2026’s biggest healthcare deals so far

Healthcare M&A is back, baby! (Kind of.)

Though deals haven’t risen much in frequency compared to the last few years, they’ve gotten larger. A June 23 PwC report estimates total health industry deal value in the Americas will reach $281 billion by the end of the year, the highest since 2021, even though deal volumes remain “measured.”

“This points to a market with deal flow—but not yet broad-based recovery,” the report says.

To find out more about where healthcare M&A stands, Healthcare Brew worked with global market data research company PitchBook and consulted publicly available press releases to compile a list of the nine biggest US healthcare mergers and acquisitions announced in 2026, as of June 22.

So, without further ado, here are the year’s largest US healthcare deals so far:

1. Medical device manufacturer Boston Scientific announced it was acquiring medical device company Penumbra on Jan. 15, in a deal valued at $14.5 billion.
2. Biopharma Organon announced on April 26 it would be acquired by India-based specialty generic drug company Sun Pharmaceutical Industries in a deal valued at $11.75 billion at the time.
3. On June 22, biopharma AbbVie announced a deal to acquire Apogee Therapeutics, which has multiple clinical-stage drug candidates for inflammatory and immunological diseases at a value of $10.9 billion.
4. Biopharma and biotech GSK is acquiring Nuvalent, a clinical-stage biopharma focused on oncology therapies. The company announced the deal, valued at $10.6 billion, on June 9.
5. Diagnostics and life sciences company Danaher announced on June 10 it had completed the purchase of patient monitoring solutions company Masimo. Danaher valued the deal at $9.9 billion when the companies first announced the acquisition on Feb. 17.
6. Biopharma Gilead Sciences announced on April 28 that it had finished its acquisition of clinical-stage biotech Arcellx, for an estimated value of $7.8 billion.
7. On April 20, biopharma Eli Lilly announced it had reached an agreement to acquire clinical-stage biotech Kelonia Therapeutics for an upfront sum of $3.25 billion and more to come, conditional on reaching certain clinical, regulatory and commercial milestones, up to $7 billion total in cash.
8. Biopharma Merck shared on March 25 that it would buy clinical-stage oncology company Terns Pharmaceuticals, in a deal with an approximate equity value of $6.7 billion at the time. Merck announced the deal’s completion on May 5.
9. Biotech Biogen shared on May 14 that it had completed its acquisition of Apellis Pharmaceuticals for $5.6 billion.