Biopharma’s record-breaking first half continued with June delivering the second-strongest month of H1 deal value. Through the first six months of 2026, deal value reached $170.11 billion, surpassing the prior annual record and marking a sharp acceleration heading into late summer. The report notes June’s contribution totaled $34.59 billion and that total deal value is outpacing last year’s pace. For operating companies and investors, the acceleration suggests continued appetite for portfolio consolidation and late-stage assets amid intense competition for deal access.