Top 20 life sciences deals show where 2025 money moved

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PharmaShots has published its “Top 20 Life Sciences Deals of 2025” list, created with data partner DealForma, as a year-end snapshot of the biggest transactions shaping biopharma, medtech, and life sciences services. The ranking highlights how 2025 dealmaking tilted toward large licensing alliances, platform bets, and selected big-ticket acquisitions, including Roche’s up to $5.3 billion obesity collaboration with Zealand Pharma, BioNTech’s more than $11 billion oncology partnership with Bristol Myers Squibb, Pfizer’s ex-China licensing deal with 3SBio for SSGJ-707, and Thermo Fisher’s acquisition of Solventum’s purification and filtration business. DealForma’s broader 2025 review shows healthcare and life sciences M&A rebounded sharply, with 585 transactions totaling $269.3 billion including contingencies, up from 466 deals and $140.8 billion in 2024. (linkedin.com)

Why it matters: For veterinary professionals, this isn’t animal health news directly, but it is a useful signal about where capital, R&D attention, and platform innovation are heading across the broader life sciences market. The biggest 2025 deals clustered around obesity, oncology, biologics discovery, AI-enabled drug development, and manufacturing infrastructure, underscoring the technologies and therapeutic areas most likely to influence translational research, diagnostics, specialty therapeutics, and competition for talent and investment across adjacent health sectors. Nature and Deloitte both point to a 2025 rebound driven by strategic external innovation, larger deal sizes, and demand for more derisked assets. (nature.com)

What to watch: Watch whether this 2025 deal surge carries into 2026, especially in platform technologies, cross-border licensing, and manufacturing assets that can ripple into animal health and veterinary biotech. (dealforma.com)