The U.S. FDA cleared 20 drugs in October 2025, up from 17 in September, 18 in August and 17 in July, bringing the year’s total to 181 approvals through the first 10 months. Two new molecular entities (NMEs) gained U.S. approval in October: Boehringer Ingelheim GmbH’s Jascayd and Bayer AG’s Lynkuet.

Biopharma dealmaking activity remained strong in October, with total deal value reaching $31.86 billion, a 17% increase from $27.15 billion in September and ranking as the second-highest month in 2025 after June’s $35.43 billion.

Biopharma dealmaking activity remained strong in October, with total deal value reaching $31.86 billion, a 17% increase from $27.15 billion in September and ranking as the second-highest month in 2025 after June’s $35.43 billion.