Over the past decade, Eli Lilly has bought out more biotechs than any of the other top 12 pharmas by revenue—with 10 of those acquisitions arriving just this year. No one has signed more M&A deals than Eli Lilly this year, with $25.27 billion spent across 10 transactions. That total represents more than half of the $46.38 billion that the top 12 pharmas by revenue have spent in 2026 so far and clearly launches the obesity juggernaut into a whole new stratosphere in the pharma world. In the past decade, Lilly has inked 30 buyouts. Second in line among the top 10 pharmas is Novartis with 26, with the list falling more steeply from there.
Read the full article: Lilly’s $25B+ M&A Spree Captures Half of Pharma’s 2026 Capacity //
Source: https://www.biospace.com/business/lillys-25b-m-a-spree-captures-half-of-pharmas-2026-capacity