Recent Mergers and Acquisitions in the Pharma Sector – 2025 Roundup

2025 is turning out to be one of the most pivotal years for pharmaceutical M&A activity in recent history. From biosimilars and oncology to CDMO consolidation and consumer wellness, pharma companies are no longer just growing they’re evolving their entire business models through acquisition.

The deals aren’t random.They’re strategic bets on margin, IP control, and global reach. For teams in R&D, procurement, and regulatory affairs, tracking these moves is no longer optional. It’s a direct insight into where the market and competition is heading.

Let’s break it down. Here’s a quick look at the most significant pharma mergers and acquisitions of 2025.

Recent Mergers & Acquisitions in Pharma

Let’s now dive deeper into each of these mergers and acquisitions, and understand them in details.

Mankind Pharma Just Bought an Edge in Fertility and Biotech

Mankind Pharma didn’t just buy a company. It bought a shortcut into fertility treatments, critical care, and complex biotech.

The $1.6 billion deal gave it 100% control of Bharat Serums & Vaccines (BSV), a company known for IVF drugs and hormonal injectables.

This isn’t about scale. It’s about depth.

Why Mankind Bet Big on Bharat Serums?

• Fertility and IVF are high-growth, high-barrier markets
• BSV already exports to over 70 countries
• Its facilities cover biotech, plasma, and hormonal injectables
• The portfolio fits directly into chronic care and specialty therapy

Mankind has dominated in volume-led generics. But this deal signals a pivot toward specialty care with higher margins and fewer competitors. It’s also a defensive play.
 

Fertility and critical care demand is rising fast, and the competition is catching up. With this acquisition, Mankind locked in IP, manufacturing, and a global pipeline, assets that take years to build from scratch.

Sun Pharma Acquires Checkpoint Therapeutics and Takes Full Control of Taro Pharma

Sun Pharma doesn’t hesitate. In 2025, it made two precision plays, one in U.S. oncology, the other in global dermatology. Both were about control.

Sun Pharma Acquires Checkpoint Therapeutics for $355 Million

Checkpoint isn’t a typical buyout. It’s a bet on immunotherapy. More specifically, on cosibelimab, an FDA-approved PD-L1 drug for advanced skin cancer.

The deal was valued at $355 million, all-cash. Checkpoint’s pipeline fits directly into Sun’s U.S. oncology strategy.

• Expands Sun’s position in oncology and immunotherapy
• Opens a branded path beyond generics
• Lowers dependency on price-sensitive markets
• Provides new leverage with U.S. regulators and payers

This was strategic, not reactive. Sun bought a fast track into one of pharma’s most defensible categories.

Sun Pharma Acquires Remaining Stake in Taro Pharmaceuticals for $347.73 Million

The second deal was years in the making. Sun owned most of Taro Pharma already. Now, it owns all of it. The remaining 21.5% stake was bought for $347.73 million, closing the loop.

• Taro specializes in topical generics and dermatology
• Key markets: U.S., Canada, Israel
• Now a wholly owned subsidiary
• No more divided governance
• Faster execution across R&D and supply chain

With this move, Sun eliminates friction.
It aligns strategy across global dermatology and consolidates IP ownership under one roof.

TPG Growth and Novo Holdings Acquire 35% Stake in SCHOTT Poonawalla

Not all pharma deals are about drugs. Some are about the containers that carry them. In 2025, TPG Growth and Novo Holdings acquired a 35% stake in SCHOTT Poonawalla Pvt. Ltd. The shares were purchased from the Serum Institute of India, the world's largest vaccine manufacturer.

TPG and Novo Target Drug Containment with SCHOTT Poonawalla Investment

SCHOTT Poonawalla isn’t a pharma company. It’s what pharma companies rely on.

The joint venture manufactures:

• Vials
• Ampoules
• Cartridges
• Prefilled syringes

These aren’t commodity products. In regulated markets, packaging must meet strict standards, for heat resistance, extractables, and chemical stability.
SCHOTT is one of the few companies globally that can deliver that at scale.

Why This Investment Matters for Global Pharma Supply Chains

• SCHOTT Poonawalla plays a critical role in injectable drug containment
• The investment will help scale capacity in India and abroad
• Demand for glass vials surged post-COVID and continues to grow with biologics
• TPG and Novo bring capital, governance, and global reach

With Serum exiting majority control, SCHOTT now gains independent momentum.
TPG and Novo can steer growth while retaining Serum as a strategic minority partner.

Suven Pharma Merges with Cohance Lifesciences to Build a Stronger CDMO Platform

In 2025, Suven Pharmaceuticals and Cohance Lifesciences joined forces. This wasn’t a cash acquisition. It was an all-share merger to form a stronger, consolidated CDMO player.

Backed by Advent International, the deal signals a strategic pivot. Both companies will now operate under a unified structure—with sharper focus and greater scale.

Suven and Cohance Merger Strengthens API and CDMO Capabilities

• The merger creates a vertically integrated Contract Development and Manufacturing Organization (CDMO)
• Combines strengths in active pharmaceutical ingredients (APIs) and small molecule development
• Expands customer base across North America, Europe, and India
• Offers both discovery and commercial-scale services under one roof

This consolidation wasn’t random. It reflects the rising global demand for outsourced pharmaceutical manufacturing, especially from mid-sized biotech and generics players.

Why the Suven–Cohance Deal Matters in 2025

• The deal builds supply chain resilience and delivery speed
• Advent brings operational discipline and global market access
• The unified platform offers end-to-end CDMO capabilities in key regulated markets
• Helps compete with larger players in India and China

By merging, Suven and Cohance created something neither could build alone. This is now one of India’s most focused and well-backed CDMO companies

Aurobindo Pharma Acquires Remaining Stake in GLS Pharma to Strengthen Oncology API Business

In early 2025, Aurobindo Pharma finalized its acquisition of GLS Pharma. The company bought the remaining 49% stake, taking full ownership of the Hyderabad-based oncology player.

This wasn’t a surprise. Aurobindo had already owned a controlling interest. Now, it owns 100%.

Aurobindo Pharma Strengthens Oncology Generics and API Manufacturing

GLS Pharma specializes in:

• Oncology APIs and formulations
• Injectables and oral cancer therapies
• Manufacturing for both regulated and semi-regulated markets

With the deal closed, Aurobindo gains full access to GLS's infrastructure, IP, and capacity. It also strengthens Aurobindo’s oncology-focused pipeline, one of the most defensible segments in generics.

Why This Acquisition Fits Aurobindo’s Long-Term Strategy

• Oncology remains a high-growth therapeutic area
• Full ownership allows tighter integration and faster decision-making
• Supports Aurobindo’s ambition to scale its oncology API exports
• Builds capacity in niche, high-barrier manufacturing technologies

This deal won’t make headlines like a billion-dollar buyout. But for Aurobindo, it’s strategic: consolidate what’s working, and double down on complex generics.

Cipla Acquires Ivia Beaute’s Personal Care Brands to Expand Consumer Wellness Portfolio

Cipla stepped beyond pharma in 2025. It acquired the distribution and marketing business of Ivia Beaute Pvt Ltd in a ?130 crore deal.

An additional ?110 crore was agreed as milestone-based consideration. The move is part of Cipla’s broader plan to expand its consumer health vertical.

Cipla Strengthens Consumer Wellness Play with Astaberry and Ikin Brands

• Deal adds Astaberry, Ikin, and other herbal personal care products
• Expands Cipla’s portfolio beyond OTC drugs into daily-use wellness categories
• Targets a fast-growing space: skincare, beauty, and personal hygiene
• Brings strong offline and e-commerce distribution assets into Cipla’s fold

Ivia’s brands already have retail visibility across India. Cipla now gets a ready-made platform to scale with its existing healthcare distribution muscle.

Why Cipla Is Moving Deeper Into Consumer Health

• Rising demand for preventive wellness and herbal beauty products
• Diversifies Cipla’s revenue away from pure pharmaceuticals
• Builds a more stable cash flow base through direct-to-consumer categories
• Fits Cipla’s strategy to own more shelf space in the Indian household

This isn’t a blockbuster acquisition. But it’s a smart one. It plants Cipla deeper into daily-use health and beauty, where margins are steady and brand matters.

Zydus Lifesciences Acquires Amplitude Surgical to Enter the Medical Devices Market

In 2025, Zydus Lifesciences made a strategic move outside its traditional pharmaceutical base. It acquired 85.6% of France-based Amplitude Surgical in a €256.8 million deal. The acquisition marked Zydus’s official entry into the medical devices segment.

Zydus Expands into Orthopaedic Implants with Amplitude Surgical Acquisition

Amplitude Surgical specializes in:

• Lower-limb orthopaedic implants
• Surgical instrumentation and planning software
• Operating across France, Brazil, Germany, and Australia

With this deal, Zydus gains:

• A certified medical device manufacturing and innovation platform
• Distribution access in regulated international markets
• A non-pharma revenue stream with long product life cycles

Zydus now enters a sector with fewer pricing caps, lower competition, and longer-term value creation.

Why Zydus Lifesciences Is Diversifying Beyond Pharma

• Medical devices offer stable margins and recurring institutional demand
• Strengthens global presence without depending on patent cycles
• Reduces exposure to price erosion in generics
• Aligns with Zydus’s goal to become a diversified healthcare company

This acquisition isn’t just a diversification move. It’s a signal that Zydus plans to compete in high-tech, high-margin verticals beyond medicine.

Dr. Reddy’s Acquires Haleon’s Nicotine Brands to Strengthen OTC Consumer Health Portfolio

In one of the largest OTC deals of 2025, Dr. Reddy’s Laboratories acquired key nicotine replacement brands from Haleon in a £500 million transaction. The acquisition includes Nicabate, Thrive, and Habitrol, widely recognized brands in the smoking cessation market.

Dr. Reddy’s Expands Global OTC Reach with Nicotine Replacement Products

• Strengthens its over-the-counter (OTC) consumer health business
• Adds presence in regulated markets including Australia, Canada, and parts of Europe
• Gains direct access to retail and pharmacy-driven demand
• Diversifies revenue outside prescription drugs and generics

These brands have strong shelf presence and consistent demand cycles. Dr. Reddy’s now owns assets with brand equity, built-in trust, and high repeat usage.

Why This Deal Aligns with Dr. Reddy’s Consumer Health Strategy

• OTC is less exposed to pricing pressure than generics
• Nicotine replacement therapy has long-term demand stability
• Strengthens the company’s portfolio in habit-forming wellness products
• Allows expansion into direct-to-consumer wellness markets

This acquisition wasn’t just about nicotine. It was about buying into behavior-driven health categories, where consumers return without a doctor’s prescription.

Torrent Pharma Acquires Curatio Healthcare for ?2,000 Crore to Deepen Dermatology Portfolio

In one of the largest domestic pharma deals of 2025, Torrent Pharmaceuticals acquired Curatio Healthcare in a ?2,000 crore all-cash transaction. The deal significantly expands Torrent’s footprint in the high-growth Indian dermatology market.

Torrent Strengthens Dermatology Play with Curatio’s Skincare Portfolio

• Curatio brings a strong focus on pediatric and cosmetic dermatology
• Its portfolio includes derma moisturizers, anti-fungals, and medicated skincare
• Top-selling brands include Tedibar, Atogla, and Sporidex
• Torrent gains a strong field force in tier 1 and tier 2 cities
• Curatio has a pan-India distribution network with deep dermatologist engagement

This acquisition gives Torrent immediate scale in a category with high brand loyalty and low price sensitivity.

Why Torrent Pharma Acquired Curatio in 2025

• Dermatology is a ?15,000+ crore market with double-digit growth
• Curatio offers ready access to prescription-driven derma segments
• Torrent diversifies its chronic care-heavy portfolio
• Enhances Torrent’s consumer connect in doctor-led, brand-first markets

This wasn’t a move for manufacturing scale. It was a move for prescription power, specialist access, and long-term consumer stickiness.

Biocon Biologics Acquires Viatris Biosimilars Business in $3.34 Billion Move

Biocon didn’t take the long road.
Instead, it made a $3.34 billion leap—buying out Viatris’s global biosimilars business and owning the pipeline overnight.

That’s not growth. That’s acceleration.

The deal gives Biocon immediate access to commercial infrastructure, regulatory approvals, and a portfolio designed to win on margin—not just volume.

Biocon Takes Control of Viatris Biosimilars Platform

• Over 20 biosimilar assets transferred to Biocon, including trastuzumab, bevacizumab, and insulin glargine
• Existing sales channels across 70+ countries brought under Biocon’s direct control
• Global R&D, pharmacovigilance, and supply chain functions fully integrated
• Assets span oncology, diabetes, and autoimmune therapies—markets with long-term clinical demand

This wasn’t a licensing arrangement.
It was full-on ownership.
The kind that gives pricing power, not just volume growth.

Why Biocon’s Viatris Deal Rewrites Its Global Strategy

• Biosimilars are projected to cross $30 billion globally by 2030
• Viatris’ infrastructure gave Biocon a plug-and-play commercial engine
• Risk of partner dependence is gone; Biocon can now launch, price, and scale independently
• Reduces exposure to generic pricing erosion across key geographies

This deal didn’t just expand Biocon’s portfolio.
It transformed its business model—from being a partner-led supplier to a global, integrated biologics company.

Conclusion

These deals aren’t just about expansion.They’re about control, speed, and defensibility. In 2025, pharma didn’t just grow—it evolved. And if you’re watching closely, a pattern has already formed.

Here’s what stands out:

• Companies are buying control of supply chains, not just partnerships.
• CDMO and biosimilar platforms aren’t being built—they’re being acquired fully formed.
• Brand visibility in consumer health is no longer optional—it’s being engineered through M&A.
• Therapeutic depth is replacing volume. It’s no longer about “how much,” but how focused.

Biocon didn’t scale gradually. It bought the future. Sun Pharma didn’t license oncology—it took it in-house. Cipla, Torrent, and Zydus didn’t flirt with consumer health—they committed. Some of these deals were quiet. But every one of them moved a chess piece.

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