Biopharma deal value surged past $138 billion in the first half of 2025, fueled by large transactions including Sino Biopharmaceutical’s acquisition of LaNova Medicines for up to $951 million and AbbVie’s licensing deal for Ichnos Glenmark Innovation’s myeloma candidate valued at more than $1.9 billion. The sector also saw continued investment in radiotheranostics, genomics, and innovative therapeutics, reflecting ongoing consolidation and strategic partnerships to advance pipelines in oncology and rare diseases.