The first half of 2025 saw a continued slowdown in global M&A activity across the life sciences sector, with deal value dropping sharply to just under USD 48 billion across 44 deals—down from the strong figures seen in early 2024. This marks the lowest deal volume and value since Q1 2023, highlighting ongoing caution among investors and acquirers.
Despite the decline in volume, major deals still shaped the landscape. Johnson & Johnson’s USD 14.6 billion acquisition of Intra-Cellular Therapies, Inc. led the way, underlining sustained interest in high-value assets in neuroscience.
The report reveals key insights into the geographical distribution of target and acquiring companies, the prevalence of cross-border versus domestic transactions, the segmentation by specific life science sectors, and the phase of lead assets involved in these deals.
Curious about global shifts in acquiring countries, asset maturity trends, or sector-specific consolidation? Download the full report for a comprehensive analysis of the H1 2025 M&A landscape, and gain a deeper understanding of where life sciences dealmaking is headed next.