Seeking Alpha analysts expect Big Pharma merger and acquisition activity to intensify as companies face looming patent cliffs on blockbuster drugs. Stephen Ayers notes that buyers are targeting SMID-cap, later-stage assets, particularly biologics, antibody-drug conjugates, cell therapy, and GLP-1/metabolic treatments, citing Krystal Biotech, Cogent Biosciences, Structure Therapeutics, and Abivax as potential targets. ALLKA Research highlights oncology, neuroscience, and immune-system diseases as key therapeutic areas, suggesting J&J may acquire Protagonist, Roche may pursue TG Therapeutics, and Teva could target Alvotech. Chris DeMuth Jr. sees a good outlook for smaller tuck-in deals and expects offers for Liquidia and Abivax within the next few quarters.
