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Current Issue:
The new edition of our newsletter on transactions in the global life sciences industry glances back at the significant deals that took place in 2025 and provides further insights on the industry’s market trends.
- Deal value and volume: The 2025 deal environment reflected a market in transition from volume‑led activity towards more selective, value‑driven execution.
- Strategic priority: Strategic acquirers continued to dominate dealmaking, but with a shift in intent. Rather than pursuing scale or breadth, buyers focused on pipeline and capability deepening.
- M&A focus: Deal flow leaned towards assets with near‑term clinical or commercial applicability. Acquirers remained selective, concentrating on opportunities that complemented existing therapeutic areas rather than expanding into unproven categories.
- De-risked M&A strategies: Risk management played a defining role in acquisition behavior. Buyers favored assets with clear clinical validation signals, reinforcing a preference for tangible, execution‑ready value over speculative pipeline exposure.
- Ruling therapy areas: Oncology and immunology remained central to deal activity, while neurology/central nervous system (CNS) and cardiometabolic assets gained momentum.
Your contact
Christian Klingbeil
Partner, Deal Advisory, Valuation, Head of Life Sciences & Chemicals
KPMG AG Wirtschaftsprüfungsgesellschaft