After years of market headwinds, biotech is rebounding. Economic and policy uncertainty had driven valuations to historic lows with nearly half of U.S. biotechs trading below cash by mid-2025. Now, a surge in M&A is reversing the trend as Big Pharma turns to acquisitions to offset patent losses and fuel innovation.
Our latest report explores the key forces behind this rebound, from the rise of megadeals like Johnson & Johnson’s $14.6 billion Intra-Cellular acquisition to Pfizer’s reentry into obesity treatments with its $7.4 billion Metsera deal. We also dive into the shifting regulatory lanscape, easing interest rates, and the new therapeutic focus areas shaping biotech’s next chapter.
