JPM 2025 kicks off today, igniting a wave of deal-making across the biotech and pharma sectors.

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• GSK is reportedly in talks to acquire IDRx for around $1 billion, strengthening its oncology pipeline.
• Eli Lilly is eyeing Scorpion Therapeutics in a deal that could reach $2.5 billion, signaling a deeper push into precision oncology.
• Biogen made headlines late Friday with an offer to acquire Sage Therapeutics, aiming to bolster its neuroscience portfolio.
• Johnson & Johnson is exploring a potential acquisition of Intra-Cellular Therapies, a leader in CNS therapeutics.
• Meanwhile, Gilead and LEO Pharma have announced a strategic partnership to accelerate the development of their oral STAT6 program, targeting multiple inflammatory diseases.

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J&J paid $14.5B for Intra-Cellular Therapies

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