Industry analysis found approximately $230 billion in annual sales tied to top blockbusters facing patent expirations through 2029, triggering accelerated M&A and portfolio reshaping across big pharma. Companies are moving to buy innovation, diversify pipelines and offset imminent revenue loss as key exclusivities lapse. In a parallel move, Thermo Fisher announced an $8.88 billion cash agreement to acquire Clario Holdings, a data‑centric clinical trial endpoint provider, signaling consolidation in trial services and analytics as drugmakers seek efficiency and differentiated development capabilities. The twin pressures of patent expiries and the need for advanced clinical data infrastructure are driving deal volumes, strategic licensing and large‑scale acquisitions across the tools, CRO and pharma sectors.