Biopharma financing activity through the first two quarters of 2026 totaled $60.14 billion, the strongest first-half (H1) showing since 2024’s $70.32 billion and well above 2025’s $29.53 billion over the same period. The second quarter (Q2) of 2026 was particularly strong at $34.69 billion, the highest single quarter since Q1 2024’s $47.25 billion. Q1 came in at $25.45 billion, more than double 2025’s Q1 figure of $13.12 billion.

Biopharma deal value through the first half (H1) of 2026 reached $170.11 billion, surpassing every prior year in BioWorld’s records, including 2025’s $139.35 billion, the previous high-water mark. June was the second-strongest month of H1 at $34.59 billion, trailing only May’s $41.95 billion.

Biopharma deal value through the first half (H1) of 2026 reached $170.11 billion, surpassing every prior year in BioWorld’s records, including 2025’s $139.35 billion, the previous high-water mark. June was the second-strongest month of H1 at $34.59 billion, trailing only May’s $41.95 billion.

Med-tech M&As through the first half (H1) of 2026 reached $75.73 billion in collective value, the highest H1 total since 2022’s $120.4 billion and well above every other year in BioWorld’s records. June contributed $12.21 billion, a rebound from May’s relatively quiet $1.51 billion.

Biopharma financings across all categories totaled $59.76 billion on 567 deals in the first half (H1) of 2026, more than double H1 2025’s $29.53 billion across 501 transactions.

Total med-tech financing through the first half of 2026 reached $12.28 billion, landing between 2024’s $13.94 billion and 2023’s $10.75 billion over the same period and trailing 2025’s $17.56 billion. The figure reflects a sector that is holding well above the low years of 2022 and 2023.

BioWorld tracked 262 clinical trial readouts across phases I through III in May 2026, the highest monthly total so far this year and well above April’s 143, March’s 209, February’s 152 and January’s 144. By phase, BioWorld recorded 98 phase I readouts in May, 81 in phase II and 83 in phase III. Of the phase III programs, 17 trials posted positive results, and one failed to meet its primary endpoints.

Eli Lilly and Co. posted $19.8 billion in first-quarter 2026 revenue, driven by tirzepatide, marketed as Mounjaro for type 2 diabetes and Zepbound for obesity. The Indianapolis-based drugmaker is channeling cash flow from these blockbuster GLP-1 drugs into an aggressive dealmaking campaign — about $25.1 billion across 10 announced acquisitions so far this year and more than $26 billion in other closed deals.

The U.S. FDA approved 24 drugs in May 2026, the busiest month of the year so far. Up from April’s 14, it brings the year-to-date total to 84 approvals. Through May, the agency has cleared 20 new molecular entities, a pace that, if sustained, would put 2026 on track to approach or exceed several recent years.

Med-tech M&A value through the first five months of 2026 reached $62.98 billion, the highest total for the period since 2022’s $84.13 billion and a dramatic step up from 2025’s $22.4 billion and 2024’s $21.86 billion over the same stretch.