DealPulse Signal Wk 44: Surgery Partners Took $5.7 Billion of the Week’s Upfront, and a Drug Licence Took $70 Million
A surgical network and a radiology group took 98% of the week’s upfront. The only separable drug upfront was $70M.
DealPulse
DealPulse Signal Wk 43: EQT Paid $12.1 Billion for QIAGEN, and Roche Paid $400 Million on a $15.5 Billion ADC Deal
EQT paid $12.1bn for QIAGEN, three drugs sold for $3.1bn in cash, and Roche paid 2.8% upfront on $16.3bn of licences.
DealPulse Signal Wk 42: STERIS Paid $2.1 Billion for Surgical Consumables, and No Drug Made the Top Five
The top five upfronts bought pads, skincare, labs, a robot and pathology software. Three AI licences paid 3.4% upfront.
DealPulse Signal Wk 41: McKesson Bought Into Home Infusion and Shionogi Bought the Next Label
Three takeovers lifted paid at signing to 80%. Four licences paid 17%, and a profit split carried the rest of the risk.
DealPulse Signal Wk 39: Telix Paid in Stock and the Platforms Paid in Promises
Telix’s cheque was 61% of every upfront dollar disclosed this week. The platforms paid about 3% of their headline value.
DealPulse Signal Wk 33: Rare Disease Took Two Thirds of the Week
Jazz paid $820 million for a Phase 1b asset. PTC paid $111 million for a filed one. The difference was not clinical risk, it was seller leverage.
DealPulse Signal Wk 32: Private Equity Took the Week and Paid Cash for All of It
Two listed healthcare companies agreed to go private before lunch on Monday. Eighty seven cents of every announced dollar was paid at signing.
DealPulse Report July 2026: Vertex Pays 102% as Oncology Cedes the Lead
Every July metric fell except the median and the cash share. Vertex paid a 102% premium for Crinetics and carried a fifth of the month alone.
DealPulse Signal Wk 31: One Buyer Paid Everything, Another Paid a Fifth
Two immunology deals, five days apart. argenx paid 100% on signing for Phase 1b. J&J paid 22% for preclinical. Both are correctly priced.
DealPulse Signal Wk 30: Three Billion-Dollar Deals, No Drugs
Dassault took a safety-data platform, Tempus took the diagnostics layer it already sold, Repligen took biopreservation tools. Three deals, no molecules.