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
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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 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.
DealPulse Signal Wk 29: The Biggest Deal of the Week Was a Bare Line
Thirty four healthcare deals crossed the wire the week of July 13, 2026. Four of the five that matter paid cash for something that already works: an operating rare-disease pharmacy, an FDA-approved drug, a Phase 3 asset with Breakthrough.