(Reuters) -Merck is acquiring UK-based Verona Pharma for about $10 billion, as part of the U.S. drugmaker's strategy to diversify beyond its blockbuster cancer treatment Keytruda.

The move adds to a growing list of high-profile transactions over the past decade by U.S. pharmaceutical companies to acquire promising therapies in fields ranging from oncology, neurology to rare diseases and obesity.

Globally, $105.3 billion worth of pharmaceuticals and biotech M&A deals have been inked so far in 2025, according to data compiled by LSEG, up 7% from year-ago levels and the highest year-to-date total since 2023. 

Below are some of the major deals involving U.S.-based pharma and biotech firms from the past decade

Year Acquirer Target Deal Value Description

2025 Merck & Co Verona About $10 Strengthens

Pharma billion Merck's

respiratory

portfolio amid

looming

Keytruda

patent cliff

2025 Johnson & Intra-Cell $14.6 Expands J&J's

Johnson ular billion footprint in

Therapies brain disease

treatments

2024 Novo Catalent $16.5 Boosts

Holdings billion manufacturing

(including capacity for

debt), Novo Nordisk's

$11.5 popular

billion obesity drug

(excluding Wegovy

debt)

2023 Merck & Co Prometheus $10.8 Adds

Bioscience billion experimental

s treatment for

ulcerative

colitis and

Crohn's

disease and

builds up

presence in

immunology

2023 Bristol Karuna BMY gains a

Myers Therapeuti $14 promising

Squibb cs billion antipsychotic

medicine as

patents on its

older

therapies near

their expiry

2023 Pfizer Seagen $43 Builds

billion Pfizer's

cancer

portfolio amid

decline in

sales for

COVID-related

products and

generic

competition

2022 Amgen Horizon $27.8 Buyout,

Therapeuti billion biggest in the

cs sector in

2022,

fortifies rare

diseases

portfolio

2022 Pfizer Biohaven $11.6 Pfizer bets

Pharmaceut billion big on a new

ical class of

Holding migraine drugs

2021 Merck & Co Acceleron About Diversifies

Pharma $11.5 Merck's

billion portfolio

beyond cancer

2021 Ginkgo Soaring $17.5 Ginkgo said it

Bioworks Eagle million plans to go

Acquisitio public through

n a merger with

a blank-check

vehicle backed

by former

Hollywood

executives

Harry Sloan

and Jeff

Sagansky

2020 AstraZeneca Alexion $39 AstraZeneca's

Pharmaceut billion largest ever

icals deal to

diversify away

from its

cancer

business,

betting on

rare-disease

and immunology

drugs

2020 Bristol MyoKardia About $13 Bolster

Myers billion Bristol's

Squibb portfolio of

heart disease

treatments

2020 Gilead Immunomedi $21 Strengthens

cs billion Gilead's

cancer

portfolio

2019 Mylan Pfizer's About $12 Mylan's

Upjohn billion acquisition of

business Pfizer's

Upjohn

business was

structured as

a stock-based

merger,

resulting in

the formation

of Viatris .

Upjohn was

essentially

spun off to

Pfizer

shareholders

and then

merged with

Mylan

2019 AbbVie Allergan $63 AbbVie gains

billion, control of

$83 Botox and

billion diversifies

(including its portfolio

debt) beyond its

then-blockbust

er drug,

Humira

2019 Pfizer Array $11.4 Pfizer gains

Biopharma billion oncology asset

2019 Bristol Celgene $74 One of the

Myers Corp billion largest

Squibb pharmaceutical

mergers in

history

2017 Johnson & Actelion $30 Johnson &

Johnson's billion Johnson's

subsidiary,

Janssen

Holding,

acquires

Actelion;

Actelion's R&D

unit spun off

into Idorsia

2017 Gilead Kite $11.9 Strengthens

Sciences Pharma billion Gilead's

position in

the field of

cell therapy,

particularly

in CAR-T

treatments for

cancer

2016 Pfizer Medivation $14 Pfizer

billion acquires

blockbuster

prostate

cancer drug

Xtandi

2015 Shire Baxalta $32 Catapults

billion Shire to

leading

position in

treating rare

diseases

2015 AbbVie Pharmacycl $21 AbbVie gets

ics billion access to what

is expected to

be one of the

world's

top-selling

cancer drugs

and expanding

its reach in

the profitable

oncology field

2015 Valeant Salix $14.5 Makes Valeant

Pharmaceuti Pharmaceut billion a leader in

cals (now icals gastro-intesti

Bausch nal drugs

Health)

2015 Pfizer Hospira $15 Deal creates

billion leading global

established

pharmaceutical

business for

Pfizer