IQVIA艾昆纬：2025年医药交易半年回顾-医药交易报告（英文版）

Overall deal activity remained muted in the first half of 2025 as the ongoing challenging macroeconomic environment, regulatory changes and rising geopolitical tensions deterred cautious dealmakers. Excluding standalone research grants, the number of agreements signed in the life sciences sector decreased by 9% in H1 2025 versus H1 2024 according to the IQVIA Pharma Deals database of publicly disclosed deal activity (Figure 1). With difficult market conditions persisting, biotech lay-offs sho