Healthcare deal value jumps 147.3% YoY in December 2025: GlobalData

The pharma industry recorded an increase in deal value in December 2025, according to GlobalData. Deal value rose by 147.3 per cent compared to December 2024.

In December 2025, the healthcare industry reported 71 deals with a combined value of $16.8 billion. This compared with the previous 12-month average, from December 2024 to November 2025, of 85 deals valued at $21.1 billion.

The three major mergers and acquisitions reported during the month included BioMarin Pharmaceutical Inc.’s agreement to acquire Amicus Therapeutics Inc., a biotechnology company focused on discovering, developing and delivering medicines for people living with rare diseases, for a total equity value of approximately $4.8 billion. Shionogi & Co Ltd announced the acquisition of global rights to Tanabe Pharma Corporation’s RADICAVA ORS (edaravone) and IV RADICAVA for $2.5 billion. Sanofi agreed to acquire Dynavax Technologies Corp, a commercial-stage biopharmaceutical company developing and commercialising vaccines for infectious diseases, for a total equity value of approximately $2.2 billion.

Venture capital funding in the healthcare industry also increased in December 2025. Funding value rose by 31.9 per cent compared to December 2024.

During the month, the healthcare industry reported 113 venture capital deals worth $3.2 billion. This compared with the last 12-month average of 104 deals valued at $2.7 billion.

The largest venture capital transactions included Syremis Therapeutics Ltd, a clinical-stage biopharmaceutical company developing medicines for mental health conditions, which raised $165 million in Series A financing to develop medicines for mental health treatment. Protego Biopharma, Inc., a clinical-stage biotechnology company, raised $130 million in Series B financing to advance its AL amyloidosis programme into a pivotal study. Ambros Therapeutics, Inc., raised $125 million in Series A financing to advance neridronate through a phase 3 registrational programme for complex regional pain syndrome Type 1. These were the three major venture capital deals reported in December 2025.