Section
Deals
Deals
Lilly, Gilead lead $64bn pharma M&A run as 2026 deal pace eclipses 2025
Pharma M&A struck 24 deals worth $64bn in upfront cash through April, well ahead of 2025's pace. Eli Lilly and Gilead Sciences lead the buying, with oncology and autoimmune assets soaking up most of the cash.
By Naomi Voss
Crypto
Kraken parent Payward to buy stablecoin payments firm Reap for $600m, deepens Asia push
Kraken's parent Payward agreed to buy Hong Kong-based stablecoin payments firm Reap Technologies for up to $600m in cash and stock at a $20bn valuation, its largest deal yet and a clear signal of the IPO pitch: financial infrastructure, not a spot exchange.
By Caleb Mwangi
Banking
Eli Lilly prices $9bn eight-tranche bond, biggest-ever sale to fund $13bn M&A push
Eli Lilly priced $9bn of investment-grade bonds across eight tranches on Wednesday, its largest-ever debt sale, to fund the Centessa and Kelonia acquisitions. The 40-year tranche tightened 33 basis points from initial price talk to 80bp over Treasuries.
By Naomi Voss
