Biotech M&A is accelerating. Track the deals that are happening here.

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In the business of drug development, deals can be just as important as scientific breakthroughs. Many of today’s most lucrative medicines, from the life-saving cancer treatment Keytruda to the anti-inflammatory agent Enbrel, might not have become so without mergers and acquisitions.

The end of the last decade brought record highs in pharmaceutical M&A as larger companies turned again and again to young biotechs for innovation. Often, these deals focused on cancer, rare diseases and immune system disorders — areas of drug research that were seeing major victories in clinical trials and huge profits for treatments that made it to market.

2021 and 2022 were much quieter for dealmaking, as new challenges and then rising interest rates weighed on negotiations. But there have been signs of a rebound. Pharma companies are keen to expand in areas like obesity, while stocking up on newer technologies like antibody-drug conjugates. Even neuroscience, which large drugmakers previously abandoned, is drawing investment again.

BioPharma Dive is tracking M&A activity below. The database, which shows drugmaker buyouts that have happened since 2018 and were valued at $50 million or more in upfront consideration, will be regularly updated.