June 2026
The Therapy Areas Driving Biopharma Deal Activity in 2026
Insights from Kristiaan Rawlings, Executive Director at EPM Scientific
Biopharma dealmaking is accelerating again, and the hiring market is moving with it.
After a slower period for acquisitions in 2024, 2025 saw a major rebound in pharmaceutical M&A activity, with aggregate deal value more than doubling year-over-year to exceed $130 billion globally. Industry analysts now expect 2026 to continue that momentum as companies race to strengthen pipelines ahead of looming patent cliffs and increased competitive pressure.
According to Kristiaan, the most important signal for hiring teams is not simply the volume of deals, it’s where the deals are happening:
Over the past three years, I’ve worked closely with companies across a small number of therapy areas that were consistently competing for talent to launch new assets. And when you look at current deal flow, it’s the same therapy areas driving acquisition activity.
The therapy areas leading the market
While oncology continues to command a major share of overall M&A value, several other therapeutic areas are emerging as highly active investment categories in 2026.
According to both market data and ongoing hiring activity, some of the strongest momentum is currently concentrated in:
- Immunology
- Auto-Immune
- Ophthalmology
- Dermatology
- Nephrology
- Respiratory disease
Industry reporting supports that trend. IQVIA’s 2026 M&A outlook identified immunology, respiratory disease, and cardio-renal-metabolic categories among the leading areas for licensing and acquisition activity, while broader market trackers continue to highlight sustained investment outside traditional oncology pipelines.
Recent transactions have reinforced this diversification strategy.
Biogen’s acquisition activity and continued investment in ophthalmology and rare disease assets reflects a broader trend across the industry as companies seek differentiated specialty products with long-term commercial upside.
At the same time, large pharmaceutical companies are increasingly using acquisitions and licensing agreements to secure differentiated late-stage or commercial-ready assets in competitive specialty markets.
Why hiring follows deal flow
As acquisition activity rises, so does demand for experienced corporate development and strategic evaluation talent.
When companies are actively reshaping portfolios and evaluating new assets, they need experienced deal teams in place.
That includes professionals with backgrounds in:
- Corporate development
- Search & evaluation (S&E)
- Transactions
- Licensing strategy
- Commercial due diligence
And increasingly, companies are prioritizing candidates who combine scientific understanding with commercial and strategic execution experience.
Boston in particular continues to emerge as one of the most competitive markets for this talent.
Across Cambridge, Back Bay, and the Seaport, hiring activity has intensified as organizations position themselves for additional dealmaking and future launches.
There’s a real sense that the market is hot again. Companies are actively building teams to maximize their position in these therapy areas.
A more competitive market for specialized talent
As more organizations pursue similar assets, the competition for experienced deal professionals is becoming increasingly concentrated.
That dynamic is especially pronounced in therapy areas where:
- Launch activity is accelerating
- Commercial infrastructure already exists
- Assets have strong differentiation potential
- Acquirers are looking for near- or mid-term revenue opportunities
For candidates with deep transaction experience or exposure to high-growth specialty therapeutic areas, the current market may represent one of the strongest hiring environments seen in several years.
Looking ahead for the rest of 2026
As biopharma companies continue to accelerate acquisitions, licensing activity, and pipeline expansion, the demand for experienced corporate development and strategic talent is expected to remain highly competitive through the second half of 2026.
At EPM Scientific, we partner with organizations across the life sciences industry to identify and secure top talent across corporate development, search & evaluation, commercial strategy, and broader leadership functions.
Whether you are building a best-in-class deal team or looking to strengthen your organization ahead of future growth, our team is here to help.
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