Biotech’s historic M&A run rate

Biotech M&A is on pace in 2026 to eclipse 2014's all-time record of $209.3 billion in total deal value, based on first-half activity.

As detailed in BioCentury’s 3Q26 financial markets preview, M&A has been the dominant driver of biotech performance this year: at least 33 transactions worth at least $1 billion were announced in 1H26, followed by a 34th — a $10 billion deal — in the first week of July...