Latest Deals

The deal is expected to close in Q3 2025. Credit: Klaus Vedfelt / Getty Images
Bain Capital buys Mitsubishi Tanabe Pharma for $3.3bn
Bain Capital has agreed to acquire Mitsubishi Chemical Group’s pharmaceutical unit Mitsubishi Tanabe Pharma in a deal valued at approximately Y510bn ($3.3bn). The transaction follows a sale process initiated by Mitsubishi Chemical Group in September 2024, as reported by Nikkei Asia. In the 7 February announcement, the parent company said that continuous additional investments are essential for enhancing R&D capabilities and achieving further growth.
Novartis signs agreement to acquire Anthos for $925m upfront
Novartis has agreed to acquire Boston-based clinical-stage biopharmaceutical company Anthos Therapeutics for an upfront payment of $925m. The transaction includes $2.15bn of potential additional payments, contingent on regulatory and sales milestones. It is anticipated to close in the first half of 2025.
Eli Lilly pledges $630m on OliX’s Phase I RNA candidate for MASH
Eli Lilly is paying up to $630m for a Phase I metabolic-associated steatohepatitis (MASH) candidate from South Korea-based biotech OliX Pharmaceuticals, diversifying its pipeline for the disease with an RNA-based asset. Known as OLX75016, the candidate is an antisense RNAi oligonucleotide developed using OliX’s therapeutic RNAi platform.
Royalty Pharma pays $250m for rights to Biogen’s lupus drug
Royalty Pharma has signed a deal to pay Biogen $250m to support the development of its late-stage experimental lupus medication litifilimab.
In return, Royalty Pharma will receive undisclosed milestone payments if the drug meets certain regulatory goals, as well as mid-single-digit royalties on worldwide sales. Payments up to $250m to Biogen will be spread over six quarters, Royalty said in the announcement.