Global pharma deal value rises to $18.3 billion in July 2025: GlobalData
Merck, Nordic Capital, and Sanofi drive 79 per cent of July’s total deal value as venture capital activity records a decline
The healthcare industry recorded 69 deals valued at $18.3 billion in July 2025, according to a recent GlobalData report. This marks a decrease in the number of deals compared to the last 12-month average of 95 deals, but an increase in overall deal value, which averaged $13.2 billion between July 2024 and June 2025.
One of the key transactions during the month was Merck & Co Inc’s announcement to acquire Verona Pharma Plc, a biopharmaceutical company focused on respiratory diseases, for a total transaction value of approximately $10 billion.
In another major deal, Innosera ApS, a newly formed company controlled by Nordic Capital Fund, agreed to acquire all issued and outstanding shares of Bavarian Nordic AS, a global vaccine company, for a consideration of $2.9 billion.
Sanofi also announced its acquisition of Vicebio Ltd, a clinical-stage biopharmaceutical company developing multi-pathogen vaccines for respiratory viral infections. The transaction is valued at approximately $1.5 billion.
These three transactions alone contributed 79 per cent of the total deal value for the month, the GlobalData report stated.
Meanwhile, venture capital (VC) activity in the healthcare sector showed a downward trend. July 2025 recorded 90 VC deals worth $1.9 billion, a 25 per cent drop compared to the same month last year. This is also lower than the 12-month average of 97 VC deals valued at $2.5 billion.
Among the major VC deals, MapLight Therapeutics Inc raised $372.5 million in a Series D financing round. The funding will support further exploration of potential indications for ML-007C-MA and continue advancement of other pipeline programmes.
Artbio Inc secured $132 million in a Series B round to expand its pipeline of Alpha Radioligand therapies and strengthen its manufacturing and supply chain infrastructure.
Avalyn Pharma Inc raised $100 million in Series D financing to support the continued clinical development of novel inhaled therapies for pulmonary fibrosis.