biotechs and concentrate promising drug candidates inside a handful of big balance sheets, which can speed some programs to market while drawing closer antitrust scrutiny.

[Read the source](https://www.statnews.com/2026/06/22/pharma-biotech-ma-boom-2026-deals-total-123-billion/)

Pharmaceutical companies have already spent more on biotech acquisitions in the first half of 2026 than in all of last year, according to STAT . Drugmakers have closed 32 deals worth $1 billion or more — roughly $123 billion in total — surpassing the 26 blockbuster deals worth $112 billion recorded across the whole of 2025.

The pace reflects large drugmakers’ appetite to buy growth as established products face looming patent expirations, with cash-rich buyers competing for late-stage assets. A consolidation wave of this size tends to lift valuations for smaller biotechs and concentrate promising drug candidates inside a handful of big balance sheets, which can speed some programs to market while drawing closer antitrust scrutiny.

Read the source