Biopharma dealmaking in June 2025 surged to $35.07 billion, the highest monthly total this year and among the strongest in recent history. This boost propelled first-half 2025 deal values to $138.31 billion, exceeding the same period in 2024 and outpacing full-year deals in several prior pre-pandemic years. The deal flow signals sustained investor interest and consolidation activities within the sector despite broader market uncertainties.