IQVIA Pharma Deals

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This report provides a mid-year overview of global biopharma dealmaking in the first half of 2025. It shows that while deal volume increased, disclosed deal values declined, with late-stage assets accounting for a larger share of licensing spend. Oncology remained the dominant therapeutic area, and large players led deal activity. The paper concludes with an outlook for the second half of the year, highlighting implications for business development strategy.

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