Forget March going out like a lamb. On the M&A landscape, March went out like a lion. In a flurry of activity over the last 12 days of the month, biopharma companies pulled off seven transactions each for more than $1 billion and worth a combined $29 billion in headline value. The blitz indicates to market watchers that 2026 will be a prime year for M&A and that the surge seen in the fourth quarter of 2025 was not a false alarm. “We think biotech momentum can continue throughout 2026,” analysts at Jefferies wrote in their quarterly M&A scorecard, noting that the upswing comes “despite macro uncertainty” and coincides with a 64% increase in the XBI, a stock index for U.S. biotech companies, over the last year.
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Source: https://www.fiercepharma.com/pharma/march-ma-surge-triggers-high-expectations-2026