Biopharma mergers and acquisitions have continued in 2026, with AbbVie acquiring Apogee Therapeutics and its IL-23 blocker for atopic dermatitis for approximately $10.9 billion, according to a June 24 report. This transaction follows GSK’s $10.6 billion acquisition of Nuvalent Bio earlier in the month, bringing total biopharma spending on acquisitions to nearly $47 billion across 19 deals in the first quarter of the year.
Several large pharmaceutical companies are pursuing these deals as they approach patent expirations. Sanofi is set to lose patent protection on Dupixent in 2031. In response, new CEO Belén Garijo has taken steps to strengthen Sanofi’s research and development pipeline by appointing Paulo Fontoura, formerly of Xaira, as R&D chief following Houman Ashrafian's departure.
Regulatory uncertainty remains a significant trend over the past 18 months. Both uniQure and REGENXBIO announced reversals from the U.S. Food and Drug Administration regarding their gene therapies for Huntington’s disease and Hunter syndrome, respectively. The FDA determined that current data was sufficient for both products; uniQure will submit its product for approval for the first time, while REGENXBIO will resubmit theirs during the third quarter under acting commissioner Kyle Diamantas.
The FDA also released a policy memo concerning Sanofi’s Commissioner’s Priority Review Voucher (CNPV) program related to type 1 diabetes drug Tzield, adding further scrutiny to an already controversial program. Additionally, the agency introduced an investigational new drug pilot program aimed at reducing early trial timelines by up to twelve months through collaborations with U.S.-based research institutions.
In other industry developments discussed at BIO 2026 in San Diego, Evaluate projected that Eli Lilly’s weight loss franchise could account for almost half of total sales among top ten drugs by 2032. Meanwhile, Eli Lilly is reportedly one of two companies considering Sangamo's assets after Sangamo filed for bankruptcy.
