February 2026 Deal Report: Five Signals from $53B in Activity
February 2026 recorded 218 biopharma transactions totalling $53B in disclosed value.
M&A
Lilly to buy Ventyx for $1.2B, bolstering oral inflammation pipeline
Lilly acquires Ventyx to expand oral inflammation pipeline.
Lilly in advanced talks to buy Ventyx in a deal topping $1B
Eli Lilly is in advanced talks to acquire Ventyx Biosciences for more than $1B, a move that would add inflammatory bowel disease and neurology assets.
BioMarin to Acquire Amicus for $4.8B in Rare Disease Deal
BioMarin will acquire Amicus Therapeutics for $4.8B in cash, adding Galafold and Pombiliti + Opfolda and accelerating rare-disease revenue growth.
Sobi Buys Arthrosi to Broaden Gout Franchise and Push Into Chronic Inflammation
Swedish orphan-drug specialist Sobi has agreed to acquire Arthrosi, a privately held biotech focused on next-generation gout therapies
Novo Nordisk Secures Breakthrough MASP-3 Asset in $2.1B Omeros Deal
Omeros has finalized the handoff of its clinical-stage MASP-3 monoclonal antibody zaltenibart (OMS906) to Novo Nordisk, closing a transaction that delivers immediate liquidity, removes near-term financing overhangs, and validates a complement-pathway mechanism increasingly viewed as one of the next competitive frontiers in immunology. The deal, first signed in mid-October, brings Omeros $240 million at closing … Read more
GE HealthCare to Acquire Intelerad for $2.3B to Build a Cloud-First Enterprise Imaging Platform
GE HealthCare to Acquire Intelerad for $2.3B, Advancing a Cloud-First Imaging Strategy and Expanding Its Reach Across Ambulatory and Hospital Markets GE HealthCare has signed an agreement to acquire Intelerad for $2.3 billion in cash, a move that significantly accelerates the company’s cloud-first transformation and strengthens its position across enterprise imaging in both hospital and … Read more
Alkermes Raises Avadel Acquisition Offer to $2.37B, Outmaneuvering Lundbeck With Superior CVR Terms
Alkermes has increased its offer to acquire Avadel to $22.50 per share, valuing the deal at up to $2.37 billion.
J&J’s $3B Halda Deal Sets Up $50B Oncology Push
J&J is acquiring Halda Therapeutics for $3.05B, gaining a precision prostate cancer therapy and a breakthrough induced-proximity platform.
Synopulse Weekly Pulse: Access Decisions, Regulatory Events & Market Dynamics, Week of Nov 10, 2025
The Week’s Biggest Shifts in Payer Strategy This week’s policy and access landscape was defined by a sweeping overhaul of U.S. Medicaid drug pricing and a widening push toward value-driven reimbursement models. CMS’ newly announced GENEROUS model, paired with Most Favored Nation (MFN) pricing agreements for GLP-1s, marks a structural shift that will reshape affordability … Read more