The biopharma deal landscape is entering a new phase.

Deal values reached a record $292.6B in 2025, but the bigger story is where that capital is going and how pharma companies are changing the way they access innovation.

Clarivate’s latest Biopharma Deals 2026 report examines the partnerships, acquisitions and emerging trends shaping the future of medicine.

Inside the report, discover:

• Why fewer, larger strategic deals are reshaping partnership models
• Where pharma is investing across oncology, immunology, metabolic disease and emerging modalities
• How AI and technology companies are changing drug discovery partnerships
• Why China is becoming an increasingly important source of pharma innovation
• What shifting research and funding environments mean for future pharma–biotech partnerships