Pharma deal value falls 78.8% in September 2026: GlobalData

Deal value in the pharmaceuticals industry decreased by 78.8 per cent in September 2026 compared to September 2025, according to GlobalData.

In September 2026, the healthcare industry reported 85 deals worth $6.2 billion, compared to the last 12 months’ average of 90 deals worth $31.8 billion for the period from September 2025 to August 2026.

The three major deals reported in September 2026 were Telix Pharmaceuticals Limited’s acquisition of ITM Isotope Technologies Munich SE, a biotechnology company that develops and produces therapeutic and diagnostic radiopharmaceuticals and radioisotopes to treat cancer, for up to $2.3 billion; Puig’s acquisition of a 50 per cent stake in ISDIN SA, a pharmaceutical company that produces and distributes skin care products, for $1.39 billion; and GSK plc’s acquisition of a potential best-in-class trispecific T cell-engager (TCE) from Chimagen Biosciences Ltd, a clinical-stage biotechnology company focused on discovering and developing innovative multi-specific antibody therapeutics, for a total transaction value of up to $750 million.

VC funding increases 21.6 per cent

Venture capital funding increased by 21.6 per cent in September 2026 compared to September 2025.

The healthcare industry reported 124 venture capital (VC) deals worth $4.2 billion in September 2026, compared to the last 12 months’ average of 114 deals worth $3.4 billion for the period from September 2025 to August 2026.

The three major VC deals reported in September 2026 were Enveda Therapeutics Inc.’s $311 million Series E financing to advance ENV-294, ENV-308, and ENV-6946 into later-stage trials and additional indications; Anew Labs, a China based full-chain artificial intelligence drug discovery and development platform, raising $290 million in a financing round to establish a suitable organisational incentive system around its AI-driven pharmaceutical business; and Encoded Therapeutics Inc., a clinical-stage biotechnology company developing precision genetic medicines for severe neurological disorders, raising $275 million in a Series F financing round to support the pivotal study of ETX101.

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